Seagate Technology (NASDAQ:STX) Issues Q4 2021 Earnings Guidance

Seagate Technology (NASDAQ:STX) updated its fourth quarter 2021 earnings guidance on Tuesday. The company provided EPS guidance of $1.700-2.000 for the period. The company issued revenue guidance of $2.80 billion-3.10 billion, compared to the consensus revenue estimate of $2.87 billion.Seagate Technology also updated its Q4 guidance to $1.70-2.00 EPS.

Several research firms have recently commented on STX. Stifel Nicolaus upped their price objective on shares of Seagate Technology from $75.00 to $86.00 and gave the company a buy rating in a report on Monday, February 22nd. Morgan Stanley upped their price objective on shares of Seagate Technology from $98.00 to $114.00 and gave the company an overweight rating in a report on Wednesday. Rosenblatt Securities upped their price objective on shares of Seagate Technology from $95.00 to $110.00 and gave the company a buy rating in a report on Wednesday. Loop Capital upped their price objective on shares of Seagate Technology from $90.00 to $100.00 and gave the company a buy rating in a report on Wednesday, April 21st. Finally, Wedbush reaffirmed a neutral rating and issued a $62.00 price objective on shares of Seagate Technology in a report on Monday, March 22nd. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $84.96.

NASDAQ:STX traded down $0.66 during trading hours on Friday, reaching $96.80. 69,088 shares of the company were exchanged, compared to its average volume of 3,646,566. The company has a debt-to-equity ratio of 10.12, a quick ratio of 0.81 and a current ratio of 1.23. The stock has a 50-day moving average of $90.58. The firm has a market cap of $22.15 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 16.82 and a beta of 1.14. Seagate Technology has a twelve month low of $43.53 and a twelve month high of $106.22.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Thursday, April 22nd. The data storage provider reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.30. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Seagate Technology had a net margin of 9.80% and a return on equity of 88.26%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the business posted $1.38 earnings per share. As a group, research analysts anticipate that Seagate Technology will post 4.82 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 7th. Stockholders of record on Wednesday, May 12th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Tuesday, May 11th. Seagate Technology’s dividend payout ratio (DPR) is 58.64%.

In other news, CEO William D. Mosley sold 77,754 shares of the stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $92.49, for a total value of $7,191,467.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen J. Luczo sold 100,000 shares of the stock in a transaction dated Monday, April 26th. The shares were sold at an average price of $92.13, for a total transaction of $9,213,000.00. The disclosure for this sale can be found here. Insiders sold 202,279 shares of company stock valued at $18,751,510 over the last quarter. Company insiders own 0.97% of the company’s stock.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company offers hard disk and solid state drives, including serial advanced technology attachment, serial attached SCSI, and non-volatile memory express products; solid state hybrid drives; and storage subsystems.

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Earnings History and Estimates for Seagate Technology (NASDAQ:STX)

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