Jefferies Financial Group Inc. Has $412,000 Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Jefferies Financial Group Inc. reduced its holdings in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 33.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,774 shares of the data storage provider's stock after selling 2,371 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Seagate Technology were worth $412,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. B. Riley Wealth Advisors Inc. boosted its stake in Seagate Technology by 0.9% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 15,247 shares of the data storage provider's stock worth $1,327,000 after purchasing an additional 134 shares during the period. Polar Asset Management Partners Inc. raised its stake in shares of Seagate Technology by 31.0% in the 4th quarter. Polar Asset Management Partners Inc. now owns 183,600 shares of the data storage provider's stock valued at $15,847,000 after purchasing an additional 43,400 shares during the period. Ameriflex Group Inc. bought a new stake in shares of Seagate Technology in the fourth quarter valued at about $26,000. Ascent Group LLC boosted its position in shares of Seagate Technology by 4.2% during the fourth quarter. Ascent Group LLC now owns 11,947 shares of the data storage provider's stock worth $1,031,000 after buying an additional 477 shares during the period. Finally, Putney Financial Group LLC bought a new position in shares of Seagate Technology during the fourth quarter worth about $86,000. Institutional investors and hedge funds own 92.87% of the company's stock.

Analyst Ratings Changes

STX has been the subject of a number of recent research reports. UBS Group upped their price target on Seagate Technology from $80.00 to $85.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. BNP Paribas upgraded shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a report on Friday, May 16th. Rosenblatt Securities reiterated a "buy" rating and issued a $130.00 price target on shares of Seagate Technology in a research note on Friday, May 23rd. Mizuho cut their price target on shares of Seagate Technology from $115.00 to $95.00 and set an "outperform" rating on the stock in a research report on Thursday, April 10th. Finally, Citigroup raised their price objective on Seagate Technology from $105.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $118.89.

Insiders Place Their Bets

In related news, CFO Gianluca Romano sold 26,816 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $117.58, for a total value of $3,153,025.28. Following the sale, the chief financial officer now directly owns 38,082 shares of the company's stock, valued at $4,477,681.56. This trade represents a 41.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kian Fatt Chong sold 6,410 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $111.26, for a total value of $713,176.60. The disclosure for this sale can be found here. Insiders have sold a total of 162,891 shares of company stock worth $17,773,863 in the last 90 days. Company insiders own 0.81% of the company's stock.

Seagate Technology Trading Up 2.8%

Shares of NASDAQ:STX traded up $3.39 on Wednesday, hitting $126.62. The company had a trading volume of 2,906,002 shares, compared to its average volume of 3,000,350. The stock has a market cap of $26.87 billion, a price-to-earnings ratio of 23.15 and a beta of 1.32. The stock has a 50 day moving average price of $90.78 and a 200 day moving average price of $93.51. Seagate Technology Holdings plc has a 1-year low of $63.19 and a 1-year high of $127.47.

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

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $2.88 annualized dividend and a dividend yield of 2.27%. Seagate Technology's dividend payout ratio (DPR) is presently 41.62%.

Seagate Technology declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 22nd that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the data storage provider to buy up to 21.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

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.