Qsemble Capital Management LP Takes $2.13 Million Position in Seagate Technology Holdings plc (NASDAQ:STX)

Qsemble Capital Management LP bought a new stake in Seagate Technology Holdings plc (NASDAQ:STX) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 19,460 shares of the data storage provider’s stock, valued at approximately $2,131,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of STX. Victory Capital Management Inc. raised its stake in shares of Seagate Technology by 133.8% during the third quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock valued at $18,834,000 after acquiring an additional 98,418 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Seagate Technology by 2.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider’s stock valued at $24,011,000 after purchasing an additional 6,044 shares during the last quarter. Versor Investments LP purchased a new stake in Seagate Technology in the 3rd quarter worth approximately $2,146,000. Lighthouse Investment Partners LLC bought a new stake in shares of Seagate Technology in the 2nd quarter worth approximately $499,000. Finally, Lazard Asset Management LLC increased its stake in shares of Seagate Technology by 6.9% during the first quarter. Lazard Asset Management LLC now owns 13,609 shares of the data storage provider’s stock valued at $1,266,000 after buying an additional 881 shares during the period. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

STX stock opened at $101.36 on Tuesday. Seagate Technology Holdings plc has a 1-year low of $76.30 and a 1-year high of $115.32. The business has a fifty day moving average price of $104.69 and a 200-day moving average price of $101.79. The stock has a market capitalization of $21.44 billion, a P/E ratio of 26.46 and a beta of 1.05.

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

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s payout ratio is 73.11%.

Wall Street Analysts Forecast Growth

STX has been the topic of several recent analyst reports. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Rosenblatt Securities lifted their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and set a $150.00 price target on shares of Seagate Technology in a research report on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $125.00 price objective on shares of Seagate Technology in a report on Wednesday, October 23rd. Finally, Northland Securities upped their target price on Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

Insider Activity

In other news, SVP Kian Fatt Chong sold 9,182 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $105.50, for a total transaction of $968,701.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the transaction, the director now directly owns 3,034 shares in the company, valued at approximately $291,567.40. The trade was a 19.82 % 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 ninety days. 0.81% of the stock is currently owned by company 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.