Meridiem Capital Partners LP Takes $5.18 Million Position in Seagate Technology Holdings plc (NASDAQ:STX)

Meridiem Capital Partners LP bought a new stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 60,000 shares of the data storage provider's stock, valued at approximately $5,179,000.

Other institutional investors have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC lifted its stake in Seagate Technology by 27.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock worth $46,000 after purchasing an additional 113 shares during the period. Human Investing LLC acquired a new stake in Seagate Technology during the 4th quarter valued at $48,000. Mizuho Bank Ltd. raised its holdings in shares of Seagate Technology by 140.0% in the fourth quarter. Mizuho Bank Ltd. now owns 600 shares of the data storage provider's stock valued at $52,000 after buying an additional 350 shares during the last quarter. Johnson Financial Group Inc. lifted its position in shares of Seagate Technology by 22.7% during the fourth quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider's stock worth $52,000 after purchasing an additional 112 shares in the last quarter. Finally, S.A. Mason LLC bought a new position in Seagate Technology in the 4th quarter worth approximately $55,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STX has been the topic of a number of recent research reports. Northland Securities reaffirmed an "outperform" rating and issued a $160.00 price objective (up from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. Benchmark upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 price objective on the stock in a report on Wednesday, January 22nd. Summit Insights upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating in a research note on Wednesday, January 22nd. Wedbush restated an "outperform" rating and set a $140.00 price objective (down from $150.00) on shares of Seagate Technology in a research note on Wednesday, April 30th. Finally, StockNews.com downgraded Seagate Technology from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $114.11.

Insider Activity at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total value of $1,691,200.00. Following the completion of the transaction, the chief executive officer now directly owns 555,677 shares in the company, valued at approximately $46,988,047.12. This trade represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.81% of the stock is owned by insiders.

Seagate Technology Stock Performance

Shares of NASDAQ STX traded up $0.36 during trading hours on Friday, hitting $107.79. 3,233,263 shares of the stock were exchanged, compared to its average volume of 2,915,595. The company's fifty day simple moving average is $84.56 and its two-hundred day simple moving average is $92.45. The company has a market cap of $22.87 billion, a PE ratio of 19.71 and a beta of 1.32. Seagate Technology Holdings plc has a 1-year low of $63.19 and a 1-year high of $115.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.15. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period last year, the firm posted $0.33 earnings per share. Seagate Technology's revenue was up 30.5% compared to the same quarter last year. As a group, sell-side analysts expect that Seagate Technology Holdings plc will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology's dividend payout ratio (DPR) is presently 41.62%.

Seagate Technology 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.