Seagate Technology PLC (NASDAQ:STX) released its earnings results on Monday. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.10, Bloomberg Earnings reports. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 earnings per share.

Shares of Seagate Technology PLC (NASDAQ:STX) traded up 12.62% during midday trading on Monday, reaching $39.35. The company’s stock had a trading volume of 33,601,239 shares. Seagate Technology PLC has a 52 week low of $30.60 and a 52 week high of $50.96. The stock has a 50-day moving average price of $33.49 and a 200 day moving average price of $38.09. The stock has a market capitalization of $11.33 billion, a PE ratio of 15.25 and a beta of 1.72.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 6.40%. Seagate Technology PLC’s dividend payout ratio is presently 97.67%.

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A number of brokerages recently weighed in on STX. Mizuho dropped their price objective on Seagate Technology PLC from $41.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, July 25th. Benchmark Co. lowered Seagate Technology PLC from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research raised Seagate Technology PLC from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Loop Capital began coverage on Seagate Technology PLC in a report on Monday, July 24th. They set a “buy” rating and a $50.00 price objective on the stock. Finally, Barclays PLC lowered Seagate Technology PLC from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $49.00 to $40.00 in a report on Thursday, July 13th. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $41.10.

In other news, insider Philip G. Brace acquired 1,000 shares of Seagate Technology PLC stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average price of $33.34 per share, with a total value of $33,340.00. Following the completion of the transaction, the insider now owns 62,855 shares in the company, valued at $2,095,585.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.87% of the stock is currently owned by company insiders.

About Seagate Technology PLC

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.

Earnings History for Seagate Technology PLC (NASDAQ:STX)

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