Nuveen Asset Management LLC Has $18.45 Million Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Nuveen Asset Management LLC cut its holdings in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 50.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 213,739 shares of the data storage provider's stock after selling 218,237 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.10% of Seagate Technology worth $18,448,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STX. JFS Wealth Advisors LLC increased its stake in shares of Seagate Technology by 27.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock valued at $46,000 after buying an additional 113 shares in the last quarter. Human Investing LLC bought a new position in Seagate Technology in the fourth quarter valued at about $48,000. Mizuho Bank Ltd. boosted its holdings in 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 acquiring an additional 350 shares during the last quarter. Johnson Financial Group Inc. boosted its holdings in Seagate Technology by 22.7% in the fourth quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider's stock valued at $52,000 after acquiring an additional 112 shares during the last quarter. Finally, S.A. Mason LLC bought a new position in Seagate Technology in the fourth quarter valued at about $55,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Seagate Technology

In related news, EVP Ban Seng Teh sold 4,201 shares of Seagate Technology stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $115.00, for a total value of $483,115.00. Following the sale, the executive vice president now owns 22,999 shares of the company's stock, valued at approximately $2,644,885. This trade represents a 15.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total value of $1,691,200.00. Following the completion of the sale, the chief executive officer now directly owns 555,677 shares in the company, valued at approximately $46,988,047.12. This represents a 3.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,057 shares of company stock valued at $11,685,976 over the last 90 days. 0.81% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on STX. UBS Group raised their price target on Seagate Technology from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Barclays raised their price target on Seagate Technology from $80.00 to $90.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Rosenblatt Securities reiterated a "buy" rating and issued a $130.00 price target on shares of Seagate Technology in a report on Friday, May 23rd. Wedbush reiterated an "outperform" rating and issued a $140.00 price target on shares of Seagate Technology in a report on Wednesday, May 21st. Finally, Wells Fargo & Company raised their price target on Seagate Technology from $105.00 to $122.00 and gave the company an "equal weight" rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Seagate Technology has a consensus rating of "Moderate Buy" and an average target price of $118.89.

Seagate Technology Trading Up 0.0%

Shares of NASDAQ STX traded up $0.03 during mid-day trading on Thursday, reaching $117.37. 616,266 shares of the company's stock were exchanged, compared to its average volume of 3,879,842. The firm has a market capitalization of $24.91 billion, a price-to-earnings ratio of 21.48 and a beta of 1.32. The business has a fifty day simple moving average of $88.25 and a 200 day simple moving average of $92.97. Seagate Technology Holdings plc has a twelve month low of $63.19 and a twelve month high of $118.63.

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

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

Seagate Technology Announces Dividend

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 given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology's dividend payout ratio is currently 41.62%.

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.