Seagate Technology (NASDAQ:STX) posted its earnings results on Tuesday. The data storage provider reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.27, MarketWatch Earnings reports. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.98 billion. Seagate Technology had a net margin of 9.80% and a return on equity of 88.26%. The business’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 EPS.
Shares of STX opened at $82.60 on Thursday. Seagate Technology has a 52-week low of $43.53 and a 52-week high of $106.22. 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 business’s fifty day simple moving average is $91.68. The firm has a market cap of $18.90 billion, a PE ratio of 20.60, a PEG ratio of 10.01 and a beta of 1.14.
Several research firms have recently weighed in on STX. Loop Capital lifted their target price 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. Northland Securities raised shares of Seagate Technology from a “market perform” rating to an “outperform” rating and set a $98.00 target price for the company in a report on Thursday, June 24th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Seagate Technology from $88.00 to $95.00 and gave the company a “hold” rating in a report on Thursday. Rosenblatt Securities lifted their target price on shares of Seagate Technology from $95.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, June 9th. Finally, Summit Insights cut shares of Seagate Technology from a “buy” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $90.30.
About Seagate Technology
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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