Seagate Technology PLC (STX) Position Cut by TD Asset Management Inc.

TD Asset Management Inc. decreased its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,350,549 shares of the data storage provider’s stock after selling 21,573 shares during the period. TD Asset Management Inc. owned 0.46% of Seagate Technology PLC worth $52,334,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of STX. Cleararc Capital Inc. raised its stake in Seagate Technology PLC by 0.7% in the first quarter. Cleararc Capital Inc. now owns 7,195 shares of the data storage provider’s stock worth $330,000 after buying an additional 51 shares during the period. Mn Services Vermogensbeheer B.V. increased its position in shares of Seagate Technology PLC by 1.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 7,766 shares of the data storage provider’s stock worth $333,000 after buying an additional 115 shares in the last quarter. Dumont & Blake Investment Advisors LLC increased its position in shares of Seagate Technology PLC by 0.7% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 16,163 shares of the data storage provider’s stock worth $742,000 after buying an additional 115 shares in the last quarter. IHT Wealth Management LLC increased its position in shares of Seagate Technology PLC by 1.6% in the first quarter. IHT Wealth Management LLC now owns 12,225 shares of the data storage provider’s stock worth $562,000 after buying an additional 194 shares in the last quarter. Finally, Sii Investments Inc. WI increased its position in shares of Seagate Technology PLC by 4.3% in the first quarter. Sii Investments Inc. WI now owns 6,465 shares of the data storage provider’s stock worth $295,000 after buying an additional 269 shares in the last quarter. 87.27% of the stock is owned by hedge funds and other institutional investors.

Shares of Seagate Technology PLC (NASDAQ:STX) traded down 0.44% during mid-day trading on Friday, reaching $31.37. 2,901,029 shares of the company traded hands. The company has a market capitalization of $9.15 billion, a P/E ratio of 12.16 and a beta of 1.69. Seagate Technology PLC has a 52 week low of $31.04 and a 52 week high of $50.96. The stock’s 50-day moving average is $35.51 and its 200-day moving average is $42.62.

Seagate Technology PLC (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 25th. The data storage provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by $0.34. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. The business’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 earnings per share. On average, equities analysts predict that Seagate Technology PLC will post $3.69 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th will be issued a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 8.03%. Seagate Technology PLC’s dividend payout ratio (DPR) is presently 97.67%.

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Several research firms recently weighed in on STX. Evercore ISI began coverage on Seagate Technology PLC in a research note on Friday, June 16th. They issued an “in-line” rating and a $48.00 price target on the stock. Maxim Group reaffirmed a “hold” rating and issued a $38.00 price objective (down from $46.00) on shares of Seagate Technology PLC in a research report on Wednesday, July 26th. Craig Hallum cut Seagate Technology PLC from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. Mizuho lowered their price target on Seagate Technology PLC from $41.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, July 25th. Finally, Zacks Investment Research raised Seagate Technology PLC from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Four equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $42.12.

In other Seagate Technology PLC news, insider Philip G. Brace purchased 1,000 shares of Seagate Technology PLC stock in a transaction on Tuesday, August 1st. The shares were purchased at an average cost of $33.34 per share, with a total value of $33,340.00. Following the completion of the transaction, the insider now directly owns 62,855 shares in the company, valued at approximately $2,095,585.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David H. Morton, Jr. sold 3,040 shares of Seagate Technology PLC stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $43.26, for a total transaction of $131,510.40. Following the transaction, the chief financial officer now directly owns 9,063 shares in the company, valued at $392,065.38. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Seagate Technology PLC Company Profile

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.

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

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