First Allied Advisory Services Inc. Trims Holdings in Seagate Technology PLC (STX)

First Allied Advisory Services Inc. decreased its holdings in Seagate Technology PLC (NASDAQ:STX) by 17.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,727 shares of the data storage provider’s stock after selling 6,486 shares during the period. First Allied Advisory Services Inc.’s holdings in Seagate Technology were worth $1,152,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. TIAA CREF Investment Management LLC boosted its position in Seagate Technology by 4.6% during the third quarter. TIAA CREF Investment Management LLC now owns 6,800 shares of the data storage provider’s stock worth $322,000 after purchasing an additional 298 shares during the period. Ontario Teachers Pension Plan Board boosted its position in shares of Seagate Technology by 0.6% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 52,100 shares of the data storage provider’s stock valued at $2,011,000 after acquiring an additional 300 shares during the period. Certified Advisory Corp boosted its position in shares of Seagate Technology by 17.5% in the fourth quarter. Certified Advisory Corp now owns 2,028 shares of the data storage provider’s stock valued at $78,000 after acquiring an additional 302 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Seagate Technology by 1.1% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 36,971 shares of the data storage provider’s stock valued at $1,427,000 after acquiring an additional 400 shares during the period. Finally, Cigna Investments Inc. New boosted its position in shares of Seagate Technology by 7.9% in the fourth quarter. Cigna Investments Inc. New now owns 5,475 shares of the data storage provider’s stock valued at $211,000 after acquiring an additional 400 shares during the period. Institutional investors own 96.05% of the company’s stock.

A number of brokerages recently commented on STX. Zacks Investment Research upgraded Seagate Technology from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. BidaskClub lowered Seagate Technology from a “buy” rating to a “hold” rating in a research note on Friday, March 15th. Royal Bank of Canada reiterated a “sector perform” rating and set a $49.00 price objective on shares of Seagate Technology in a research note on Thursday, March 28th. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research note on Tuesday, February 5th. Finally, ValuEngine upgraded Seagate Technology from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.33.

In related news, Director Holdings L.P. Valueact bought 725,000 shares of Seagate Technology stock in a transaction dated Friday, February 8th. The shares were bought at an average cost of $44.60 per share, with a total value of $32,335,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stephen J. Luczo sold 50,000 shares of the stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $46.09, for a total value of $2,304,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 3,700,000 shares of company stock worth $166,497,500 and sold 120,832 shares worth $5,541,064. Corporate insiders own 1.00% of the company’s stock.

Shares of STX stock traded up $0.21 during trading on Friday, reaching $50.50. 1,736,018 shares of the company’s stock were exchanged, compared to its average volume of 2,663,476. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 2.24. The firm has a market capitalization of $14.10 billion, a PE ratio of 9.17, a PEG ratio of 5.42 and a beta of 1.66. Seagate Technology PLC has a twelve month low of $35.38 and a twelve month high of $62.13.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Monday, February 4th. The data storage provider reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.14. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.71 billion. Seagate Technology had a return on equity of 105.74% and a net margin of 14.77%. The firm’s revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.48 EPS. As a group, sell-side analysts predict that Seagate Technology PLC will post 4.66 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 20th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date was Tuesday, March 19th. Seagate Technology’s dividend payout ratio is 45.74%.

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Seagate Technology Profile

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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