Seagate Technology (STX) Scheduled to Post Quarterly Earnings on Tuesday

Seagate Technology (NASDAQ:STX) is set to post its quarterly earnings results after the market closes on Tuesday, April 23rd. Analysts expect Seagate Technology to post earnings of $0.27 per share for the quarter. Seagate Technology has set its Q3 guidance at $0.05-0.45 EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Seagate Technology (NASDAQ:STX) last issued its earnings results 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 business had revenue of $1.56 billion for the quarter, compared to analyst estimates 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 1.2 %

NASDAQ:STX opened at $82.46 on Friday. The firm has a market capitalization of $17.28 billion, a PE ratio of -23.56, a price-to-earnings-growth ratio of 1,379.17 and a beta of 1.04. Seagate Technology has a 12-month low of $54.32 and a 12-month high of $101.26. The firm has a 50-day moving average price of $89.38 and a 200 day moving average price of $82.10.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Thursday, March 21st were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Wednesday, March 20th. Seagate Technology’s dividend payout ratio (DPR) is -80.00%.

Hedge Funds Weigh In On Seagate Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Panagora Asset Management Inc. raised its holdings in shares of Seagate Technology by 65.3% during the first quarter. Panagora Asset Management Inc. now owns 11,805 shares of the data storage provider’s stock worth $1,061,000 after acquiring an additional 4,663 shares during the period. Rhumbline Advisers raised its stake in shares of Seagate Technology by 0.6% in the 1st quarter. Rhumbline Advisers now owns 182,883 shares of the data storage provider’s stock valued at $16,441,000 after purchasing an additional 1,037 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Seagate Technology by 4.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,946 shares of the data storage provider’s stock valued at $2,422,000 after purchasing an additional 1,237 shares in the last quarter. Sei Investments Co. boosted its position in shares of Seagate Technology by 153.5% during the first quarter. Sei Investments Co. now owns 89,250 shares of the data storage provider’s stock worth $8,059,000 after buying an additional 54,038 shares during the period. Finally, Aviva PLC grew its holdings in shares of Seagate Technology by 44.3% during the first quarter. Aviva PLC now owns 95,541 shares of the data storage provider’s stock worth $8,589,000 after buying an additional 29,329 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on STX. Rosenblatt Securities raised their price objective on shares of Seagate Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Mizuho reaffirmed a “buy” rating and set a $100.00 price target on shares of Seagate Technology in a report on Tuesday, April 9th. Susquehanna lifted their price objective on Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a research report on Wednesday, April 10th. Cantor Fitzgerald restated a “neutral” rating and set a $95.00 target price on shares of Seagate Technology in a report on Monday, March 4th. Finally, Robert W. Baird lifted their price target on Seagate Technology from $70.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $86.67.

Seagate Technology Company Profile

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.