Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. trimmed its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 33.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,774 shares of the data storage provider's stock after selling 2,371 shares during the period. Jefferies Financial Group Inc.'s holdings in Seagate Technology were worth $412,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Research Global Investors boosted its stake in Seagate Technology by 56.5% during the 4th quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider's stock worth $1,348,262,000 after purchasing an additional 5,640,443 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Seagate Technology by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider's stock worth $2,414,446,000 after buying an additional 1,814,821 shares in the last quarter. Marshall Wace LLP acquired a new position in Seagate Technology during the fourth quarter worth about $77,341,000. Junto Capital Management LP acquired a new position in Seagate Technology during the fourth quarter worth about $60,303,000. Finally, National Pension Service purchased a new stake in Seagate Technology during the 4th quarter valued at about $43,436,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO William D. Mosley sold 20,000 shares of the business's 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 transaction, the chief executive officer now owns 555,677 shares in the company, valued at $46,988,047.12. The trade was a 3.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.81% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on STX. Mizuho decreased their target price on shares of Seagate Technology from $115.00 to $95.00 and set an "outperform" rating on the stock in a research note on Thursday, April 10th. Barclays increased 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. Morgan Stanley lowered their price objective on Seagate Technology from $133.00 to $129.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 21st. Wells Fargo & Company cut their target price on Seagate Technology from $120.00 to $105.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $130.00 price target on shares of Seagate Technology in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Seagate Technology presently has an average rating of "Moderate Buy" and a consensus target price of $116.21.

Seagate Technology Stock Performance

NASDAQ STX traded down $2.37 during trading hours on Wednesday, hitting $104.60. The company had a trading volume of 2,325,173 shares, compared to its average volume of 2,927,857. The business has a 50 day moving average of $85.44 and a 200-day moving average of $92.52. The company has a market cap of $22.20 billion, a PE ratio of 19.11 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 posted its earnings results 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. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The business's quarterly revenue was up 30.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 EPS. Sell-side analysts expect 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 announced 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. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.75%. Seagate Technology's dividend payout ratio (DPR) is presently 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.