Fortis Advisors LLC lifted its position in Seagate Technology PLC (NASDAQ:STX) by 39.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 61,340 shares of the data storage provider’s stock after purchasing an additional 17,500 shares during the quarter. Seagate Technology comprises about 2.0% of Fortis Advisors LLC’s holdings, making the stock its 10th biggest holding. Fortis Advisors LLC’s holdings in Seagate Technology were worth $3,464,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in STX. Quad Cities Investment Group LLC acquired a new position in Seagate Technology in the second quarter valued at about $124,000. Partners Capital Investment Group LLP acquired a new position in Seagate Technology in the second quarter valued at about $136,000. Lee Financial Co acquired a new position in Seagate Technology in the first quarter valued at about $181,000. Harvest Fund Management Co. Ltd acquired a new position in Seagate Technology in the first quarter valued at about $195,000. Finally, Mariner LLC acquired a new position in Seagate Technology in the first quarter valued at about $204,000. 83.35% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have recently issued reports on STX. BidaskClub cut shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 5th. Zacks Investment Research raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Tuesday, July 31st. Royal Bank of Canada reissued a “hold” rating and set a $62.00 price target on shares of Seagate Technology in a research report on Monday, July 30th. ValuEngine cut shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Thursday, June 7th. Finally, Benchmark reissued 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 assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $53.37.

In related news, EVP James J. Murphy sold 509 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $56.60, for a total transaction of $28,809.40. Following the sale, the executive vice president now directly owns 37,693 shares in the company, valued at $2,133,423.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Valueact Capital Master Fund, purchased 2,090,783 shares of the company’s stock in a transaction on Monday, August 13th. The stock was bought at an average price of $50.94 per share, for a total transaction of $106,504,486.02. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 6,207,648 shares of company stock worth $322,103,805 and have sold 46,086 shares worth $2,529,660. 0.87% of the stock is currently owned by corporate insiders.

STX stock opened at $49.80 on Monday. 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 fifty-two week low of $30.89 and a fifty-two week high of $62.70. The company has a market cap of $14.30 billion, a P/E ratio of 9.04, a PEG ratio of 0.64 and a beta of 1.72.

Seagate Technology (NASDAQ:STX) last released its earnings results on Monday, July 30th. The data storage provider reported $1.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.17. Seagate Technology had a net margin of 10.57% and a return on equity of 120.71%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period in the prior year, the firm earned $0.65 earnings per share. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. analysts anticipate that Seagate Technology PLC will post 6.3 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 3rd. Investors of record on Wednesday, September 19th will be paid a dividend of $0.63 per share. 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 5.06%. Seagate Technology’s payout ratio is 45.74%.

About Seagate Technology

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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