Verdence Capital Advisors LLC Sells 1,630 Shares of Seagate Technology Holdings PLC $STX

Verdence Capital Advisors LLC lowered its position in Seagate Technology Holdings PLC (NASDAQ:STX) by 45.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,991 shares of the data storage provider’s stock after selling 1,630 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Seagate Technology were worth $459,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Seagate Technology during the second quarter worth about $197,027,000. Boston Partners acquired a new stake in shares of Seagate Technology in the second quarter valued at approximately $193,500,000. Soroban Capital Partners LP boosted its stake in shares of Seagate Technology by 1,468.1% during the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after acquiring an additional 1,327,197 shares during the period. Maple Rock Capital Partners Inc. increased its holdings in shares of Seagate Technology by 85.3% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 1,131,752 shares of the data storage provider’s stock worth $163,346,000 after acquiring an additional 520,846 shares during the last quarter. Finally, State Street Corp lifted its holdings in Seagate Technology by 5.0% during the 2nd quarter. State Street Corp now owns 9,001,365 shares of the data storage provider’s stock valued at $1,305,499,000 after purchasing an additional 432,455 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Trading Up 0.7%

NASDAQ STX opened at $346.53 on Friday. The company has a market cap of $74.00 billion, a price-to-earnings ratio of 44.48, a PEG ratio of 1.04 and a beta of 1.60. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $350.05. The company has a 50 day moving average of $287.40 and a 200-day moving average of $228.02.

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th were issued a dividend of $0.74 per share. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Wednesday, December 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.9%. Seagate Technology’s payout ratio is currently 38.00%.

Insider Buying and Selling

In related news, EVP Ban Seng Teh sold 6,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $270.00, for a total value of $1,620,000.00. Following the completion of the transaction, the executive vice president owned 12,041 shares of the company’s stock, valued at $3,251,070. The trade was a 33.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephanie Tilenius sold 2,046 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $266.41, for a total transaction of $545,074.86. Following the sale, the director owned 12,244 shares in the company, valued at $3,261,924.04. The trade was a 14.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 132,557 shares of company stock valued at $36,847,793 in the last ninety days. Insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on STX. Benchmark upped their price objective on shares of Seagate Technology from $255.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Evercore ISI upped their price target on shares of Seagate Technology from $160.00 to $330.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Fox Advisors increased their price target on shares of Seagate Technology from $245.00 to $270.00 in a report on Wednesday, October 29th. Argus boosted their price objective on Seagate Technology from $170.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Seagate Technology in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $352.00.

Seagate Technology News Summary

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Seagate’s areal-density roadmap and HAMR-powered Mozaic drives are highlighted as keeping HDDs cost-efficient as hyperscalers scale AI storage beyond 36TB — technical progress that supports higher ASPs and long-term capacity demand. Read More.
• Positive Sentiment: Analysts and research pieces point to Seagate’s history of earnings beats and the current setup (pricing power, demand from cloud/AI customers) that make another potential beat likely — a catalyst for upward revisions. Read More.
• Positive Sentiment: Sector rotation into storage: market commentary says institutional money is moving from GPUs/chips into memory and storage as AI shifts emphasis to massive data capacity — a tailwind for HDD demand alongside SSD markets. Read More.
• Positive Sentiment: Multiple broker actions (Exane BNP Paribas upgraded to strong?buy/outperform with a ~$380 target; Rosenblatt, UBS and Bank of America published bullish notes/price-target increases) are boosting sentiment and have helped push STX to a new 12?month high. Read More.
• Neutral Sentiment: Valuation and positioning pieces review STX after the upgrades — analysts debate upside vs. high multiples (STX trades with elevated PE and near its 52?week high), so some investors may pause to reassess entry points. Read More.
• Negative Sentiment: Not all shops are uniformly bullish — Zacks Research cut its rating from strong?buy to hold, which could temper momentum among more conservative investors. Read More.

Seagate Technology Company Profile

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.