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

Verdence Capital Advisors LLC cut its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 45.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,991 shares of the data storage provider’s stock after selling 1,630 shares during the period. Verdence Capital Advisors LLC’s holdings in Seagate Technology were worth $459,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in STX. Allstate Corp acquired a new position in shares of Seagate Technology during the third quarter worth $1,858,000. Wealth Enhancement Advisory Services LLC grew its position in Seagate Technology by 1.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 24,420 shares of the data storage provider’s stock worth $5,495,000 after acquiring an additional 245 shares during the last quarter. Quantum Portfolio Management LLC acquired a new position in Seagate Technology in the 3rd quarter worth about $483,000. Resonant Capital Advisors LLC bought a new position in Seagate Technology in the third quarter valued at about $280,000. Finally, Meitav Investment House Ltd. acquired a new stake in shares of Seagate Technology during the third quarter valued at about $2,626,000. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Up 0.7%

Shares of STX stock opened at $346.53 on Friday. The firm has a 50 day moving average of $287.40 and a 200-day moving average of $228.02. The company has a market cap of $74.00 billion, a price-to-earnings ratio of 44.48, a price-to-earnings-growth ratio of 1.04 and a beta of 1.60. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $350.05.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th were paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.9%. 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. Seagate Technology’s payout ratio is presently 38.00%.

Key Stories Impacting Seagate Technology

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.

Insider Activity

In other news, EVP Ban Seng Teh sold 6,000 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $270.00, for a total transaction of $1,620,000.00. Following the transaction, the executive vice president owned 12,041 shares of the company’s stock, valued at $3,251,070. This represents a 33.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kian Fatt Chong sold 7,078 shares of the business’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $272.14, for a total value of $1,926,206.92. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 132,557 shares of company stock valued at $36,847,793. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Zacks Research downgraded Seagate Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a research note on Monday, December 29th. Argus lifted their price objective on Seagate Technology from $170.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 30th. Cantor Fitzgerald raised their price target on shares of Seagate Technology from $280.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Finally, The Goldman Sachs Group upped their price objective on shares of Seagate Technology from $280.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $352.00.

About Seagate Technology

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.