Wall Street brokerages predict that Seagate Technology (NASDAQ:STX) will post sales of $2.76 billion for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Seagate Technology’s earnings, with the highest sales estimate coming in at $2.82 billion and the lowest estimate coming in at $2.73 billion. Seagate Technology posted sales of $2.67 billion during the same quarter last year, which would indicate a positive year over year growth rate of 3.4%. The business is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, May 1st.

According to Zacks, analysts expect that Seagate Technology will report full-year sales of $10.86 billion for the current year, with estimates ranging from $10.44 billion to $11.06 billion. For the next year, analysts expect that the firm will report sales of $10.79 billion per share, with estimates ranging from $9.87 billion to $11.42 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Seagate Technology.

A number of analysts recently issued reports on the company. Citigroup increased their price objective on Seagate Technology from $56.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, March 9th. Loop Capital increased their price objective on Seagate Technology from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, March 22nd. Zacks Investment Research raised Seagate Technology from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Thursday, April 12th. Barclays increased their price objective on Seagate Technology from $45.00 to $55.00 and gave the stock an “underweight” rating in a report on Tuesday, March 27th. Finally, Cross Research raised Seagate Technology from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Four investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $53.35.

In related news, CFO David H. Morton, Jr. sold 11,491 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $51.78, for a total transaction of $595,003.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephen J. Luczo sold 341,738 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $55.00, for a total value of $18,795,590.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 662,785 shares of company stock worth $36,396,992. 0.87% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Kwmg LLC grew its position in Seagate Technology by 2.7% during the 4th quarter. Kwmg LLC now owns 41,817 shares of the data storage provider’s stock worth $1,750,000 after acquiring an additional 1,117 shares during the last quarter. Burney Co. grew its position in Seagate Technology by 17.3% during the 4th quarter. Burney Co. now owns 7,771 shares of the data storage provider’s stock worth $325,000 after acquiring an additional 1,146 shares during the last quarter. Raymond James Trust N.A. grew its position in Seagate Technology by 12.8% during the 4th quarter. Raymond James Trust N.A. now owns 11,021 shares of the data storage provider’s stock worth $461,000 after acquiring an additional 1,250 shares during the last quarter. MML Investors Services LLC grew its position in Seagate Technology by 9.3% during the 4th quarter. MML Investors Services LLC now owns 15,227 shares of the data storage provider’s stock worth $637,000 after acquiring an additional 1,290 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in Seagate Technology by 5.0% during the 4th quarter. CIBC Asset Management Inc now owns 31,807 shares of the data storage provider’s stock worth $1,331,000 after acquiring an additional 1,501 shares during the last quarter. Institutional investors and hedge funds own 88.94% of the company’s stock.

Shares of STX opened at $59.52 on Friday. The stock has a market cap of $16,605.44, a P/E ratio of 14.45, a P/E/G ratio of 0.75 and a beta of 1.68. The company has a debt-to-equity ratio of 4.07, a quick ratio of 1.25 and a current ratio of 1.58. Seagate Technology has a 52-week low of $30.60 and a 52-week high of $62.70.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 4th. Investors of record on Wednesday, March 21st were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, March 20th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.23%. Seagate Technology’s dividend payout ratio is 61.17%.

About Seagate Technology

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company manufactures and distributes hard disk drives, solid state drives and their related controllers, solid state hybrid drives, and storage subsystems. Its products are used in enterprise servers and storage systems applications; client compute applications, primarily for desktop and mobile computing; and client non-compute applications, including various end user devices, such as portable external storage systems, surveillance systems, network-attached storage, digital video recorders, and gaming consoles.

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

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