Seagate Technology (NASDAQ:STX) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.94-1.04 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.90. The company issued revenue guidance of $2.42-2.68 billion, compared to the consensus revenue estimate of $2.56 billion.

Several research analysts have issued reports on the company. Benchmark boosted their target price on Seagate Technology from $55.00 to $60.00 and gave the company a buy rating in a research report on Friday. Morgan Stanley boosted their price target on Seagate Technology from $51.00 to $56.00 and gave the company an overweight rating in a report on Friday. Goldman Sachs Group set a $37.00 price target on Seagate Technology and gave the company a sell rating in a report on Sunday, July 21st. KeyCorp set a $58.00 price target on Seagate Technology and gave the company a hold rating in a report on Tuesday, September 10th. Finally, Wedbush started coverage on Seagate Technology in a report on Wednesday, June 26th. They issued a neutral rating and a $35.00 price target for the company. They noted that the move was a valuation call. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $47.90.

Shares of NASDAQ:STX opened at $52.40 on Friday. The company has a market capitalization of $14.99 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 10.90 and a beta of 1.65. Seagate Technology has a 52 week low of $35.38 and a 52 week high of $57.20. The company has a quick ratio of 1.52, a current ratio of 1.95 and a debt-to-equity ratio of 1.97. The firm has a 50 day moving average of $49.18 and a 200 day moving average of $47.38.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Friday, August 2nd. The data storage provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.33 billion. Seagate Technology had a net margin of 19.36% and a return on equity of 72.07%. Seagate Technology’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.62 earnings per share. On average, sell-side analysts expect that Seagate Technology will post 4.3 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Wednesday, September 25th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date is Tuesday, September 24th. Seagate Technology’s dividend payout ratio (DPR) is 52.28%.

In related news, CEO William D. Mosley sold 90,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $54.31, for a total value of $4,887,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen J. Luczo sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $55.29, for a total transaction of $276,450.00. The disclosure for this sale can be found here. Insiders sold 130,000 shares of company stock valued at $6,814,500 in the last three months. 1.12% of the stock is currently owned by insiders.

Seagate Technology Company Profile

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.

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Earnings History and Estimates for Seagate Technology (NASDAQ:STX)

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