Quarry LP Purchases 284 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Quarry LP increased its position in Seagate Technology Holdings plc (NASDAQ:STX) by 108.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 546 shares of the data storage provider’s stock after acquiring an additional 284 shares during the period. Quarry LP’s holdings in Seagate Technology were worth $60,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of STX. Ashton Thomas Securities LLC bought a new stake in shares of Seagate Technology during the 3rd quarter valued at about $26,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Seagate Technology by 2,407.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after buying an additional 337 shares during the last quarter. Family Firm Inc. bought a new stake in Seagate Technology during the second quarter valued at approximately $41,000. Advisors Asset Management Inc. raised its position in Seagate Technology by 177.9% in the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock worth $44,000 after acquiring an additional 258 shares during the period. Finally, JFS Wealth Advisors LLC raised its position in Seagate Technology by 232.5% in the third quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after acquiring an additional 293 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.53, for a total value of $1,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 642,497 shares in the company, valued at $63,947,726.41. This trade represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John Christopher Morris sold 1,131 shares of Seagate Technology stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total transaction of $126,558.90. Following the transaction, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at $804,672.90. The trade was a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 221,820 shares of company stock worth $23,953,746 over the last 90 days. 0.81% of the stock is owned by insiders.

Seagate Technology Stock Up 0.5 %

Shares of Seagate Technology stock opened at $98.97 on Tuesday. Seagate Technology Holdings plc has a twelve month low of $79.39 and a twelve month high of $115.32. The business has a 50-day moving average price of $103.43 and a 200-day moving average price of $102.17. The firm has a market cap of $20.94 billion, a price-to-earnings ratio of 25.84 and a beta of 1.03.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The company’s revenue was up 49.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.34) EPS. On average, equities analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be paid a dividend of $0.72 per share. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a yield of 2.91%. Seagate Technology’s dividend payout ratio is presently 73.11%.

Wall Street Analyst Weigh In

Several research firms have recently commented on STX. Benchmark restated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Citigroup boosted their price target on Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Evercore ISI raised their price objective on Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and set a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd. Finally, Rosenblatt Securities raised their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $118.83.

About Seagate Technology

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.