Commerzbank Aktiengesellschaft FI decreased its holdings in Seagate Technology PLC (NASDAQ:STX) by 1.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 296,456 shares of the data storage provider’s stock after selling 3,040 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Seagate Technology were worth $16,741,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Renaissance Technologies LLC acquired a new stake in Seagate Technology during the 4th quarter worth approximately $1,029,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its position in shares of Seagate Technology by 683.9% in the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 108,055 shares of the data storage provider’s stock worth $6,121,000 after purchasing an additional 94,271 shares during the period. Dean Capital Investments Management LLC acquired a new position in shares of Seagate Technology in the 1st quarter worth approximately $209,000. Wedbush Securities Inc. increased its stake in shares of Seagate Technology by 11.7% in the 1st quarter. Wedbush Securities Inc. now owns 11,785 shares of the data storage provider’s stock valued at $690,000 after acquiring an additional 1,231 shares in the last quarter. Finally, Private Advisory Group LLC bought a new stake in shares of Seagate Technology in the 1st quarter valued at $324,000. Hedge funds and other institutional investors own 83.35% of the company’s stock.

Shares of Seagate Technology stock opened at $53.14 on Friday. Seagate Technology PLC has a 12-month low of $30.89 and a 12-month high of $62.70. The stock has a market capitalization of $16.19 billion, a PE ratio of 9.64, a PEG ratio of 0.73 and a beta of 1.74. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 2.59.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Monday, July 30th. The data storage provider reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.17. Seagate Technology had a net margin of 10.57% and a return on equity of 120.71%. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the prior year, the firm posted $0.65 earnings per share. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. analysts anticipate that Seagate Technology PLC will post 6.23 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Wednesday, September 19th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend is Tuesday, September 18th. Seagate Technology’s payout ratio is 45.74%.

Several analysts have recently issued reports on STX shares. Goldman Sachs Group lowered shares of Seagate Technology from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $50.00 to $44.00 in a research note on Thursday, August 9th. BidaskClub downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Zacks Investment Research raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Tuesday, July 31st. Benchmark reissued a “hold” rating on shares of Seagate Technology in a report on Tuesday, July 31st. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $62.00 price objective on shares of Seagate Technology in a report on Monday, July 30th. Three research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $53.77.

In related news, Director Holdings L.P. Valueact acquired 500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 31st. The shares were bought at an average cost of $52.65 per share, for a total transaction of $26,325,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Valueact Capital Master Fund, acquired 946,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The stock was bought at an average price of $52.78 per share, for a total transaction of $49,929,880.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 6,207,648 shares of company stock worth $322,103,805 and sold 145,577 shares worth $8,405,850. Corporate insiders own 0.87% of the company’s stock.

Seagate Technology Profile

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company manufactures and distributes hard disk drives, solid state drives and their related controllers, solid state hybrid drives, and storage subsystems. Its products are used in enterprise servers and storage systems applications; client compute applications, primarily for desktop and mobile computing; and client non-compute applications, including various end user devices, such as portable external storage systems, surveillance systems, network-attached storage, digital video recorders, and gaming consoles.

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

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