Schwab Charles Investment Management Inc. raised its holdings in shares of Seagate Technology PLC (NASDAQ:STX) by 5.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,067,976 shares of the data storage provider’s stock after purchasing an additional 54,479 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.37% of Seagate Technology PLC worth $41,385,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Cleararc Capital Inc. boosted its stake in Seagate Technology PLC by 0.7% during the 1st quarter. Cleararc Capital Inc. now owns 7,195 shares of the data storage provider’s stock valued at $330,000 after purchasing an additional 51 shares during the last quarter. IHT Wealth Management LLC boosted its stake in Seagate Technology PLC by 1.6% during the 1st quarter. IHT Wealth Management LLC now owns 12,225 shares of the data storage provider’s stock valued at $562,000 after purchasing an additional 194 shares during the last quarter. Sii Investments Inc. WI boosted its stake in Seagate Technology PLC by 4.3% during the 1st quarter. Sii Investments Inc. WI now owns 6,465 shares of the data storage provider’s stock valued at $295,000 after purchasing an additional 269 shares during the last quarter. Arizona State Retirement System boosted its stake in Seagate Technology PLC by 0.4% during the 1st quarter. Arizona State Retirement System now owns 73,100 shares of the data storage provider’s stock valued at $3,357,000 after purchasing an additional 300 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Seagate Technology PLC by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 18,400 shares of the data storage provider’s stock valued at $713,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 88.65% of the company’s stock.

Several analysts have commented on STX shares. Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $44.00 target price (up from $43.00) on shares of Seagate Technology PLC in a research note on Thursday, June 1st. Royal Bank Of Canada reiterated a “hold” rating and set a $45.00 target price on shares of Seagate Technology PLC in a research note on Friday, June 9th. Aegis started coverage on Seagate Technology PLC in a research note on Tuesday, June 13th. They set a “buy” rating and a $50.00 target price on the stock. Evercore ISI started coverage on Seagate Technology PLC in a research note on Friday, June 16th. They set an “in-line” rating and a $48.00 target price on the stock. Finally, Barclays PLC downgraded Seagate Technology PLC from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $49.00 to $40.00 in a research note on Thursday, July 13th. Five equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Seagate Technology PLC has an average rating of “Hold” and an average target price of $41.53.

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In related news, insider Philip G. Brace purchased 1,000 shares of Seagate Technology PLC stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average price of $33.34 per share, for a total transaction of $33,340.00. Following the transaction, the insider now directly owns 62,855 shares in the company, valued at $2,095,585.70. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.87% of the stock is owned by corporate insiders.

Seagate Technology PLC (STX) opened at 31.99 on Monday. The stock’s 50 day moving average price is $32.70 and its 200-day moving average price is $41.15. Seagate Technology PLC has a 12 month low of $30.60 and a 12 month high of $50.96. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of 12.40 and a beta of 1.69.

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

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th will be given a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 19th. This represents a $2.52 annualized dividend and a dividend yield of 7.88%. Seagate Technology PLC’s dividend payout ratio (DPR) is presently 97.67%.

About Seagate Technology PLC

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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