Seagate Technology PLC (STX) Forecasted to Earn Q2 2019 Earnings of $1.38 Per Share

Seagate Technology PLC (NASDAQ:STX) – Investment analysts at KeyCorp upped their Q2 2019 earnings per share estimates for shares of Seagate Technology in a research note issued to investors on Monday. KeyCorp analyst W. Twigg now anticipates that the data storage provider will earn $1.38 per share for the quarter, up from their previous estimate of $1.36. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Seagate Technology’s Q3 2019 earnings at $1.17 EPS and FY2019 earnings at $4.72 EPS.

STX has been the topic of a number of other research reports. BidaskClub upgraded shares of Seagate Technology from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 8th. Vetr lowered shares of Seagate Technology from a “buy” rating to a “hold” rating and set a $41.79 price objective on the stock. in a research note on Thursday, November 23rd. BMO Capital Markets reiterated a “hold” rating and set a $40.00 price objective on shares of Seagate Technology in a research note on Monday, October 23rd. Guggenheim reiterated a “hold” rating on shares of Seagate Technology in a research note on Monday, October 23rd. Finally, Argus reiterated a “hold” rating and set a $40.00 price objective on shares of Seagate Technology in a research note on Tuesday, October 24th. Four equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $43.15.

Seagate Technology (NASDAQ STX) traded up $0.68 during midday trading on Wednesday, hitting $47.07. 3,808,752 shares of the company were exchanged, compared to its average volume of 7,015,915. Seagate Technology has a fifty-two week low of $30.60 and a fifty-two week high of $50.96. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 4.03. The firm has a market capitalization of $13,620.00, a price-to-earnings ratio of 17.83, a PEG ratio of 0.57 and a beta of 1.68.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.10. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Seagate Technology had a return on equity of 84.50% and a net margin of 7.41%. The business’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.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th were given a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, December 19th. This represents a $2.52 annualized dividend and a yield of 5.35%. Seagate Technology’s dividend payout ratio (DPR) is 95.45%.

In other Seagate Technology news, CFO David H. Morton, Jr. sold 7,909 shares of Seagate Technology stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $40.00, for a total transaction of $316,360.00. Following the transaction, the chief financial officer now directly owns 25,561 shares in the company, valued at approximately $1,022,440. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Philip G. Brace sold 12,000 shares of Seagate Technology stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $46.44, for a total transaction of $557,280.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 194,744 shares of company stock worth $9,075,320. 0.87% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. WFG Advisors LP grew its position in Seagate Technology by 16,536.4% during the 2nd quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock worth $142,000 after purchasing an additional 3,638 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Seagate Technology during the 2nd quarter worth approximately $150,000. Balentine LLC grew its position in Seagate Technology by 56.8% during the 3rd quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock worth $148,000 after purchasing an additional 1,619 shares in the last quarter. New England Research & Management Inc. purchased a new position in Seagate Technology during the 4th quarter worth approximately $205,000. Finally, SpiderRock Advisors LLC grew its position in Seagate Technology by 2,419.5% during the 3rd quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock worth $184,000 after purchasing an additional 5,347 shares in the last quarter. Hedge funds and other institutional investors own 91.32% of the company’s stock.

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Seagate Technology 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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