Quarry LP Invests $27,000 in Seagate Technology Holdings plc (NASDAQ:STX)

Quarry LP purchased a new stake in Seagate Technology Holdings plc (NASDAQ:STX) during the second quarter, HoldingsChannel reports. The firm purchased 262 shares of the data storage provider’s stock, valued at approximately $27,000.

Several other hedge funds have also added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC boosted its position 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 valued at $36,000 after acquiring an additional 337 shares during the period. Family Firm Inc. bought a new position in shares of Seagate Technology during the second quarter worth approximately $41,000. Richardson Financial Services Inc. acquired a new stake in shares of Seagate Technology in the fourth quarter valued at approximately $47,000. Larson Financial Group LLC raised its position in shares of Seagate Technology by 15,766.7% in the second quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock valued at $49,000 after buying an additional 473 shares in the last quarter. Finally, Viking Fund Management LLC boosted its stake in shares of Seagate Technology by 722.2% in the first quarter. Viking Fund Management LLC now owns 740 shares of the data storage provider’s stock valued at $69,000 after buying an additional 650 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Stock Performance

STX stock opened at $106.13 on Tuesday. The company has a market capitalization of $22.34 billion, a P/E ratio of -82.27 and a beta of 1.04. The company has a fifty day moving average price of $101.69 and a 200-day moving average price of $98.02. Seagate Technology Holdings plc has a 52-week low of $64.12 and a 52-week high of $113.57.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.76 by $0.29. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.29) EPS. As a group, sell-side analysts forecast that Seagate Technology Holdings plc will post 6.72 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 23rd were issued a dividend of $0.70 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.80 annualized dividend and a yield of 2.64%. Seagate Technology’s payout ratio is -217.05%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. StockNews.com raised Seagate Technology from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Morgan Stanley increased their price objective on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Evercore ISI boosted their target price on shares of Seagate Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. TD Cowen increased their price target on shares of Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Robert W. Baird boosted their price objective on shares of Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $115.94.

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $107.68, for a total transaction of $2,153,600.00. Following the completion of the sale, the chief executive officer now directly owns 648,616 shares in the company, valued at $69,842,970.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Seagate Technology news, EVP Ban Seng Teh sold 10,117 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the transaction, the executive vice president now directly owns 5,387 shares in the company, valued at approximately $592,570. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $107.68, for a total transaction of $2,153,600.00. Following the completion of the sale, the chief executive officer now owns 648,616 shares of the company’s stock, valued at $69,842,970.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 223,284 shares of company stock worth $23,800,887. 0.89% of the stock is currently owned by insiders.

Seagate Technology Company 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.