Seagate Technology Holdings plc (NASDAQ:STX) Stake Lessened by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lessened its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 33.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,443 shares of the data storage provider’s stock after selling 8,377 shares during the period. Verdence Capital Advisors LLC’s holdings in Seagate Technology were worth $1,698,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Sigma Investment Counselors Inc. acquired a new position in Seagate Technology in the second quarter worth $216,000. Family Firm Inc. acquired a new position in Seagate Technology in the second quarter worth $41,000. My Legacy Advisors LLC acquired a new position in Seagate Technology in the second quarter worth $348,000. DT Investment Partners LLC boosted its holdings in Seagate Technology by 921.5% in the second quarter. DT Investment Partners LLC now owns 2,993 shares of the data storage provider’s stock worth $309,000 after purchasing an additional 2,700 shares during the period. Finally, 1620 Investment Advisors Inc. boosted its holdings in shares of Seagate Technology by 2,982.7% during the second quarter. 1620 Investment Advisors Inc. now owns 4,809 shares of the data storage provider’s stock valued at $497,000 after acquiring an additional 4,653 shares during the period. Institutional investors own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on STX shares. The Goldman Sachs Group boosted their price target on shares of Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Bank of America reissued a “buy” rating and set a $110.00 price target on shares of Seagate Technology in a report on Wednesday, June 5th. StockNews.com downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday. Rosenblatt Securities boosted their price target on shares of Seagate Technology from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Robert W. Baird boosted their price target on shares of Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $115.94.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 10,117 shares of Seagate Technology stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the transaction, the executive vice president now owns 5,387 shares of the company’s stock, valued at approximately $592,570. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total value of $1,869,200.00. Following the completion of the sale, the chief executive officer now owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ban Seng Teh sold 10,117 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $110.00, for a total value of $1,112,870.00. Following the completion of the sale, the executive vice president now directly owns 5,387 shares of the company’s stock, valued at approximately $592,570. The disclosure for this sale can be found here. Insiders have sold a total of 72,547 shares of company stock valued at $7,084,361 in the last 90 days. 0.89% of the stock is currently owned by corporate insiders.

Seagate Technology Trading Up 0.3 %

NASDAQ STX opened at $104.76 on Tuesday. The stock’s 50-day moving average price is $102.31 and its two-hundred day moving average price is $95.14. The company has a market cap of $22.02 billion, a PE ratio of -81.21 and a beta of 1.02. Seagate Technology Holdings plc has a 1 year low of $62.43 and a 1 year high of $113.57.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.29. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.29) EPS. Research analysts forecast that Seagate Technology Holdings plc will post 6.72 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be paid a dividend of $0.70 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.80 annualized dividend and a yield of 2.67%. Seagate Technology’s dividend payout ratio (DPR) is presently -217.05%.

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.