Seagate Technology (NASDAQ:STX) Issues Q4 2021 Earnings Guidance

Seagate Technology (NASDAQ:STX) updated its fourth quarter 2021 earnings guidance on Tuesday. The company provided EPS guidance of $1.700-2.000 for the period. The company issued revenue guidance of $2.80 billion-3.10 billion, compared to the consensus revenue estimate of $2.87 billion.Seagate Technology also updated its Q4 guidance to $1.70-2.00 EPS.

STX has been the subject of several recent research reports. Susquehanna Bancshares reissued a sell rating and issued a $58.00 target price on shares of Seagate Technology in a research report on Friday, April 23rd. Citigroup boosted their target price on shares of Seagate Technology from $85.00 to $100.00 and gave the stock a neutral rating in a research report on Wednesday. Barclays boosted their target price on shares of Seagate Technology from $70.00 to $85.00 and gave the stock an underweight rating in a research report on Wednesday. Bank of America boosted their target price on shares of Seagate Technology from $107.00 to $120.00 and gave the stock a buy rating in a research report on Thursday, May 20th. Finally, Northland Securities reissued a market perform rating and issued a $98.00 target price on shares of Seagate Technology in a research report on Thursday, May 27th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $84.96.

Seagate Technology stock traded down $1.87 during mid-day trading on Thursday, reaching $97.46. The company had a trading volume of 2,099,010 shares, compared to its average volume of 3,646,510. The company has a current ratio of 1.23, a quick ratio of 0.81 and a debt-to-equity ratio of 10.12. Seagate Technology has a 52 week low of $43.53 and a 52 week high of $106.22. The stock’s 50 day simple moving average is $90.20. The stock has a market cap of $22.31 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 16.82 and a beta of 1.14.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Thursday, April 22nd. The data storage provider reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.30. Seagate Technology had a net margin of 9.80% and a return on equity of 88.26%. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the prior year, the firm earned $1.38 EPS. The business’s revenue was up .5% on a year-over-year basis. On average, equities research analysts predict that Seagate Technology will post 4.82 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 7th. Stockholders of record on Wednesday, May 12th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Tuesday, May 11th. Seagate Technology’s dividend payout ratio is 58.64%.

In other news, Director Stephen J. Luczo sold 100,000 shares of the stock in a transaction on Monday, April 26th. The shares were sold at an average price of $92.13, for a total value of $9,213,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William D. Mosley sold 77,754 shares of the stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $92.49, for a total transaction of $7,191,467.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,279 shares of company stock valued at $18,751,510. Corporate insiders own 0.97% of the company’s stock.

About Seagate Technology

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company offers hard disk and solid state drives, including serial advanced technology attachment, serial attached SCSI, and non-volatile memory express products; solid state hybrid drives; and storage subsystems.

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

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