Seagate Technology PLC (STX) Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC cut its stake in Seagate Technology PLC (NASDAQ:STX) by 58.5% during the first quarter, Holdings Channel reports. The institutional investor owned 3,443,251 shares of the data storage provider’s stock after selling 4,862,425 shares during the period. Pzena Investment Management LLC’s holdings in Seagate Technology PLC were worth $158,149,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. BP PLC increased its stake in shares of Seagate Technology PLC by 86.1% in the fourth quarter. BP PLC now owns 67,000 shares of the data storage provider’s stock valued at $2,557,000 after buying an additional 31,000 shares during the last quarter. Ledyard National Bank increased its stake in shares of 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 last quarter. First Republic Investment Management Inc. increased its stake in shares of Seagate Technology PLC by 0.5% in the fourth quarter. First Republic Investment Management Inc. now owns 47,261 shares of the data storage provider’s stock valued at $1,804,000 after buying an additional 235 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Seagate Technology PLC by 4.6% in the fourth quarter. Franklin Resources Inc. now owns 16,984 shares of the data storage provider’s stock valued at $648,000 after buying an additional 743 shares during the last quarter. Finally, Trexquant Investment LP increased its stake in shares of Seagate Technology PLC by 105.8% in the fourth quarter. Trexquant Investment LP now owns 35,700 shares of the data storage provider’s stock valued at $1,363,000 after buying an additional 18,354 shares during the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

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

Seagate Technology PLC (NASDAQ:STX) traded up 0.62% during mid-day trading on Friday, hitting $42.51. 3,271,544 shares of the stock traded hands. The firm has a market cap of $12.61 billion, a price-to-earnings ratio of 17.49 and a beta of 1.93. Seagate Technology PLC has a 1-year low of $20.29 and a 1-year high of $50.96. The stock has a 50-day moving average of $45.28 and a 200 day moving average of $42.61.

Seagate Technology PLC (NASDAQ:STX) last posted its quarterly earnings data on Wednesday, April 26th. The data storage provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.04. The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.71 billion. Seagate Technology PLC had a net margin of 4.69% and a return on equity of 62.25%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.22 earnings per share. On average, equities analysts expect that Seagate Technology PLC will post $4.45 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Wednesday, June 21st will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 5.96%. The ex-dividend date is Monday, June 19th. Seagate Technology PLC’s payout ratio is currently 147.37%.

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A number of equities research analysts have commented on STX shares. Vetr raised shares of Seagate Technology PLC from a “buy” rating to a “strong-buy” rating and set a $50.83 price objective on the stock in a research report on Tuesday, March 21st. Jefferies Group LLC dropped their price objective on shares of Seagate Technology PLC from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, April 28th. Longbow Research raised shares of Seagate Technology PLC from a “neutral” rating to a “buy” rating and increased their price objective for the company from $18.42 to $55.00 in a research report on Tuesday, April 11th. Cowen and Company reissued a “market perform” rating and issued a $45.00 price objective (down from $46.00) on shares of Seagate Technology PLC in a research report on Wednesday, April 26th. Finally, Susquehanna Bancshares Inc reissued a “neutral” rating on shares of Seagate Technology PLC in a research report on Wednesday, April 12th. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $42.38.

In other Seagate Technology PLC news, CEO Stephen J. Luczo sold 100,000 shares of the company’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $50.00, for a total value of $5,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 27,188 shares of the company’s stock, valued at approximately $1,359,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David H. Morton, Jr. sold 6,197 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $47.34, for a total transaction of $293,365.98. Following the completion of the sale, the chief financial officer now directly owns 18,300 shares of the company’s stock, valued at $866,322. The disclosure for this sale can be found here. Insiders sold 158,194 shares of company stock valued at $7,701,279 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.

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.

5 Day Chart for NASDAQ:STX

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