Davidson Kempner Capital Management LP Has $10.33 Million Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Davidson Kempner Capital Management LP grew its holdings in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 44.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 100,000 shares of the data storage provider's stock after buying an additional 30,940 shares during the quarter. Davidson Kempner Capital Management LP's holdings in Seagate Technology were worth $10,327,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in STX. Kayne Anderson Rudnick Investment Management LLC increased its position in Seagate Technology by 2,407.1% in the 2nd 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 in the last quarter. Family Firm Inc. acquired a new stake in shares of Seagate Technology in the second quarter valued at approximately $41,000. ICA Group Wealth Management LLC bought a new position in Seagate Technology in the 4th quarter worth approximately $47,000. Richardson Financial Services Inc. acquired a new position in Seagate Technology during the 4th quarter worth $47,000. Finally, Larson Financial Group LLC lifted its holdings in Seagate Technology by 15,766.7% during the 2nd quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider's stock worth $49,000 after buying an additional 473 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Ban Seng Teh sold 10,117 shares of the firm's stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $110.00, for a total value of $1,112,870.00. Following the completion of the transaction, the executive vice president now owns 5,387 shares of the company's stock, valued at $592,570. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other 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 value of $1,112,870.00. Following the completion of the sale, the executive vice president now owns 5,387 shares of the company's stock, valued at approximately $592,570. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Yolanda Lee Conyers sold 750 shares of the business's stock in a transaction 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 transaction, the director now owns 3,034 shares in the company, valued at $291,567.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,627 shares of company stock worth $5,489,495. 0.89% of the stock is owned by corporate insiders.

Seagate Technology Trading Up 1.8 %

Shares of NASDAQ STX traded up $1.83 during mid-day trading on Monday, reaching $105.88. 1,471,321 shares of the company's stock were exchanged, compared to its average volume of 2,559,814. The business has a fifty day simple moving average of $101.09 and a 200 day simple moving average of $96.63. Seagate Technology Holdings plc has a twelve month low of $63.32 and a twelve month high of $113.57. The firm has a market capitalization of $22.23 billion, a price-to-earnings ratio of -82.08 and a beta of 1.03.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.29. The company had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.87 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The business's quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.29) earnings per share. Equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 23rd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.80 annualized dividend and a dividend yield of 2.64%. Seagate Technology's dividend payout ratio is currently -217.05%.

Wall Street Analyst Weigh In

STX has been the subject of a number of recent research reports. Susquehanna boosted their target price on Seagate Technology from $55.00 to $65.00 and gave the stock a "negative" rating in a research report on Wednesday, July 24th. Citigroup boosted their price objective on Seagate Technology from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. Benchmark reaffirmed a "hold" rating on shares of Seagate Technology in a research note on Wednesday, July 24th. Loop Capital boosted their price target on shares of Seagate Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a research note on Wednesday, July 24th. Finally, Bank of America restated a "buy" rating and issued a $110.00 price objective on shares of Seagate Technology in a report on Wednesday, June 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Seagate Technology has a consensus rating of "Hold" and a consensus target price of $115.94.

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.