Wall Street analysts forecast that Seagate Technology PLC (NASDAQ:STX) will announce earnings of $0.99 per share for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Seagate Technology PLC’s earnings, with the lowest EPS estimate coming in at $0.95 and the highest estimate coming in at $1.04. Seagate Technology PLC reported earnings of $0.69 per share in the same quarter last year, which would suggest a positive year over year growth rate of 43.5%. The business is expected to issue its next earnings results on Tuesday, August 1st.

According to Zacks, analysts expect that Seagate Technology PLC will report full-year earnings of $4.46 per share for the current year, with EPS estimates ranging from $4.42 to $4.51. For the next financial year, analysts anticipate that the firm will post earnings of $4.75 per share, with EPS estimates ranging from $4.19 to $5.45. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Seagate Technology PLC.

Seagate Technology PLC (NASDAQ:STX) last issued its quarterly earnings data on Wednesday, April 26th. The data storage provider reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.04. Seagate Technology PLC had a return on equity of 49.71% and a net margin of 7.26%. The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the previous year, the business earned $0.22 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis.

Several analysts have weighed in on the company. Cowen and Company reaffirmed a “market perform” rating and set a $45.00 target price (down previously from $46.00) on shares of Seagate Technology PLC in a research note on Wednesday, April 26th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating on shares of Seagate Technology PLC in a research note on Wednesday, April 12th. Longbow Research raised Seagate Technology PLC from a “neutral” rating to a “buy” rating and lifted their target price for the company from $18.42 to $55.00 in a research note on Tuesday, April 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $45.00 target price on shares of Seagate Technology PLC in a research note on Monday, March 13th. Finally, BTIG Research reaffirmed a “buy” rating and set a $55.00 target price on shares of Seagate Technology PLC in a research note on Thursday, April 6th. One research analyst has rated the stock with a sell rating, twenty have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $43.74.

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Shares of Seagate Technology PLC (STX) traded up 0.86% during midday trading on Tuesday, reaching $38.72. The company’s stock had a trading volume of 3,751,231 shares. The company’s 50-day moving average price is $42.18 and its 200 day moving average price is $43.56. The firm has a market capitalization of $11.49 billion, a PE ratio of 15.93 and a beta of 1.74. Seagate Technology PLC has a 1-year low of $23.51 and a 1-year high of $50.96.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Wednesday, June 21st were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, June 19th. This represents a $2.52 dividend on an annualized basis and a yield of 6.51%. Seagate Technology PLC’s payout ratio is 103.70%.

In related news, CFO David H. Morton, Jr. sold 3,040 shares of Seagate Technology PLC stock in a transaction on Friday, June 9th. The stock was sold at an average price of $43.26, for a total transaction of $131,510.40. Following the completion of the sale, the chief financial officer now owns 9,063 shares of the company’s stock, valued at $392,065.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Stephen J. Luczo sold 100,000 shares of Seagate Technology PLC stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $50.00, for a total value of $5,000,000.00. Following the sale, the chief executive officer now directly owns 27,188 shares of the company’s stock, valued at approximately $1,359,400. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,456 shares of company stock valued at $5,715,313. Insiders own 1.50% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in STX. Cleararc Capital Inc. boosted its stake in Seagate Technology PLC by 0.7% in the first quarter. Cleararc Capital Inc. now owns 7,195 shares of the data storage provider’s stock worth $330,000 after buying an additional 51 shares during the last quarter. Allianz Asset Management AG boosted its stake in Seagate Technology PLC by 0.6% in the fourth quarter. Allianz Asset Management AG now owns 17,326 shares of the data storage provider’s stock worth $661,000 after buying an additional 100 shares during the last quarter. Cornerstone Investment Partners LLC boosted its stake in Seagate Technology PLC by 0.3% in the first quarter. Cornerstone Investment Partners LLC now owns 39,580 shares of the data storage provider’s stock worth $1,818,000 after buying an additional 110 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in Seagate Technology PLC by 1.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 7,766 shares of the data storage provider’s stock worth $333,000 after buying an additional 115 shares during the last quarter. Finally, Dumont & Blake Investment Advisors LLC boosted its stake in Seagate Technology PLC by 0.7% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 16,163 shares of the data storage provider’s stock worth $742,000 after buying an additional 115 shares during the last quarter. 87.14% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology PLC Company Profile

Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.

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