CWM Advisors LLC Boosts Holdings in Seagate Technology PLC (NASDAQ:STX)

CWM Advisors LLC grew its position in shares of Seagate Technology PLC (NASDAQ:STX) by 11.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,123 shares of the data storage provider’s stock after buying an additional 1,729 shares during the period. CWM Advisors LLC’s holdings in Seagate Technology were worth $807,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in STX. Sound Income Strategies LLC boosted its stake in Seagate Technology by 33.2% in the 2nd quarter. Sound Income Strategies LLC now owns 31,368 shares of the data storage provider’s stock worth $1,478,000 after purchasing an additional 7,819 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Seagate Technology by 2.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 146,739 shares of the data storage provider’s stock worth $6,914,000 after acquiring an additional 4,060 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Seagate Technology by 8.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 12,660 shares of the data storage provider’s stock worth $597,000 after acquiring an additional 1,000 shares in the last quarter. Xact Kapitalforvaltning AB boosted its position in shares of Seagate Technology by 5.4% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 64,664 shares of the data storage provider’s stock worth $3,047,000 after acquiring an additional 3,306 shares in the last quarter. Finally, Exane Derivatives boosted its position in shares of Seagate Technology by 8,298.1% during the 2nd quarter. Exane Derivatives now owns 97,754 shares of the data storage provider’s stock worth $4,605,000 after acquiring an additional 96,590 shares in the last quarter. 87.90% of the stock is currently owned by institutional investors.

In related news, Director Stephen J. Luczo sold 10,000 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $47.00, for a total transaction of $470,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen J. Luczo sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $47.37, for a total transaction of $236,850.00. Following the transaction, the director now owns 14,221 shares in the company, valued at $673,648.77. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,000 shares of company stock valued at $1,180,150. 1.00% of the stock is currently owned by insiders.

Several research firms recently issued reports on STX. Benchmark reiterated a “buy” rating and set a $55.00 price target (down previously from $57.00) on shares of Seagate Technology in a research report on Monday, August 5th. Argus upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Friday, May 3rd. BidaskClub lowered shares of Seagate Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. Wedbush initiated coverage on shares of Seagate Technology in a research report on Wednesday, June 26th. They issued a “neutral” rating and a $35.00 target price on the stock. They noted that the move was a valuation call. Finally, Craig Hallum upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Wednesday, May 1st. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $44.95.

Shares of NASDAQ STX opened at $44.58 on Friday. Seagate Technology PLC has a twelve month low of $35.38 and a twelve month high of $57.20. The firm has a fifty day simple moving average of $46.69 and a 200 day simple moving average of $46.49. The company has a market capitalization of $12.33 billion, a PE ratio of 9.25, a P/E/G ratio of 8.38 and a beta of 1.70. The company has a quick ratio of 1.52, a current ratio of 1.95 and a debt-to-equity ratio of 1.97.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Friday, August 2nd. The data storage provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. Seagate Technology had a net margin of 19.36% and a return on equity of 72.07%. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the previous year, the firm posted $1.62 earnings per share. The business’s revenue was down 16.4% compared to the same quarter last year. As a group, equities analysts expect that Seagate Technology PLC will post 4.52 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 25th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 5.65%. The ex-dividend date of this dividend is Tuesday, September 24th. Seagate Technology’s payout ratio is presently 52.28%.

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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