American International Group Inc. cut its stake in Seagate Technology PLC (NASDAQ:STX) by 5.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,636 shares of the data storage provider’s stock after selling 7,520 shares during the period. American International Group Inc.’s holdings in Seagate Technology were worth $4,234,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Good Life Advisors LLC boosted its holdings in shares of Seagate Technology by 0.3% during the 2nd quarter. Good Life Advisors LLC now owns 9,883 shares of the data storage provider’s stock worth $379,000 after buying an additional 26 shares in the last quarter. L & S Advisors Inc boosted its holdings in shares of Seagate Technology by 0.5% during the 2nd quarter. L & S Advisors Inc now owns 19,412 shares of the data storage provider’s stock worth $752,000 after buying an additional 100 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Seagate Technology by 0.3% during the 2nd quarter. Neuberger Berman Group LLC now owns 48,218 shares of the data storage provider’s stock worth $1,868,000 after buying an additional 152 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Seagate Technology by 0.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,065 shares of the data storage provider’s stock worth $855,000 after buying an additional 169 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in shares of Seagate Technology by 0.3% during the 2nd quarter. D.A. Davidson & CO. now owns 89,587 shares of the data storage provider’s stock worth $3,471,000 after buying an additional 236 shares in the last quarter. Institutional investors and hedge funds own 91.76% of the company’s stock.

In other news, CFO David H. Morton, Jr. sold 7,909 shares of the firm’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $40.00, for a total transaction of $316,360.00. Following the completion of the sale, the chief financial officer now directly owns 25,561 shares of the company’s stock, valued at approximately $1,022,440. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Philip G. Brace sold 5,403 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $36.79, for a total value of $198,776.37. Following the sale, the insider now directly owns 33,069 shares of the company’s stock, valued at $1,216,608.51. The disclosure for this sale can be found here. Insiders sold a total of 44,981 shares of company stock valued at $1,656,761 over the last three months. 0.87% of the stock is currently owned by insiders.

A number of equities analysts have issued reports on STX shares. Mizuho restated a “hold” rating and set a $36.00 price target on shares of Seagate Technology in a report on Monday, October 9th. FBN Securities cut Seagate Technology from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $40.00 to $32.00 in a report on Monday, September 11th. Royal Bank Of Canada reiterated a “hold” rating and issued a $35.00 target price on shares of Seagate Technology in a report on Friday, September 1st. Zacks Investment Research upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Thursday, October 26th. Finally, BidaskClub upgraded Seagate Technology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 25th. Four research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Seagate Technology has a consensus rating of “Hold” and a consensus price target of $41.53.

Shares of Seagate Technology PLC (NASDAQ:STX) opened at $39.13 on Wednesday. The company has a market capitalization of $11,341.29, a price-to-earnings ratio of 9.58, a P/E/G ratio of 0.52 and a beta of 1.67. Seagate Technology PLC has a 12-month low of $30.60 and a 12-month high of $50.96. The company has a debt-to-equity ratio of 4.03, a current ratio of 1.96 and a quick ratio of 1.55.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Monday, October 23rd. The data storage provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.10. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. Seagate Technology had a return on equity of 84.50% and a net margin of 7.41%. Seagate Technology’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 EPS. equities analysts anticipate that Seagate Technology PLC will post 3.99 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 6.44%. The ex-dividend date is Tuesday, December 19th. Seagate Technology’s payout ratio is currently 95.09%.

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About Seagate Technology

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 (NASDAQ:STX)

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