Daiwa Securities Group Inc. trimmed its holdings in Seagate Technology PLC (NASDAQ:STX) by 4.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,020 shares of the data storage provider’s stock after selling 500 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Seagate Technology were worth $539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of STX. Bartlett & Co. LLC raised its holdings in shares of Seagate Technology by 482.2% during the third quarter. Bartlett & Co. LLC now owns 850 shares of the data storage provider’s stock worth $46,000 after acquiring an additional 704 shares in the last quarter. Tibra Equities Europe Ltd purchased a new stake in shares of Seagate Technology during the third quarter worth $1,936,000. Citizens Financial Group Inc RI purchased a new stake in shares of Seagate Technology during the third quarter worth $26,000. Wright Investors Service Inc. raised its holdings in shares of Seagate Technology by 19.4% during the third quarter. Wright Investors Service Inc. now owns 8,190 shares of the data storage provider’s stock worth $441,000 after acquiring an additional 1,328 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Seagate Technology by 6.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 25,631 shares of the data storage provider’s stock worth $1,378,000 after acquiring an additional 1,587 shares in the last quarter. 85.50% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently issued reports on STX. Craig Hallum downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating and set a $56.00 target price on the stock. in a research report on Friday, September 20th. Benchmark increased their target price on shares of Seagate Technology from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Barclays reissued a “sell” rating and set a $42.00 target price on shares of Seagate Technology in a research report on Sunday, November 3rd. UBS Group increased their target price on shares of Seagate Technology from $38.00 to $41.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Finally, BidaskClub raised shares of Seagate Technology from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Seagate Technology currently has an average rating of “Hold” and a consensus target price of $49.10.

In other news, EVP James J. Murphy sold 123,607 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $57.74, for a total value of $7,137,068.18. Following the sale, the executive vice president now directly owns 98,377 shares of the company’s stock, valued at $5,680,287.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James J. Murphy sold 76,393 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $57.67, for a total value of $4,405,584.31. Following the completion of the sale, the executive vice president now directly owns 128,377 shares in the company, valued at $7,403,501.59. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 473,440 shares of company stock worth $26,823,878. 1.12% of the stock is currently owned by company insiders.

Shares of NASDAQ:STX opened at $58.13 on Thursday. The company has a market cap of $15.30 billion, a P/E ratio of 12.06, a P/E/G ratio of 9.94 and a beta of 1.63. The stock’s 50-day moving average is $55.40 and its 200-day moving average is $49.27. Seagate Technology PLC has a 52-week low of $35.38 and a 52-week high of $58.80. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.17 and a current ratio of 1.58.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Friday, November 1st. The data storage provider reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.03. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.57 billion. Seagate Technology had a return on equity of 61.26% and a net margin of 17.66%. The firm’s revenue was down 13.8% compared to the same quarter last year. During the same period last year, the business posted $1.70 earnings per share. As a group, equities analysts predict that Seagate Technology PLC will post 4.84 EPS for the current year.

About Seagate Technology

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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