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

Seagate Technology (NASDAQ:STX) issued an update on its fourth quarter 2021 earnings guidance on Tuesday morning. The company provided earnings per share (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.

Several analysts have recently issued reports on STX shares. Bank of America boosted their price objective on shares of Seagate Technology from $107.00 to $120.00 and gave the company a buy rating in a research note on Thursday, May 20th. Wedbush reaffirmed a neutral rating and issued a $62.00 price objective on shares of Seagate Technology in a research note on Monday, March 22nd. Mizuho lifted their price target on shares of Seagate Technology from $83.00 to $88.00 and gave the company a neutral rating in a research report on Tuesday, May 18th. Northland Securities reissued a market perform rating and issued a $98.00 target price on shares of Seagate Technology in a research note on Thursday, May 27th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on Seagate Technology from $85.00 to $100.00 and gave the company a neutral rating in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company’s stock. Seagate Technology presently has a consensus rating of Hold and a consensus price target of $84.96.

Shares of NASDAQ STX traded down $1.87 during mid-day trading on Thursday, hitting $97.46. The company had a trading volume of 2,080,159 shares, compared to its average volume of 3,646,339. The firm has a market cap of $22.31 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 16.82 and a beta of 1.14. The firm’s 50 day simple moving average is $90.20. 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 12 month low of $43.53 and a 12 month high of $106.22.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data 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 business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the previous year, the business earned $1.38 earnings per share. The company’s revenue was up .5% on a year-over-year basis. Equities analysts anticipate that Seagate Technology will post 4.82 earnings per share for the current year.

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

In other news, CEO William D. Mosley sold 77,754 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Katherine Schuelke sold 24,525 shares of the company’s stock in a transaction that occurred on Friday, April 30th. The shares were sold at an average price of $95.70, for a total transaction of $2,347,042.50. Following the completion of the sale, the senior vice president now owns 44,028 shares of the company’s stock, valued at approximately $4,213,479.60. The disclosure for this sale can be found here. Insiders sold a total of 202,279 shares of company stock worth $18,751,510 over the last quarter. Insiders own 0.97% of the company’s stock.

Seagate Technology Company Profile

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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