Verdence Capital Advisors LLC Purchases 439 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Verdence Capital Advisors LLC boosted its position in Seagate Technology Holdings plc (NASDAQ:STX) by 1.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 29,987 shares of the data storage provider’s stock after acquiring an additional 439 shares during the period. Verdence Capital Advisors LLC’s holdings in Seagate Technology were worth $2,560,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Seagate Technology by 9.2% during the third quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock valued at $1,166,022,000 after buying an additional 1,485,937 shares during the period. BlackRock Inc. increased its position in shares of Seagate Technology by 20.5% during the first quarter. BlackRock Inc. now owns 15,620,098 shares of the data storage provider’s stock valued at $1,032,801,000 after buying an additional 2,662,098 shares during the period. FMR LLC increased its position in shares of Seagate Technology by 13.1% during the third quarter. FMR LLC now owns 13,929,708 shares of the data storage provider’s stock valued at $918,664,000 after buying an additional 1,612,264 shares during the period. State Street Corp increased its position in shares of Seagate Technology by 9.6% during the first quarter. State Street Corp now owns 9,360,341 shares of the data storage provider’s stock valued at $625,307,000 after buying an additional 819,501 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Seagate Technology by 3.0% during the third quarter. Wellington Management Group LLP now owns 4,381,497 shares of the data storage provider’s stock valued at $288,960,000 after buying an additional 127,214 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Trading Down 1.2 %

Shares of NASDAQ:STX traded down $0.98 during trading on Friday, reaching $82.46. 2,883,493 shares of the company traded hands, compared to its average volume of 2,743,264. The firm has a market capitalization of $17.28 billion, a price-to-earnings ratio of -23.56, a P/E/G ratio of 1,362.98 and a beta of 1.04. Seagate Technology Holdings plc has a 52-week low of $54.32 and a 52-week high of $101.26. The business’s fifty day moving average is $89.38 and its 200-day moving average is $82.22.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Wednesday, January 24th. The data storage provider reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.19. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.56 billion. On average, sell-side analysts predict that Seagate Technology Holdings plc will post 0.1 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Thursday, March 21st were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.40%. Seagate Technology’s dividend payout ratio is presently -80.00%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on STX. TD Cowen boosted their price objective on Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. BNP Paribas lowered Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price objective for the company. in a report on Thursday, January 11th. Wells Fargo & Company boosted their price objective on Seagate Technology from $80.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. Wedbush reissued a “neutral” rating and set a $100.00 price objective on shares of Seagate Technology in a report on Thursday, January 25th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $95.00 price objective on shares of Seagate Technology in a report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Seagate Technology currently has a consensus rating of “Hold” and an average price target of $86.67.

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.