Ieq Capital LLC increased its position in Seagate Technology PLC (NASDAQ:STX) by 10.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,855 shares of the data storage provider’s stock after purchasing an additional 846 shares during the period. Ieq Capital LLC’s holdings in Seagate Technology were worth $432,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. WASHINGTON TRUST Co acquired a new position in Seagate Technology in the first quarter worth about $29,000. Private Capital Group LLC grew its stake in Seagate Technology by 50.8% in the first quarter. Private Capital Group LLC now owns 1,440 shares of the data storage provider’s stock worth $71,000 after purchasing an additional 485 shares in the last quarter. AE Wealth Management LLC acquired a new position in Seagate Technology in the first quarter worth about $284,000. Benjamin F. Edwards & Company Inc. boosted its stake in Seagate Technology by 36.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 12,528 shares of the data storage provider’s stock valued at $611,000 after acquiring an additional 3,354 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Seagate Technology by 2.4% in the first quarter. Russell Investments Group Ltd. now owns 99,396 shares of the data storage provider’s stock valued at $4,895,000 after acquiring an additional 2,374 shares during the period. Institutional investors and hedge funds own 86.45% of the company’s stock.

In related news, Director Stephen J. Luczo sold 5,000 shares of Seagate Technology stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $47.00, for a total transaction of $235,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ban Seng Teh sold 499 shares of Seagate Technology stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $50.79, for a total transaction of $25,344.21. Following the completion of the sale, the senior vice president now owns 11,198 shares of the company’s stock, valued at approximately $568,746.42. The disclosure for this sale can be found here. Insiders have sold a total of 100,996 shares of company stock valued at $5,018,114 in the last ninety days. 1.12% of the stock is currently owned by insiders.

Shares of STX traded down $0.30 during midday trading on Friday, reaching $47.77. The stock had a trading volume of 1,811,221 shares, compared to its average volume of 2,953,727. The firm has a 50 day simple moving average of $49.03 and a 200-day simple moving average of $54.46. Seagate Technology PLC has a one year low of $39.02 and a one year high of $64.17. The firm has a market cap of $12.34 billion, a PE ratio of 7.13, a P/E/G ratio of 8.46 and a beta of 1.07. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 2.28.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Wednesday, April 22nd. The data storage provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.19 by $0.19. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.64 billion. Seagate Technology had a net margin of 17.57% and a return on equity of 62.81%. Seagate Technology’s revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.83 EPS. As a group, research analysts forecast that Seagate Technology PLC will post 4.99 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Wednesday, June 24th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 5.44%. The ex-dividend date of this dividend is Tuesday, June 23rd. Seagate Technology’s payout ratio is 53.94%.

A number of equities analysts have commented on STX shares. Morgan Stanley decreased their target price on Seagate Technology from $60.00 to $56.00 and set an “overweight” rating for the company in a research note on Wednesday, March 25th. Benchmark restated a “buy” rating on shares of Seagate Technology in a research note on Wednesday, February 5th. Goldman Sachs Group started coverage on Seagate Technology in a research note on Monday, April 13th. They issued a “sell” rating and a $41.00 target price for the company. Stifel Nicolaus restated a “buy” rating and issued a $68.00 target price on shares of Seagate Technology in a research note on Friday, April 24th. Finally, Wells Fargo & Co lifted their target price on Seagate Technology from $50.00 to $55.00 and gave the company an “equal weight” rating in a research note on Thursday, April 23rd. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the stock. Seagate Technology currently has an average rating of “Hold” and a consensus target price of $54.95.

Seagate Technology 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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