Brokerages expect Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) to announce sales of $2.81 billion for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Seagate Technology’s earnings, with the lowest sales estimate coming in at $2.75 billion and the highest estimate coming in at $2.90 billion. Seagate Technology posted sales of $2.73 billion in the same quarter last year, which would indicate a positive year over year growth rate of 2.9%. The company is scheduled to issue its next quarterly earnings results before the market opens on Monday, January 1st.
According to Zacks, analysts expect that Seagate Technology will report full-year sales of $11.97 billion for the current fiscal year, with estimates ranging from $11.78 billion to $12.15 billion. For the next financial year, analysts forecast that the business will report sales of $12.66 billion, with estimates ranging from $12.34 billion to $13.00 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Seagate Technology.
Seagate Technology (NASDAQ:STX – Get Rating) last issued its quarterly earnings data on Wednesday, January 26th. The data storage provider reported $2.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.21 by $0.07. Seagate Technology had a net margin of 15.35% and a return on equity of 322.33%. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period last year, the firm posted $1.17 EPS. Seagate Technology’s quarterly revenue was up 18.8% compared to the same quarter last year.
A number of analysts have weighed in on STX shares. Robert W. Baird reduced their price target on shares of Seagate Technology from $120.00 to $100.00 in a report on Wednesday, March 16th. StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Thursday, April 7th. Susquehanna restated a “hold” rating and issued a $93.00 price objective on shares of Seagate Technology in a research report on Tuesday, January 25th. Susquehanna Bancshares reaffirmed a “hold” rating and issued a $93.00 target price on shares of Seagate Technology in a research note on Tuesday, January 25th. Finally, Wedbush lifted their price objective on shares of Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, January 27th. Twelve equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $108.35.
In other Seagate Technology news, Director Holdings LP Valueact sold 272,297 shares of Seagate Technology stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $108.01, for a total value of $29,410,798.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen J. Luczo sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $103.26, for a total value of $5,163,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,076,597 shares of company stock valued at $224,036,049 in the last ninety days. Insiders own 0.81% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Kestra Private Wealth Services LLC lifted its holdings in shares of Seagate Technology by 4.3% during the third quarter. Kestra Private Wealth Services LLC now owns 3,995 shares of the data storage provider’s stock valued at $330,000 after purchasing an additional 166 shares in the last quarter. Naples Global Advisors LLC lifted its holdings in Seagate Technology by 13.2% in the third quarter. Naples Global Advisors LLC now owns 25,293 shares of the data storage provider’s stock valued at $2,087,000 after acquiring an additional 2,950 shares during the period. TCW Group Inc. lifted its holdings in Seagate Technology by 0.3% in the third quarter. TCW Group Inc. now owns 60,683 shares of the data storage provider’s stock valued at $5,007,000 after acquiring an additional 179 shares during the period. Crescent Grove Advisors LLC lifted its holdings in Seagate Technology by 4.2% in the third quarter. Crescent Grove Advisors LLC now owns 3,734 shares of the data storage provider’s stock valued at $308,000 after acquiring an additional 150 shares during the period. Finally, CCM Investment Advisers LLC bought a new position in Seagate Technology in the third quarter valued at about $5,174,000. 81.67% of the stock is currently owned by institutional investors.
Shares of Seagate Technology stock traded down $2.69 during trading on Tuesday, hitting $81.41. The stock had a trading volume of 2,806,433 shares, compared to its average volume of 1,722,205. The company has a market capitalization of $17.82 billion, a PE ratio of 10.21, a P/E/G ratio of 8.26 and a beta of 1.00. The company has a quick ratio of 1.06, a current ratio of 1.49 and a debt-to-equity ratio of 10.70. The stock has a 50 day simple moving average of $96.18 and a 200 day simple moving average of $98.70. Seagate Technology has a 1 year low of $78.20 and a 1 year high of $117.67.
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 6th. Shareholders of record on Tuesday, March 22nd were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend was Monday, March 21st. Seagate Technology’s payout ratio is currently 35.13%.
About Seagate Technology (Get Rating)
Seagate Technology Holdings Plc operates as a holding company that is engaged in the development, production, and distribution of data storage products and electronic data storage solutions. Its products include hard disk drives, solid state hybrid drives, solid state drives, peripheral component interconnect express cards, serial advanced technology attachment controllers, storage subsystems and computing solutions.
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