Seagate Technology PLC (NASDAQ:STX) is set to release its Q117 earnings data before the market opens on Wednesday, October 19th. Analysts expect Seagate Technology PLC to post earnings of $0.79 per share and revenue of $2.79 billion for the quarter.
Seagate Technology PLC (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, August 2nd. The data storage provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.09. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.32 billion. Seagate Technology PLC had a return on equity of 38.98% and a net margin of 2.22%. The company’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share. On average, analysts expect Seagate Technology PLC to post $3.3 EPS for the current fiscal year and $3.37 EPS for the next fiscal year.
Seagate Technology PLC (NASDAQ:STX) traded up 1.49% on Tuesday, reaching $35.53. The company’s stock had a trading volume of 2,135,979 shares. The company has a market capitalization of $10.66 billion, a price-to-earnings ratio of 43.33 and a beta of 2.50. The firm’s 50 day moving average price is $36.28 and its 200-day moving average price is $29.02. Seagate Technology PLC has a 1-year low of $18.42 and a 1-year high of $41.83.
The company also recently announced a quarterly dividend, which was paid on Saturday, October 15th. Shareholders of record on Wednesday, September 21st were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 7.20%. The ex-dividend date of this dividend was Monday, September 19th. Seagate Technology PLC’s dividend payout ratio (DPR) is presently 307.32%.
A number of equities research analysts have weighed in on the company. Brean Capital reaffirmed a “buy” rating and set a $30.00 target price on shares of Seagate Technology PLC in a research report on Thursday, June 30th. FBN Securities lifted their price target on Seagate Technology PLC from $33.00 to $38.00 and gave the company a “sector perform” rating in a report on Tuesday, October 11th. Seaport Global Securities lifted their price target on Seagate Technology PLC to $44.00 and gave the company a “neutral” rating in a report on Tuesday, October 11th. Zacks Investment Research upgraded Seagate Technology PLC from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Thursday, July 14th. Finally, Needham & Company LLC reiterated a “strong-buy” rating and issued a $39.00 price target (up from $33.00) on shares of Seagate Technology PLC in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, twenty have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $38.35.
In related news, Director Frank Biondi sold 1,251 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $32.45, for a total value of $40,594.95. Following the completion of the transaction, the director now directly owns 6,433 shares in the company, valued at $208,750.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mark Re sold 3,082 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $32.50, for a total value of $100,165.00. Following the completion of the transaction, the senior vice president now owns 56,623 shares of the company’s stock, valued at $1,840,247.50. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tredje AP fonden acquired a new position in shares of Seagate Technology PLC during the second quarter valued at $146,000. Thrivent Financial for Lutherans raised its position in shares of Seagate Technology PLC by 12.2% in the second quarter. Thrivent Financial for Lutherans now owns 9,819 shares of the data storage provider’s stock valued at $239,000 after buying an additional 1,069 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Seagate Technology PLC by 2.4% in the second quarter. Ameritas Investment Partners Inc. now owns 10,935 shares of the data storage provider’s stock valued at $266,000 after buying an additional 261 shares during the last quarter. FIL Ltd raised its position in shares of Seagate Technology PLC by 8.4% in the second quarter. FIL Ltd now owns 13,980 shares of the data storage provider’s stock valued at $341,000 after buying an additional 1,081 shares during the last quarter. Finally, Pacad Investment Ltd. acquired a new position in shares of Seagate Technology PLC during the second quarter valued at $392,000. Institutional investors own 83.93% of the company’s stock.
Seagate Technology PLC Company Profile
Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.
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