Spark Investment Management LLC continued to hold its position in Seagate Technology PLC (NASDAQ:STX) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 71,100 shares of the data storage provider’s stock at the end of the second quarter. Spark Investment Management LLC’s holdings in Seagate Technology PLC were worth $2,755,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in STX. Meridian Wealth Management LLC increased its position in Seagate Technology PLC by 7.9% in the second quarter. Meridian Wealth Management LLC now owns 8,284 shares of the data storage provider’s stock valued at $321,000 after buying an additional 604 shares during the period. Ledyard National Bank increased its position in Seagate Technology PLC by 1,318.3% in the first quarter. Ledyard National Bank now owns 4,255 shares of the data storage provider’s stock valued at $195,000 after buying an additional 3,955 shares during the period. Sii Investments Inc. WI increased its position in 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 valued at $295,000 after buying an additional 269 shares during the period. Global X Management Co. LLC increased its position in Seagate Technology PLC by 29.2% in the first quarter. Global X Management Co. LLC now owns 3,490 shares of the data storage provider’s stock valued at $160,000 after buying an additional 789 shares during the period. Finally, Suntrust Banks Inc. increased its position in Seagate Technology PLC by 124.8% in the first quarter. Suntrust Banks Inc. now owns 55,237 shares of the data storage provider’s stock valued at $2,535,000 after buying an additional 30,668 shares during the period. 86.54% of the stock is owned by institutional investors and hedge funds.

Shares of Seagate Technology PLC (NASDAQ:STX) opened at 33.43 on Friday. Seagate Technology PLC has a one year low of $30.09 and a one year high of $50.96. The stock’s 50 day moving average price is $38.76 and its 200-day moving average price is $43.35. The stock has a market cap of $9.76 billion, a PE ratio of 12.96 and a beta of 1.69.

Seagate Technology PLC (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 25th. The data storage provider reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by $0.34. The business had revenue of $2.41 billion during 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 firm’s revenue was down 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.69 earnings per share. On average, equities analysts predict that Seagate Technology PLC will post $3.70 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 20th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 7.54%. The ex-dividend date of this dividend is Tuesday, September 19th. Seagate Technology PLC’s payout ratio is currently 97.67%.

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Several research analysts have recently issued reports on STX shares. Benchmark Co. downgraded Seagate Technology PLC from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Cowen and Company reiterated a “market perform” rating and set a $45.00 price objective (down previously from $46.00) on shares of Seagate Technology PLC in a research report on Wednesday, April 26th. Zacks Investment Research cut Seagate Technology PLC from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 27th. BidaskClub cut Seagate Technology PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $45.00 price objective (down previously from $46.00) on shares of Seagate Technology PLC in a research report on Saturday, April 29th. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Seagate Technology PLC has an average rating of “Hold” and an average price target of $42.12.

In other Seagate Technology PLC news, CFO David H. Morton, Jr. sold 3,040 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $43.26, for a total value of $131,510.40. Following the transaction, the chief financial officer now directly owns 9,063 shares of the company’s stock, valued at approximately $392,065.38. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Philip G. Brace bought 1,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was purchased at an average cost of $33.34 per share, for a total transaction of $33,340.00. Following the completion of the transaction, the insider now owns 62,855 shares in the company, valued at $2,095,585.70. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 16,456 shares of company stock worth $715,313. 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.

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

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