Russell Investments Group Ltd. Trims Stock Holdings in Seagate Technology PLC (NASDAQ:STX)

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Russell Investments Group Ltd. trimmed its holdings in Seagate Technology PLC (NASDAQ:STX) by 5.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,333 shares of the data storage provider’s stock after selling 4,889 shares during the period. Russell Investments Group Ltd.’s holdings in Seagate Technology were worth $4,536,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. grew its position in shares of Seagate Technology by 6.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 25,631 shares of the data storage provider’s stock valued at $1,378,000 after purchasing an additional 1,587 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Seagate Technology by 23.2% during the 3rd quarter. California Public Employees Retirement System now owns 612,541 shares of the data storage provider’s stock valued at $32,949,000 after purchasing an additional 115,307 shares in the last quarter. Hikari Power Ltd purchased a new position in shares of Seagate Technology during the 3rd quarter valued at $215,000. Usca Ria LLC purchased a new position in shares of Seagate Technology during the 3rd quarter valued at $151,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Seagate Technology by 5.7% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 68,487 shares of the data storage provider’s stock valued at $3,684,000 after purchasing an additional 3,700 shares in the last quarter. Institutional investors and hedge funds own 84.44% of the company’s stock.

NASDAQ STX opened at $60.09 on Tuesday. Seagate Technology PLC has a 52-week low of $35.38 and a 52-week high of $60.56. 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 market capitalization of $15.29 billion, a P/E ratio of 12.47, a P/E/G ratio of 9.93 and a beta of 1.63. The company has a fifty day moving average of $56.00 and a 200-day moving average of $49.62.

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

A number of research analysts have recently commented on STX shares. Mizuho restated a “hold” rating and set a $53.00 price target on shares of Seagate Technology in a research report on Friday, November 1st. Cowen boosted their price target 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. Morgan Stanley set a $61.00 price target on shares of Seagate Technology and gave the company a “buy” rating in a research report on Monday, November 4th. ValuEngine upgraded shares of Seagate Technology from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Benchmark boosted their price target on shares of Seagate Technology from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $49.10.

In other Seagate Technology news, Director Stephen J. Luczo sold 5,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $55.29, for a total value of $276,450.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William D. Mosley sold 90,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $54.31, for a total transaction of $4,887,900.00. The disclosure for this sale can be found here. Insiders sold 468,440 shares of company stock valued at $26,588,878 over the last three months. 1.12% of the stock is currently owned by insiders.

Seagate Technology Company Profile

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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