Seagate Technology PLC (STX) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. reduced its holdings in shares of Seagate Technology PLC (NASDAQ:STX) by 18.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 391,826 shares of the data storage provider’s stock after selling 86,555 shares during the period. Prudential Financial Inc. owned about 0.14% of Seagate Technology PLC worth $12,997,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of STX. Vanguard Group Inc. increased its holdings in shares of Seagate Technology PLC by 7.4% in the 2nd quarter. Vanguard Group Inc. now owns 33,412,003 shares of the data storage provider’s stock valued at $1,294,716,000 after acquiring an additional 2,292,075 shares during the period. BlackRock Inc. increased its holdings in shares of Seagate Technology PLC by 1.4% in the 2nd quarter. BlackRock Inc. now owns 18,592,514 shares of the data storage provider’s stock valued at $720,459,000 after acquiring an additional 256,005 shares during the period. ValueAct Holdings L.P. increased its holdings in shares of Seagate Technology PLC by 44.8% in the 2nd quarter. ValueAct Holdings L.P. now owns 13,815,765 shares of the data storage provider’s stock valued at $535,361,000 after acquiring an additional 4,276,275 shares during the period. LSV Asset Management increased its holdings in shares of Seagate Technology PLC by 1.7% in the 2nd quarter. LSV Asset Management now owns 6,521,232 shares of the data storage provider’s stock valued at $252,697,000 after acquiring an additional 106,811 shares during the period. Finally, APG Asset Management N.V. increased its holdings in shares of Seagate Technology PLC by 4.2% in the 3rd quarter. APG Asset Management N.V. now owns 3,392,370 shares of the data storage provider’s stock valued at $112,525,000 after acquiring an additional 135,300 shares during the period. 90.10% of the stock is owned by hedge funds and other institutional investors.

Shares of Seagate Technology PLC (NASDAQ STX) opened at $39.85 on Tuesday. The stock has a market capitalization of $11,530.00, a price-to-earnings ratio of 9.64, a PEG ratio of 0.52 and a beta of 1.68. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 4.03. Seagate Technology PLC has a 52 week low of $30.60 and a 52 week high of $50.96.

Seagate Technology PLC (NASDAQ:STX) last announced its quarterly earnings data on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.10. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Seagate Technology PLC had a return on equity of 84.50% and a net margin of 7.41%. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period last year, the firm earned $0.99 earnings per share. analysts anticipate that Seagate Technology PLC will post 3.99 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 20th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 6.32%. The ex-dividend date is Tuesday, December 19th. Seagate Technology PLC’s payout ratio is currently 95.45%.

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Several research analysts recently weighed in on STX shares. Vetr downgraded Seagate Technology PLC from a “strong-buy” rating to a “buy” rating and set a $41.39 target price on the stock. in a research note on Tuesday, October 31st. BMO Capital Markets restated a “hold” rating and set a $40.00 target price on shares of Seagate Technology PLC in a research note on Monday, October 23rd. Guggenheim restated a “hold” rating on shares of Seagate Technology PLC in a research note on Monday, October 23rd. BidaskClub upgraded Seagate Technology PLC from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 25th. Finally, Argus reaffirmed a “hold” rating and set a $40.00 price target on shares of Seagate Technology PLC in a research report on Tuesday, October 24th. Four investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $41.39.

In other Seagate Technology PLC news, insider Jeffrey D. Nygaard bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were purchased at an average price of $37.38 per share, with a total value of $186,900.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dambisa F. Moyo sold 8,715 shares of the stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $39.01, for a total value of $339,972.15. Following the completion of the transaction, the director now directly owns 3,316 shares in the company, valued at approximately $129,357.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,527 shares of company stock worth $856,859. Insiders own 0.87% of the company’s stock.

Seagate Technology PLC 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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