Seagate Technology (NASDAQ:STX – Get Free Report ) is scheduled to release 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 fourth-quarter guidance at $0.50-$0.90 per share and fourth-quarter 2024 guidance at $0.500-$0.900 per share. Those interested in registering for the company’s earnings conference call can do so using this link.
Seagate Technology (NASDAQ:STX – get free report ) released its quarterly earnings report on Tuesday, April 23rd. The data storage provider reported quarterly EPS of $0.33, beating the consensus estimate of $0.29 by $0.04. The company’s quarterly revenue was $1.66 billion, beating analyst expectations of $1.68 billion. During the same period last year, the company posted earnings per share of ($0.43). The company’s quarterly revenue was down 11.0% year-over-year. Analysts on average expect Seagate Technology to post EPS of $0.00 for the current fiscal year and EPS of $0.50 for the next fiscal year.
Seagate Technology Stock Performance
Nasdaq STX opened at $108.94 on Tuesday. Seagate Technology’s one-year low is $57.32 and its one-year high is $108.97. The company’s 50-day simple moving average is $99.28 and its 200-day simple moving average is $91.75. The company has a market capitalization of $22.88 billion, a P/E ratio of -84.45 and a beta of 1.02.
Seagate Technology announces dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Thursday, June 20th were paid a $0.70 dividend. This equates to a $2.80 dividend on an annualized basis, or a dividend yield of 2.57%. The ex-dividend date for this dividend was Thursday, June 20th. Seagate Technology’s dividend payout ratio is currently -217.05%.
Insider Activities
In related news, EVP Ban Seng Teh sold 9,703 shares of Seagate Technology stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total transaction value of $921,785.00. With this 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 on Tuesday, June 11th. The shares were sold at an average price of $99.99, for a total transaction value of $592,740.72. With this 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, in a transaction that took place on Tuesday, May 14th, EVP Bang Seng Thae sold 9,703 shares of Seagate Technology stock. The shares were sold at an average price of $95.00, for a total value of $921,785.00. With this sale, the Senior Vice President now directly owns 15,185 shares of the company’s stock, valued at $1,442,575. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,531 shares of the company’s stock for $3,592,946. 0.89% of the stock is owned by insiders.
Analyst upgrades and downgrades
Several equity research analysts have recently commented on the company. Wedbush raised Seagate Technology’s price target from $105.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, June 4th. UBS Group raised their price target on Seagate Technology from $90.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Citigroup raised their price target on Seagate Technology from $110.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Barclays lowered their price target on Seagate Technology from $85.00 to $80.00 and gave the company an “equal weight” rating 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 given a buy rating. According to MarketBeat data, the company currently has an average rating of “hold” and an average price target of $98.88.
Read the latest research report on STX
About Seagate Technology
(Get your free report)
Seagate Technology Holdings plc provides data storage technologies and solutions in Singapore, the United States, the Netherlands and internationally. It offers mass storage products such as 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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