Baird Financial Group Inc. Reduces Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Baird Financial Group Inc. decreased its position in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 51.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,776 shares of the data storage provider's stock after selling 21,248 shares during the quarter. Baird Financial Group Inc.'s holdings in Seagate Technology were worth $1,707,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JFS Wealth Advisors LLC lifted its holdings in shares of 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 shares of Seagate Technology during the fourth quarter worth about $48,000. Mizuho Bank Ltd. lifted its holdings in shares of Seagate Technology by 140.0% during the fourth quarter. Mizuho Bank Ltd. now owns 600 shares of the data storage provider's stock worth $52,000 after purchasing an additional 350 shares during the period. Johnson Financial Group Inc. lifted its holdings 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 during the period. Finally, S.A. Mason LLC acquired a new stake in shares of Seagate Technology during the fourth quarter worth about $55,000. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Trading Up 0.3%

NASDAQ STX traded up $0.36 on Friday, reaching $107.79. 3,233,263 shares of the company were exchanged, compared to its average volume of 2,915,595. The business's fifty day moving average price is $84.56 and its 200 day moving average price is $92.45. The stock has a market capitalization of $22.87 billion, a P/E ratio of 19.71 and a beta of 1.32. Seagate Technology Holdings plc has a fifty-two week low of $63.19 and a fifty-two week 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, topping analysts' consensus estimates 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 company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The firm's revenue for the quarter was up 30.5% compared to the same quarter last year. Equities research analysts forecast that Seagate Technology Holdings plc will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Wednesday, June 25th will be paid a $0.72 dividend. 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%.

Analyst Ratings Changes

STX has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on Seagate Technology from $120.00 to $105.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. Mizuho reduced their price target on Seagate Technology from $115.00 to $95.00 and set an "outperform" rating for the company in a research report on Thursday, April 10th. BNP Paribas upgraded Seagate Technology from a "strong sell" rating to a "hold" rating in a research report on Friday. UBS Group lifted their price target on Seagate Technology from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Finally, Summit Insights upgraded Seagate Technology from a "hold" rating to a "buy" rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average 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 sale, the chief executive officer now owns 555,677 shares of the company's stock, valued at $46,988,047.12. This trade represents a 3.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.81% of the company's stock.

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.