Qsemble Capital Management LP Takes Position in Seagate Technology Holdings plc (NASDAQ:STX)

Qsemble Capital Management LP bought a new position in Seagate Technology Holdings plc (NASDAQ:STX) in the 3rd quarter, Holdings Channel reports. The fund bought 19,460 shares of the data storage provider’s stock, valued at approximately $2,131,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STX. Duquesne Family Office LLC boosted its position in shares of Seagate Technology by 22.0% in the second quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock worth $181,268,000 after purchasing an additional 316,295 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Seagate Technology by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,327,920 shares of the data storage provider’s stock worth $145,447,000 after buying an additional 73,267 shares during the period. Dimensional Fund Advisors LP increased its stake in Seagate Technology by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,019,657 shares of the data storage provider’s stock worth $105,306,000 after buying an additional 9,062 shares in the last quarter. Primecap Management Co. CA increased its stake in Seagate Technology by 3.3% in the 3rd quarter. Primecap Management Co. CA now owns 601,420 shares of the data storage provider’s stock worth $65,874,000 after buying an additional 19,125 shares in the last quarter. Finally, Swiss National Bank raised its holdings in Seagate Technology by 0.5% during the third quarter. Swiss National Bank now owns 592,000 shares of the data storage provider’s stock valued at $64,842,000 after acquiring an additional 2,700 shares during the period. Institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on STX. Citigroup upped their price objective on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Rosenblatt Securities lifted their price objective on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Evercore ISI upped their target price on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Northland Securities raised their target price on shares of Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $118.83.

Seagate Technology Stock Up 1.7 %

NASDAQ STX opened at $101.36 on Tuesday. Seagate Technology Holdings plc has a 52 week low of $76.30 and a 52 week high of $115.32. The firm has a market capitalization of $21.44 billion, a price-to-earnings ratio of 26.46 and a beta of 1.05. The company has a fifty day moving average of $104.69 and a two-hundred day moving average of $101.79.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.30 by $0.28. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The firm’s revenue was up 49.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.34) EPS. Equities research analysts anticipate that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be issued a dividend of $0.72 per share. The ex-dividend date is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a yield of 2.84%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s payout ratio is presently 73.11%.

Insider Buying and Selling at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the sale, the director now directly owns 3,034 shares of the company’s stock, valued at $291,567.40. This represents a 19.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the completion of the sale, the chief executive officer now owns 668,616 shares of the company’s stock, valued at approximately $73,668,110.88. This represents a 17.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 201,820 shares of company stock valued at $21,892,856 in the last quarter. 0.81% of the stock is owned by insiders.

Seagate Technology Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.