Sound Income Strategies LLC decreased its position in Seagate Technology PLC (NASDAQ:STX) by 7.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,658 shares of the data storage provider’s stock after selling 1,864 shares during the quarter. Sound Income Strategies LLC’s holdings in Seagate Technology were worth $874,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Seagate Technology in the third quarter worth $259,905,000. ValueAct Holdings L.P. boosted its stake in Seagate Technology by 17.8% during the third quarter. ValueAct Holdings L.P. now owns 26,396,565 shares of the data storage provider’s stock worth $1,249,877,000 after buying an additional 3,991,865 shares in the last quarter. AQR Capital Management LLC boosted its stake in Seagate Technology by 139.5% during the third quarter. AQR Capital Management LLC now owns 4,181,391 shares of the data storage provider’s stock worth $197,989,000 after buying an additional 2,435,580 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Seagate Technology by 289.3% during the third quarter. Janus Henderson Group PLC now owns 1,706,099 shares of the data storage provider’s stock worth $80,783,000 after buying an additional 1,267,870 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Seagate Technology by 81.0% during the second quarter. Morgan Stanley now owns 2,691,882 shares of the data storage provider’s stock worth $152,011,000 after buying an additional 1,204,618 shares in the last quarter. 89.93% of the stock is currently owned by institutional investors.

STX has been the topic of a number of recent research reports. BidaskClub downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a research note on Friday, September 28th. ValuEngine downgraded shares of Seagate Technology from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Zacks Investment Research upgraded shares of Seagate Technology from a “sell” rating to a “hold” rating in a research note on Monday, October 8th. UBS Group downgraded shares of Seagate Technology to a “neutral” rating in a research note on Tuesday, October 23rd. Finally, Susquehanna Bancshares restated a “negative” rating and issued a $32.00 target price (down previously from $53.00) on shares of Seagate Technology in a research note on Tuesday, October 23rd. Six analysts have rated the stock with a sell rating, eighteen 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 an average target price of $50.36.

In other Seagate Technology news, EVP James J. Murphy sold 13,660 shares of the business’s stock in a transaction dated Friday, November 30th. The stock was sold at an average price of $42.53, for a total transaction of $580,959.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Holdings L.P. Valueact acquired 5,415 shares of the company’s stock in a transaction on Friday, November 23rd. The shares were purchased at an average cost of $41.99 per share, with a total value of $227,375.85. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,519,295 shares of company stock valued at $62,991,691 over the last three months. Company insiders own 1.00% of the company’s stock.

Shares of Seagate Technology stock traded down $0.04 during trading on Friday, reaching $40.56. The company’s stock had a trading volume of 108,039 shares, compared to its average volume of 3,760,782. The company has a quick ratio of 1.07, a current ratio of 1.42 and a debt-to-equity ratio of 2.34. Seagate Technology PLC has a one year low of $35.38 and a one year high of $62.70. The stock has a market capitalization of $11.49 billion, a price-to-earnings ratio of 7.37, a P/E/G ratio of 0.61 and a beta of 1.58.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Friday, November 2nd. The data storage provider reported $1.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.15. Seagate Technology had a return on equity of 123.05% and a net margin of 12.57%. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the business posted $0.96 earnings per share. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Seagate Technology PLC will post 5.32 EPS for the current year.

The firm also recently declared a dividend, which was paid on Monday, December 31st. Investors of record on Wednesday, December 19th were issued a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, December 18th. Seagate Technology’s dividend payout ratio is 45.74%.

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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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