Verdence Capital Advisors LLC Has $523,000 Stock Position in Seagate Technology Holdings PLC $STX

Key Points

• Verdence Capital Advisors LLC significantly reduced its holdings in Seagate Technology by 77.9% in Q2, ending up with a position worth $523,000.
• The company reported a quarterly earnings per share (EPS) of $2.59, exceeding analyst expectations of $2.45, with revenues of $2.44 billion, up 29.5% from the previous year.
• Seagate Technology's recent dividend of $0.72 per share reflects a 1.3% yield, with a dividend payout ratio of 42.54%.

Verdence Capital Advisors LLC lowered its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 77.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,621 shares of the data storage provider's stock after selling 12,789 shares during the quarter. Verdence Capital Advisors LLC's holdings in Seagate Technology were worth $523,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of STX. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Seagate Technology during the 2nd quarter worth approximately $271,000. Sequoia Financial Advisors LLC raised its stake in shares of Seagate Technology by 38.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,369 shares of the data storage provider's stock worth $775,000 after purchasing an additional 1,478 shares in the last quarter. Vest Financial LLC raised its stake in shares of Seagate Technology by 4.2% during the 2nd quarter. Vest Financial LLC now owns 7,409 shares of the data storage provider's stock worth $1,069,000 after purchasing an additional 297 shares in the last quarter. MGO One Seven LLC bought a new stake in shares of Seagate Technology during the 2nd quarter worth approximately $349,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Seagate Technology by 21.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 61,263 shares of the data storage provider's stock worth $8,886,000 after purchasing an additional 10,847 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Price Performance

STX stock opened at $219.38 on Thursday. The stock has a market capitalization of $46.72 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 0.95 and a beta of 1.63. The business's fifty day moving average price is $195.03 and its two-hundred day moving average price is $143.09. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $264.83.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.14. The firm had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.40 billion. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The company's quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Research analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.72 per share. The ex-dividend date was Tuesday, September 30th. This represents a $2.88 annualized dividend and a yield of 1.3%. Seagate Technology's dividend payout ratio (DPR) is presently 42.54%.

Insider Activity

In other Seagate Technology news, Director Jay L. Geldmacher sold 2,500 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $150.50, for a total transaction of $376,250.00. Following the transaction, the director owned 352 shares in the company, valued at $52,976. This trade represents a 87.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Christopher Morris sold 15,347 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $195.80, for a total value of $3,004,942.60. Following the completion of the transaction, the executive vice president owned 9,843 shares in the company, valued at $1,927,259.40. The trade was a 60.92% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,620 shares of company stock worth $14,464,056. Corporate insiders own 0.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on STX. Robert W. Baird upped their price objective on Seagate Technology from $120.00 to $188.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Cantor Fitzgerald upped their price objective on Seagate Technology from $175.00 to $280.00 and gave the stock an "overweight" rating in a research note on Monday, September 22nd. Benchmark increased their price target on Seagate Technology from $165.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, September 16th. Wells Fargo & Company increased their price target on Seagate Technology from $160.00 to $240.00 and gave the company an "equal weight" rating in a research note on Monday. Finally, Bank of America increased their price target on Seagate Technology from $215.00 to $255.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $214.89.

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.

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