Notable Ownership Action: Institutional Investors Lead Shift in Seagate Technology PLC (NASDAQ:STX) Sentiment

November 25, 2016 - By Linda Rogers   ·   0 Comments

Notable Ownership Action: Institutional Investors Lead Shift in Seagate Technology PLC (NASDAQ:STX) Sentiment

Sentiment for Seagate Technology PLC (NASDAQ:STX)

Seagate Technology PLC (NASDAQ:STX) institutional sentiment increased to 1.13 in Q2 2016. Its up 0.15, from 0.98 in 2016Q1. The ratio is more positive, as 208 institutional investors opened new and increased holdings, while 213 sold and decreased their stakes in Seagate Technology PLC. The institutional investors in our partner’s database now possess: 247.41 million shares, down from 249.21 million shares in 2016Q1. Also, the number of institutional investors holding Seagate Technology PLC in their top 10 holdings was flat from 2 to 2 for the same number . Sold All: 96 Reduced: 117 Increased: 155 New Position: 53.

Seagate Technology public limited company is a well-known provider of electronic data storage technology and solutions. The company has a market cap of $11.47 billion. The Company’s principal products are hard disk drives . It has a 30.8 P/E ratio. In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.

The stock increased 0.64% or $0.25 during the last trading session, hitting $39.07. About 1.79M shares traded hands. Seagate Technology PLC (NASDAQ:STX) has risen 53.32% since April 22, 2016 and is uptrending. It has outperformed by 47.91% the S&P500.

Analysts await Seagate Technology PLC (NASDAQ:STX) to report earnings on February, 3. They expect $1.05 EPS, up 28.05% or $0.23 from last year’s $0.82 per share. STX’s profit will be $308.25M for 9.30 P/E if the $1.05 EPS becomes a reality. After $0.99 actual EPS reported by Seagate Technology PLC for the previous quarter, Wall Street now forecasts 6.06% EPS growth.

According to Zacks Investment Research, “Seagate Technology PLC offers a portfolio of hard disc drives, solid state drives and solid state hybrid drives. It offers a range of disk drive products for the enterprise, client compute and client non-compute market applications. The Company also provides data storage services for businesses, including online backup, data protection and recovery solutions. Seagate Technology PLC is headquartered in Dublin, Ireland.”

Pzena Investment Management Llc holds 2.36% of its portfolio in Seagate Technology PLC for 15.50 million shares. Zwj Investment Counsel Inc owns 655,035 shares or 1.6% of their US portfolio. Moreover, Disciplined Growth Investors Inc Mn has 1.53% invested in the company for 2.50 million shares. The Missouri-based Sterneck Capital Management Llc has invested 1.44% in the stock. Rbs Partners L.P., a Florida-based fund reported 484,622 shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 0 buys, and 9 insider sales for $1.64 million net activity.

Seagate Technology PLC (NASDAQ:STX) Ratings Coverage

Ratings analysis reveals 29% of Seagate Technology Plc’s analysts are positive. Out of 24 Wall Street analysts rating Seagate Technology Plc, 7 give it “Buy”, 3 “Sell” rating, while 14 recommend “Hold”. The lowest target is $15 while the high is $153. The stock’s average target of $42.18 is 7.96% above today’s ($39.07) share price. STX was included in 73 notes of analysts from August 4, 2015. The rating was maintained by BMO Capital Markets on Thursday, August 20 with “Market Perform”. The rating was maintained by UBS on Wednesday, November 11 with “Sell”. The firm has “Market Perform” rating by Cowen & Co given on Monday, April 11. On Thursday, October 20 the stock rating was maintained by Needham with “Strong Buy”. The rating was maintained by Cowen & Co with “Market Perform” on Tuesday, October 11. As per Wednesday, January 27, the company rating was initiated by Citigroup. The stock of Seagate Technology PLC (NASDAQ:STX) has “Buy” rating given on Wednesday, September 7 by Craig Hallum. The firm has “Buy” rating by Brean Capital given on Monday, August 3. The rating was maintained by RBC Capital Markets on Friday, January 15 with “Outperform”. As per Monday, May 2, the company rating was maintained by Maxim Group.

STX Company Profile

Seagate Technology public limited company, incorporated on January 22, 2010, is a well-known provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, the Company produces a range of electronic data storage products, including solid state hybrid drives (SSHDs), solid state drives (SSDs), peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers. The Company’s storage technology portfolio also includes storage subsystems and high performance computing (HPC) solutions. The Company’s products are designed for applications in enterprise servers and storage systems; client compute applications, where its products are designed primarily for desktop and mobile computing, and client non-compute applications, where its products are designed for a range of end user devices, such as digital video recorders (DVRs), personal data backup systems, portable external storage systems, digital media systems and surveillance systems.

More notable recent Seagate Technology PLC (NASDAQ:STX) news were published by: Fool.com which released: “Is Seagate Technology PLC’s Dividend Safe?” on October 31, 2016, also Fool.com with their article: “Why Seagate Technology PLC Fell 11% in October” published on November 08, 2016, Profitconfidential.com published: “Seagate Technology PLC: This Is Where STX Stock will Find Support” on November 02, 2016. More interesting news about Seagate Technology PLC (NASDAQ:STX) were released by: Businesswire.com and their article: “Seagate Launches New ClusterStor System With Flash Acceleration for High …” published on November 14, 2016 as well as Nasdaq.com‘s news article titled: “Agree To Buy Seagate Technology At $20, Earn 10.8% Using Options” with publication date: November 23, 2016.

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By Linda Rogers

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