Seagate Technology (STX) to Release Earnings on Tuesday

Seagate Technology (NASDAQ:STX) is scheduled to announce its earnings results after the market closes on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.25 per share for the quarter. Seagate Technology has set its Q3 guidance at $0.05-0.45 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

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 the consensus estimate of ($0.21) by $0.19. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.56 billion. On average, analysts expect Seagate Technology to post $0 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Seagate Technology Stock Down 1.5 %

Shares of NASDAQ STX opened at $83.88 on Tuesday. The firm has a market cap of $17.57 billion, a PE ratio of -23.97, a P/E/G ratio of 1,408.10 and a beta of 1.04. The company’s fifty day simple moving average is $89.71 and its 200 day simple moving average is $81.84. Seagate Technology has a 12-month low of $54.32 and a 12-month high of $101.26.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, March 21st were given 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 3.34%. Seagate Technology’s dividend payout ratio (DPR) is presently -80.00%.

Analyst Ratings Changes

STX has been the subject of a number of research analyst reports. Barclays boosted their target price on Seagate Technology from $65.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Wedbush reaffirmed a “neutral” rating and set a $100.00 target price on shares of Seagate Technology in a research report on Thursday, January 25th. Susquehanna lifted their price target on shares of Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a research report on Wednesday, April 10th. Evercore ISI initiated coverage on shares of Seagate Technology in a report on Tuesday, February 27th. They set an “outperform” rating and a $110.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on shares of Seagate Technology from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $86.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. State of Wyoming bought a new position in Seagate Technology during the fourth quarter valued at $36,000. CENTRAL TRUST Co lifted its position in shares of Seagate Technology by 50.0% during the 3rd quarter. CENTRAL TRUST Co now owns 900 shares of the data storage provider’s stock valued at $48,000 after buying an additional 300 shares during the last quarter. Stonebridge Capital Advisors LLC grew its stake in shares of Seagate Technology by 142.4% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 1,166 shares of the data storage provider’s stock worth $61,000 after acquiring an additional 685 shares during the period. Advisors Asset Management Inc. purchased a new stake in Seagate Technology in the 4th quarter worth about $66,000. Finally, SRS Capital Advisors Inc. raised its stake in Seagate Technology by 712.3% in the 2nd quarter. SRS Capital Advisors Inc. now owns 1,324 shares of the data storage provider’s stock valued at $82,000 after acquiring an additional 1,161 shares during the period. 92.87% of the stock is owned by institutional investors.

About Seagate Technology

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.