Seagate Technology (NASDAQ:STX – Get Free Report) is scheduled to be releasing its earnings data after the market closes on Tuesday, July 23rd. Analysts expect Seagate Technology to post earnings of $0.75 per share for the quarter. Seagate Technology has set its Q4 guidance at $0.50-0.90 EPS and its Q4 2024 guidance at 0.500-0.900 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.
Seagate Technology (NASDAQ:STX – Get Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the firm posted ($0.43) earnings per share. The company’s quarterly revenue was down 11.0% on a year-over-year basis. On average, analysts expect Seagate Technology to post $0 EPS for the current fiscal year and $5 EPS for the next fiscal year.
Seagate Technology Stock Performance
NASDAQ STX opened at $108.94 on Tuesday. Seagate Technology has a one year low of $57.32 and a one year high of $108.97. The company has a 50-day simple moving average of $99.28 and a 200-day simple moving average of $91.75. The firm has a market capitalization of $22.88 billion, a PE ratio of -84.45 and a beta of 1.02.
Seagate Technology Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Thursday, June 20th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend was Thursday, June 20th. Seagate Technology’s dividend payout ratio is currently -217.05%.
Insider Activity
In related news, EVP Ban Seng Teh sold 9,703 shares of Seagate Technology stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total transaction of $921,785.00. Following the sale, the executive vice president now directly owns 15,185 shares of the company’s stock, valued at $1,442,575. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP John Christopher Morris sold 5,928 shares of Seagate Technology stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $99.99, for a total transaction of $592,740.72. Following the sale, the senior vice president now directly owns 12,185 shares of the company’s stock, valued at $1,218,378.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Ban Seng Teh sold 9,703 shares of Seagate Technology stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total value of $921,785.00. Following the sale, the executive vice president now directly owns 15,185 shares in the company, valued at $1,442,575. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,531 shares of company stock valued at $3,592,946. 0.89% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Wedbush raised Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100.00 price objective for the company in a research note on Wednesday, May 1st. Loop Capital raised their price objective on Seagate Technology from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. UBS Group raised their price objective on Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Citigroup raised their price objective on Seagate Technology from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Barclays reduced their target price on Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $98.88.
View Our Latest Research Report on STX
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.
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