Wells Fargo & Company MN raised its holdings in shares of Seagate Technology PLC (NASDAQ:STX) by 6.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,239,741 shares of the data storage provider’s stock after purchasing an additional 138,502 shares during the period. Wells Fargo & Company MN’s holdings in Seagate Technology were worth $106,051,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in STX. WESPAC Advisors SoCal LLC acquired a new position in shares of Seagate Technology during the third quarter valued at $108,000. Quad Cities Investment Group LLC acquired a new position in shares of Seagate Technology during the second quarter valued at $124,000. Partners Capital Investment Group LLP acquired a new position in shares of Seagate Technology during the second quarter valued at $136,000. First Hawaiian Bank acquired a new position in shares of Seagate Technology during the third quarter valued at $139,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Seagate Technology during the second quarter valued at $146,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

STX stock opened at $42.61 on Tuesday. The stock has a market capitalization of $12.32 billion, a P/E ratio of 7.73, a P/E/G ratio of 0.65 and a beta of 1.71. Seagate Technology PLC has a fifty-two week low of $36.69 and a fifty-two week high of $62.70. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.42 and a quick ratio of 1.07.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Friday, November 2nd. The data storage provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.15. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.95 billion. Seagate Technology had a net margin of 12.57% and a return on equity of 123.05%. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.96 earnings per share. On average, analysts anticipate that Seagate Technology PLC will post 5.33 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Wednesday, December 19th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 5.91%. The ex-dividend date of this dividend is Tuesday, December 18th. Seagate Technology’s payout ratio is currently 45.74%.

In other Seagate Technology news, CFO Kathryn R. Scolnick sold 10,577 shares of the business’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $53.12, for a total value of $561,850.24. Following the sale, the chief financial officer now directly owns 759 shares in the company, valued at $40,318.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Valueact Capital Master Fund, purchased 931,882 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was acquired at an average price of $52.82 per share, for a total transaction of $49,222,007.24. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 1,455,082 shares of company stock valued at $76,840,447 and sold 46,086 shares valued at $2,529,660. Corporate insiders own 1.00% of the company’s stock.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Monday, July 16th. BidaskClub downgraded shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 25th. Goldman Sachs Group downgraded shares of Seagate Technology from a “neutral” rating to a “sell” rating and reduced their price target for the company from $50.00 to $44.00 in a report on Thursday, August 9th. Royal Bank of Canada reissued a “hold” rating and set a $62.00 price target on shares of Seagate Technology in a report on Monday, July 30th. Finally, Benchmark reissued a “hold” rating on shares of Seagate Technology in a report on Tuesday, July 31st. Five analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $50.91.

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Seagate Technology Company Profile

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.

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

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