Seagate Technology (STX) Set to Announce Quarterly Earnings on Tuesday

Seagate Technology (NASDAQ:STX) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, April 23rd. Analysts expect Seagate Technology to post earnings of $0.25 per share for the quarter. Seagate Technology has set its Q3 guidance at $0.05-0.45 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Wednesday, January 24th. The data storage provider reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.19. The company 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 1.5 %

Shares of NASDAQ STX opened at $83.88 on Tuesday. Seagate Technology has a 12 month low of $54.32 and a 12 month high of $101.26. The company has a market cap of $17.57 billion, a price-to-earnings ratio of -23.97, a P/E/G ratio of 1,408.10 and a beta of 1.04. The business has a fifty day simple moving average of $89.71 and a 200-day simple moving average of $81.84.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, March 21st were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Wednesday, March 20th. Seagate Technology’s dividend payout ratio (DPR) is currently -80.00%.

Hedge Funds Weigh In On Seagate Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STX. State of Wyoming acquired a new stake in shares of Seagate Technology in the fourth quarter worth $36,000. CENTRAL TRUST Co raised its stake in shares of Seagate Technology by 50.0% in the third quarter. CENTRAL TRUST Co now owns 900 shares of the data storage provider’s stock valued at $48,000 after acquiring an additional 300 shares during the last quarter. Stonebridge Capital Advisors LLC increased its position in Seagate Technology by 142.4% in the 4th quarter. Stonebridge Capital Advisors LLC now owns 1,166 shares of the data storage provider’s stock valued at $61,000 after acquiring an additional 685 shares in the last quarter. Advisors Asset Management Inc. bought a new position in Seagate Technology in the fourth quarter valued at about $66,000. Finally, SRS Capital Advisors Inc. grew its position in shares of Seagate Technology by 712.3% during the 2nd quarter. SRS Capital Advisors Inc. now owns 1,324 shares of the data storage provider’s stock worth $82,000 after buying an additional 1,161 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on STX shares. Morgan Stanley raised shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $73.00 to $115.00 in a research note on Tuesday, March 26th. Barclays upped their price target on Seagate Technology from $65.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Mizuho restated a “buy” rating and set a $100.00 price objective on shares of Seagate Technology in a research report on Tuesday, April 9th. Cantor Fitzgerald restated a “neutral” rating and set a $95.00 price target on shares of Seagate Technology in a report on Monday, March 4th. Finally, Wells Fargo & Company upped their price objective on shares of Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. Two 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.