Wells Fargo & Company MN raised its position in Seagate Technology PLC (NASDAQ:STX) by 13.1% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,669,448 shares of the data storage provider’s stock after acquiring an additional 308,437 shares during the period. Wells Fargo & Company MN owned about 0.91% of Seagate Technology PLC worth $103,439,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STX. Aviva PLC raised its stake in shares of Seagate Technology PLC by 2.8% during the 2nd quarter. Aviva PLC now owns 181,216 shares of the data storage provider’s stock worth $7,022,000 after purchasing an additional 4,950 shares in the last quarter. Meridian Wealth Management LLC raised its stake in shares of Seagate Technology PLC by 7.9% during the 2nd quarter. Meridian Wealth Management LLC now owns 8,284 shares of the data storage provider’s stock worth $321,000 after purchasing an additional 604 shares in the last quarter. Sii Investments Inc. WI raised its stake in shares of Seagate Technology PLC by 4.3% during the 1st quarter. Sii Investments Inc. WI now owns 6,465 shares of the data storage provider’s stock worth $295,000 after purchasing an additional 269 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of Seagate Technology PLC by 29.2% during 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 in the last quarter. Finally, Xact Kapitalforvaltning AB raised its stake in shares of Seagate Technology PLC by 5.4% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 71,971 shares of the data storage provider’s stock worth $2,789,000 after purchasing an additional 3,703 shares in the last quarter. Hedge funds and other institutional investors own 89.88% of the company’s stock.

In other news, insider Philip G. Brace bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was purchased at an average price of $33.34 per share, with a total value of $33,340.00. Following the transaction, the insider now owns 62,855 shares of the company’s stock, valued at $2,095,585.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.87% of the stock is currently owned by corporate insiders.

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Shares of Seagate Technology PLC (NASDAQ:STX) opened at 30.95 on Tuesday. The company’s 50-day moving average price is $32.50 and its 200 day moving average price is $41.01. The firm has a market cap of $9.03 billion, a PE ratio of 12.00 and a beta of 1.69. Seagate Technology PLC has a 1-year low of $30.60 and a 1-year high of $50.96.

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. The business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.56 billion. Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.69 EPS. On average, analysts predict that Seagate Technology PLC will post $3.69 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 8.14%. The ex-dividend date of this dividend is Tuesday, September 19th. Seagate Technology PLC’s dividend payout ratio is currently 97.67%.

A number of equities research analysts have recently issued reports on STX shares. Zacks Investment Research upgraded Seagate Technology PLC from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Royal Bank Of Canada restated a “hold” rating and issued a $45.00 price target on shares of Seagate Technology PLC in a research note on Friday, June 9th. Barclays PLC cut Seagate Technology PLC from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $49.00 to $40.00 in a research note on Thursday, July 13th. Citigroup Inc. dropped their price target on Seagate Technology PLC from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 18th. Finally, Craig Hallum cut Seagate Technology PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. Five equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Seagate Technology PLC has a consensus rating of “Hold” and a consensus target price of $40.06.

Seagate Technology PLC 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.

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

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