Commonwealth Bank of Australia lessened its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 8.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 159,011 shares of the data storage provider’s stock after selling 14,897 shares during the quarter. Commonwealth Bank of Australia owned about 0.06% of Seagate Technology worth $8,975,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. increased its position in Seagate Technology by 4.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 24,496 shares of the data storage provider’s stock worth $1,434,000 after acquiring an additional 1,046 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in Seagate Technology by 1.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 78,944 shares of the data storage provider’s stock worth $4,458,000 after acquiring an additional 1,072 shares during the period. Acadian Asset Management LLC increased its position in Seagate Technology by 25.5% during the second quarter. Acadian Asset Management LLC now owns 5,344 shares of the data storage provider’s stock worth $302,000 after acquiring an additional 1,087 shares during the period. American Century Companies Inc. increased its position in Seagate Technology by 0.3% during the first quarter. American Century Companies Inc. now owns 380,068 shares of the data storage provider’s stock worth $22,242,000 after acquiring an additional 1,099 shares during the period. Finally, State Treasurer State of Michigan increased its position in Seagate Technology by 1.3% during the second quarter. State Treasurer State of Michigan now owns 84,940 shares of the data storage provider’s stock worth $4,797,000 after acquiring an additional 1,100 shares during the period. Institutional investors own 83.40% of the company’s stock.

STX stock opened at $49.41 on Wednesday. The company has a debt-to-equity ratio of 2.59, a quick ratio of 1.02 and a current ratio of 1.35. Seagate Technology PLC has a 12 month low of $30.89 and a 12 month high of $62.70. The stock has a market capitalization of $15.38 billion, a price-to-earnings ratio of 8.97, a PEG ratio of 0.69 and a beta of 1.73.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Monday, July 30th. The data storage provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.17. Seagate Technology had a net margin of 10.57% and a return on equity of 120.71%. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period last year, the company posted $0.65 EPS. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. equities research analysts forecast that Seagate Technology PLC will post 6.23 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Wednesday, September 19th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, September 18th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 5.10%. Seagate Technology’s payout ratio is currently 45.74%.

In related news, Director Holdings L.P. Valueact purchased 581,291 shares of Seagate Technology stock in a transaction dated Thursday, August 9th. The shares were bought at an average cost of $51.36 per share, for a total transaction of $29,855,105.76. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Valueact Capital Master Fund, purchased 946,000 shares of Seagate Technology stock in a transaction dated Thursday, August 2nd. The stock was bought at an average price of $52.78 per share, for a total transaction of $49,929,880.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 6,207,648 shares of company stock worth $322,103,805 and sold 46,086 shares worth $2,529,660. Company insiders own 0.87% of the company’s stock.

A number of research firms recently commented on STX. BidaskClub lowered shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Evercore ISI lowered shares of Seagate Technology from an “in-line” rating to an “underperform” rating and lowered their price target for the stock from $55.00 to $45.00 in a research report on Tuesday. Zacks Investment Research lowered shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, August 21st. Goldman Sachs Group lowered shares of Seagate Technology from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $50.00 to $44.00 in a research report on Thursday, August 9th. Finally, Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a research report on Tuesday, July 31st. Four investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have issued a buy rating to the stock. Seagate Technology has a consensus rating of “Hold” and a consensus price target of $53.37.

Seagate Technology Company Profile

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company manufactures and distributes hard disk drives, solid state drives and their related controllers, solid state hybrid drives, and storage subsystems. Its products are used in enterprise servers and storage systems applications; client compute applications, primarily for desktop and mobile computing; and client non-compute applications, including various end user devices, such as portable external storage systems, surveillance systems, network-attached storage, digital video recorders, and gaming consoles.

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

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