Penserra Capital Management LLC Increases Holdings in Seagate Technology PLC (NASDAQ:STX)

Penserra Capital Management LLC boosted its position in Seagate Technology PLC (NASDAQ:STX) by 10.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,304 shares of the data storage provider’s stock after buying an additional 210 shares during the quarter. Penserra Capital Management LLC’s holdings in Seagate Technology were worth $123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. ValueAct Holdings L.P. increased its holdings in shares of Seagate Technology by 6.9% in the second quarter. ValueAct Holdings L.P. now owns 31,554,360 shares of the data storage provider’s stock worth $1,486,841,000 after buying an additional 2,034,200 shares during the period. ANTIPODES PARTNERS Ltd bought a new position in Seagate Technology during the 3rd quarter worth approximately $42,291,000. Morgan Stanley grew its position in Seagate Technology by 40.4% during the 2nd quarter. Morgan Stanley now owns 2,491,729 shares of the data storage provider’s stock worth $117,410,000 after acquiring an additional 717,007 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its position in Seagate Technology by 240.5% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 568,264 shares of the data storage provider’s stock worth $30,567,000 after acquiring an additional 401,361 shares during the last quarter. Finally, Virginia Retirement Systems ET AL increased its stake in Seagate Technology by 5,423.9% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 370,100 shares of the data storage provider’s stock worth $17,439,000 after purchasing an additional 363,400 shares during the period. 84.36% of the stock is owned by institutional investors and hedge funds.

NASDAQ:STX opened at $59.33 on Tuesday. The stock has a market cap of $15.75 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 10.18 and a beta of 1.62. The firm’s fifty day simple moving average is $57.80 and its 200 day simple moving average is $50.44. Seagate Technology PLC has a twelve month low of $35.38 and a twelve month high of $60.56. The company has a quick ratio of 1.17, a current ratio of 1.58 and a debt-to-equity ratio of 2.34.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Friday, November 1st. The data storage provider reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.03. Seagate Technology had a net margin of 17.66% and a return on equity of 61.26%. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period in the prior year, the business earned $1.70 EPS. The company’s revenue for the quarter was down 13.8% on a year-over-year basis. On average, analysts expect that Seagate Technology PLC will post 4.84 EPS for the current fiscal year.

Several analysts have weighed in on STX shares. Benchmark boosted their price objective on Seagate Technology from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Wells Fargo & Co lifted their target price on shares of Seagate Technology from $45.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, September 13th. BidaskClub upgraded shares of Seagate Technology from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. ValuEngine raised shares of Seagate Technology from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Craig Hallum cut shares of Seagate Technology from a “buy” rating to a “hold” rating and set a $56.00 price target for the company. in a research report on Friday, September 20th. Six investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $49.62.

In related news, CEO William D. Mosley sold 90,000 shares of Seagate Technology stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $54.31, for a total transaction of $4,887,900.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Nicholls Stuart 6,724,138 shares of the stock in a transaction that occurred on Friday, November 15th. Insiders have sold a total of 545,227 shares of company stock worth $31,229,643 in the last ninety days. Insiders own 1.12% of the company’s stock.

Seagate Technology Company 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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