Prudential Financial Inc. lessened its stake in Seagate Technology PLC (NASDAQ:STX) by 81.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 478,381 shares of the data storage provider’s stock after selling 2,125,006 shares during the quarter. Prudential Financial Inc. owned approximately 0.16% of Seagate Technology PLC worth $18,537,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. First Quadrant L P CA bought a new stake in shares of Seagate Technology PLC in the 2nd quarter worth approximately $153,000. Global X Management Co. LLC raised its holdings in shares of Seagate Technology PLC by 29.2% in the 1st quarter. Global X Management Co. LLC now owns 3,490 shares of the data storage provider’s stock worth $160,000 after purchasing an additional 789 shares during the period. Sigma Investment Counselors Inc. bought a new stake in shares of Seagate Technology PLC in the 1st quarter worth approximately $201,000. Private Advisory Group LLC bought a new stake in shares of Seagate Technology PLC in the 1st quarter worth approximately $206,000. Finally, Eqis Capital Management Inc. bought a new stake in shares of Seagate Technology PLC in the 1st quarter worth approximately $209,000. 88.65% of the stock is currently owned by institutional investors.

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada reissued a “hold” rating and set a $35.00 target price on shares of Seagate Technology PLC in a report on Friday, September 1st. Cleveland Research cut shares of Seagate Technology PLC from a “neutral” rating to an “underperform” rating in a report on Wednesday, August 23rd. BidaskClub cut shares of Seagate Technology PLC from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research raised shares of Seagate Technology PLC from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Finally, ValuEngine cut shares of Seagate Technology PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Five analysts have rated the stock with a sell rating, twenty have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $41.80.

In other news, insider Philip G. Brace purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average cost of $33.34 per share, with a total value of $33,340.00. Following the purchase, the insider now owns 62,855 shares in the company, valued at $2,095,585.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David H. Morton, Jr. sold 3,040 shares of Seagate Technology PLC stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $43.26, for a total transaction of $131,510.40. Following the transaction, the chief financial officer now directly owns 9,063 shares of the company’s stock, valued at $392,065.38. The disclosure for this sale can be found here. 0.87% of the stock is currently owned by insiders.

Seagate Technology PLC (NASDAQ STX) opened at 32.79 on Thursday. The company has a market capitalization of $9.57 billion, a P/E ratio of 12.71 and a beta of 1.69. Seagate Technology PLC has a 52 week low of $30.60 and a 52 week high of $50.96. The stock’s 50 day moving average is $33.11 and its 200 day moving average is $41.28.

Seagate Technology PLC (NASDAQ:STX) last released its quarterly earnings results on Tuesday, July 25th. The data storage provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by $0.34. Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the firm posted $0.69 earnings per share. Seagate Technology PLC’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, equities research analysts expect that Seagate Technology PLC will post $3.69 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th will be paid a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.69%. Seagate Technology PLC’s dividend payout ratio is presently 97.67%.

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Seagate Technology PLC Company Profile

Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.

Institutional Ownership by Quarter for Seagate Technology PLC (NASDAQ:STX)

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