Great West Life Assurance Co. Can Acquires 9,560 Shares of Seagate Technology PLC (STX)

Great West Life Assurance Co. Can lifted its holdings in shares of Seagate Technology PLC (NASDAQ:STX) by 3.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 331,974 shares of the data storage provider’s stock after purchasing an additional 9,560 shares during the period. Great West Life Assurance Co. Can’s holdings in Seagate Technology were worth $15,727,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. WESPAC Advisors SoCal LLC purchased a new position in shares of Seagate Technology during the 3rd quarter worth approximately $108,000. Girard Partners LTD. purchased a new position in shares of Seagate Technology during the 3rd quarter worth approximately $108,000. Quad Cities Investment Group LLC acquired a new stake in Seagate Technology during the second quarter worth approximately $124,000. Partners Capital Investment Group LLP acquired a new stake in Seagate Technology during the second quarter worth approximately $136,000. Finally, First Hawaiian Bank acquired a new stake in Seagate Technology during the third quarter worth approximately $139,000. 90.54% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on STX. BidaskClub upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Tuesday, August 7th. Summit Redstone upgraded shares of Seagate Technology to a “hold” rating in a research report on Friday, November 2nd. Longbow Research restated a “hold” rating on shares of Seagate Technology in a research report on Monday, November 12th. Maxim Group decreased their target price on shares of Seagate Technology from $54.00 to $51.00 and set a “hold” rating on the stock in a research report on Wednesday, November 7th. Finally, BMO Capital Markets lowered shares of Seagate Technology to a “market perform” rating and set a $45.00 target price on the stock. in a research report on Monday, November 5th. Five analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have assigned a buy rating to the company. Seagate Technology has an average rating of “Hold” and an average target price of $50.91.

In related news, Director Holdings L.P. Valueact purchased 365,671 shares of the firm’s stock in a transaction on Tuesday, November 20th. The shares were bought at an average price of $41.84 per share, for a total transaction of $15,299,674.64. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Valueact Capital Master Fund, purchased 371,086 shares of the firm’s stock in a transaction on Friday, November 23rd. The stock was bought at an average price of $41.84 per share, for a total transaction of $15,526,238.24. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 990,426 shares of company stock worth $41,467,928. 1.00% of the stock is owned by company insiders.

Shares of STX opened at $44.76 on Tuesday. The firm has a market capitalization of $12.33 billion, a price-to-earnings ratio of 8.12, a P/E/G ratio of 0.65 and a beta of 1.73. Seagate Technology PLC has a fifty-two week low of $36.69 and a fifty-two week high of $62.70. The company has a current ratio of 1.42, a quick ratio of 1.07 and a debt-to-equity ratio of 2.34.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Friday, November 2nd. The data storage provider reported $1.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.15. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.95 billion. Seagate Technology had a net margin of 12.57% and a return on equity of 123.05%. Seagate Technology’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the business earned $0.96 EPS. Sell-side analysts forecast that Seagate Technology PLC will post 5.33 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Wednesday, December 19th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, December 18th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 5.63%. Seagate Technology’s dividend payout ratio (DPR) is presently 45.74%.

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About Seagate Technology

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.

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Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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