Commonwealth Equity Services LLC Trims Stock Position in Seagate Technology PLC (NASDAQ:STX)

Commonwealth Equity Services LLC lessened its holdings in Seagate Technology PLC (NASDAQ:STX) by 7.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,132 shares of the data storage provider’s stock after selling 5,018 shares during the period. Commonwealth Equity Services LLC’s holdings in Seagate Technology were worth $3,288,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in STX. State of Tennessee Treasury Department raised its position in shares of Seagate Technology by 0.6% in the third quarter. State of Tennessee Treasury Department now owns 116,257 shares of the data storage provider’s stock valued at $6,254,000 after buying an additional 704 shares during the last quarter. Crossvault Capital Management LLC acquired a new position in shares of Seagate Technology in the third quarter valued at approximately $748,000. Steward Partners Investment Advisory LLC raised its position in shares of Seagate Technology by 10.1% in the third quarter. Steward Partners Investment Advisory LLC now owns 12,694 shares of the data storage provider’s stock valued at $682,000 after buying an additional 1,166 shares during the last quarter. Sfmg LLC acquired a new position in shares of Seagate Technology in the third quarter valued at approximately $224,000. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in shares of Seagate Technology by 57.5% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 16,510 shares of the data storage provider’s stock valued at $885,000 after buying an additional 6,027 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors.

In other news, EVP Jeffrey D. Nygaard sold 12,000 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $53.78, for a total value of $645,360.00. Following the completion of the sale, the executive vice president now owns 31,985 shares of the company’s stock, valued at $1,720,153.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen J. Luczo sold 5,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $47.00, for a total transaction of $235,000.00. Following the completion of the sale, the director now directly owns 14,221 shares of the company’s stock, valued at approximately $668,387. The disclosure for this sale can be found here. Insiders have sold 443,969 shares of company stock valued at $25,101,220 in the last ninety days. 1.12% of the stock is currently owned by company insiders.

A number of research firms have recently weighed in on STX. Barclays reissued a “sell” rating and issued a $42.00 price objective on shares of Seagate Technology in a research report on Sunday, November 3rd. Cowen boosted their price objective on shares of Seagate Technology from $51.00 to $60.00 and gave the company a “market perform” rating in a research report on Monday, November 4th. Wells Fargo & Co boosted their price objective on shares of Seagate Technology from $45.00 to $48.00 and gave the company a “market perform” rating in a research report on Friday, September 13th. FBN Securities boosted their price objective on shares of Seagate Technology from $55.00 to $60.00 in a research report on Thursday, September 19th. Finally, Mizuho reissued a “hold” rating and issued a $53.00 price objective on shares of Seagate Technology in a research report on Friday, November 1st. Six research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $49.10.

Shares of STX stock opened at $58.79 on Friday. Seagate Technology PLC has a one year low of $35.38 and a one year high of $58.80. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.17 and a current ratio of 1.58. The company has a 50 day moving average price of $54.94 and a 200 day moving average price of $49.07. The firm has a market capitalization of $15.15 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 10.06 and a beta of 1.63.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Friday, November 1st. The data storage provider reported $1.03 EPS for the quarter, topping the consensus estimate of $1.00 by $0.03. Seagate Technology had a net margin of 17.66% and a return on equity of 61.26%. The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the prior year, the business posted $1.70 earnings per share. Seagate Technology’s revenue for the quarter was down 13.8% compared to the same quarter last year. As a group, equities analysts forecast that Seagate Technology PLC will post 4.84 EPS for the current fiscal year.

About Seagate Technology

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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