nVerses Capital LLC Boosts Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

nVerses Capital LLC raised its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 18.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 9,100 shares of the data storage provider’s stock after buying an additional 1,400 shares during the quarter. nVerses Capital LLC’s holdings in Seagate Technology were worth $997,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Seagate Technology by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock valued at $2,303,274,000 after acquiring an additional 746,395 shares in the last quarter. Delta Global Management LP acquired a new position in shares of Seagate Technology in the 1st quarter valued at about $33,478,000. Point72 Hong Kong Ltd acquired a new stake in shares of Seagate Technology in the 2nd quarter worth approximately $35,349,000. Clearbridge Investments LLC raised its holdings in shares of Seagate Technology by 14.5% in the 1st quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock worth $247,218,000 after purchasing an additional 337,464 shares in the last quarter. Finally, Duquesne Family Office LLC raised its holdings in shares of Seagate Technology by 22.0% in the 2nd 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 in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Trading Up 0.8 %

STX stock traded up $0.89 during trading on Thursday, reaching $112.62. The stock had a trading volume of 487,264 shares, compared to its average volume of 2,480,245. Seagate Technology Holdings plc has a 52 week low of $64.12 and a 52 week high of $115.32. The stock’s 50 day moving average is $103.64 and its two-hundred day moving average is $98.86. The firm has a market cap of $23.71 billion, a PE ratio of 72.55 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.29. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the business posted ($0.29) earnings per share. The firm’s revenue was up 17.8% on a year-over-year basis. On average, research analysts anticipate that Seagate Technology Holdings plc will post 7.09 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 23rd were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Monday, September 23rd. Seagate Technology’s dividend payout ratio (DPR) is 181.82%.

Analyst Ratings Changes

STX has been the subject of several recent analyst reports. Rosenblatt Securities upped their price objective on shares of Seagate Technology from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Evercore ISI raised their target price on shares of Seagate Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Citigroup raised their target price on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Morgan Stanley raised their target price on shares of Seagate Technology from $115.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, The Goldman Sachs Group raised their target price on shares of Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a 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 given a buy rating to the company. According to MarketBeat, Seagate Technology has a consensus rating of “Hold” and a consensus price target of $115.94.

Insider Transactions at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total value of $1,869,200.00. Following the completion of the transaction, the chief executive officer now owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total value of $1,869,200.00. Following the completion of the transaction, the chief executive officer now owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William D. Mosley sold 141,785 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $110.18, for a total value of $15,621,871.30. Following the completion of the transaction, the chief executive officer now directly owns 668,616 shares of the company’s stock, valued at $73,668,110.88. The trade was 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. 0.81% of the stock is currently owned by company insiders.

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.