Royal London Asset Management Ltd. bought a new stake in Seagate Technology PLC (NASDAQ:STX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 121,559 shares of the data storage provider’s stock, valued at approximately $6,863,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE raised its position in Seagate Technology by 17.2% during the 1st quarter. US Bancorp DE now owns 12,722 shares of the data storage provider’s stock valued at $745,000 after purchasing an additional 1,867 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Seagate Technology by 4.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 24,496 shares of the data storage provider’s stock valued at $1,434,000 after purchasing an additional 1,046 shares during the last quarter. IFP Advisors Inc raised its position in Seagate Technology by 7.6% during the 1st quarter. IFP Advisors Inc now owns 16,778 shares of the data storage provider’s stock valued at $982,000 after purchasing an additional 1,178 shares during the last quarter. Toronto Dominion Bank raised its position in Seagate Technology by 23.5% during the 1st quarter. Toronto Dominion Bank now owns 153,843 shares of the data storage provider’s stock valued at $9,001,000 after purchasing an additional 29,307 shares during the last quarter. Finally, First Republic Investment Management Inc. raised its position in Seagate Technology by 16.3% during the 1st quarter. First Republic Investment Management Inc. now owns 44,188 shares of the data storage provider’s stock valued at $2,586,000 after purchasing an additional 6,196 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

Seagate Technology stock opened at $48.49 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 2.59. The company has a market capitalization of $14.19 billion, a P/E ratio of 8.80, a P/E/G ratio of 0.63 and a beta of 1.73. Seagate Technology PLC has a twelve month low of $32.41 and a twelve month high of $62.70.

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, topping the consensus estimate of $1.45 by $0.17. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.80 billion. Seagate Technology had a return on equity of 120.71% and a net margin of 10.57%. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 EPS. analysts expect that Seagate Technology PLC will post 6.3 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Investors of record on Wednesday, September 19th will be paid a $0.63 dividend. The ex-dividend date is Tuesday, September 18th. This represents a $2.52 annualized dividend and a dividend yield of 5.20%. Seagate Technology’s payout ratio is currently 45.74%.

In other Seagate Technology news, insider Valueact Capital Master Fund, bought 946,000 shares of the business’s stock in a transaction on Thursday, August 2nd. The shares were acquired at an average cost of $52.78 per share, for a total transaction of $49,929,880.00. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James J. Murphy sold 509 shares of the stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $56.60, for a total value of $28,809.40. Following the sale, the executive vice president now owns 37,693 shares in the company, valued at $2,133,423.80. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 6,207,648 shares of company stock worth $322,103,805 and sold 46,086 shares worth $2,529,660. Corporate insiders own 1.00% of the company’s stock.

Several brokerages have recently issued reports on STX. Royal Bank of Canada reissued a “hold” rating and issued a $62.00 target price on shares of Seagate Technology in a research report on Monday, July 30th. Goldman Sachs Group set a $39.00 target price on Seagate Technology and gave the stock a “sell” rating in a research report on Wednesday, September 12th. BidaskClub raised Seagate Technology from a “hold” rating to a “buy” rating in a research report on Tuesday, August 7th. Zacks Investment Research raised Seagate Technology from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Tuesday, July 31st. Finally, ValuEngine lowered Seagate Technology from a “buy” rating to a “hold” rating in a research report on Thursday, June 7th. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $53.14.

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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