Brokerages expect Seagate Technology PLC (NASDAQ:STX) to announce $2.73 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Seagate Technology’s earnings. The lowest sales estimate is $2.73 billion and the highest is $2.75 billion. Seagate Technology reported sales of $2.91 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 6.2%. The firm is scheduled to announce its next earnings results on Monday, February 4th.

According to Zacks, analysts expect that Seagate Technology will report full-year sales of $10.85 billion for the current financial year, with estimates ranging from $10.36 billion to $11.58 billion. For the next fiscal year, analysts forecast that the business will post sales of $10.92 billion, with estimates ranging from $9.52 billion to $12.23 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Seagate Technology.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Friday, November 2nd. The data storage provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.55 by $0.15. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.95 billion. Seagate Technology had a net margin of 12.57% and a return on equity of 123.05%. The business’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 EPS.

STX has been the topic of several recent analyst reports. BidaskClub downgraded shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 5th. Zacks Investment Research upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Tuesday, July 31st. Loop Capital dropped their price objective on shares of Seagate Technology to $60.00 and set a “buy” rating on the stock in a report on Monday, October 29th. They noted that the move was a valuation call. Royal Bank of Canada restated a “hold” rating and set a $62.00 price objective on shares of Seagate Technology in a report on Monday, July 30th. Finally, Benchmark restated a “hold” rating on shares of Seagate Technology in a report on Tuesday, July 31st. Five equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $50.91.

Shares of STX opened at $43.03 on Friday. The firm has a market capitalization of $13.11 billion, a P/E ratio of 7.81, a PEG ratio of 0.69 and a beta of 1.71. Seagate Technology has a one year low of $36.69 and a one year high of $62.70. The company has a current ratio of 1.42, a quick ratio of 1.07 and a debt-to-equity ratio of 2.34.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Wednesday, December 19th will be given a dividend of $0.63 per share. The ex-dividend date is Tuesday, December 18th. This represents a $2.52 annualized dividend and a dividend yield of 5.86%. Seagate Technology’s dividend payout ratio (DPR) is currently 45.74%.

In other Seagate Technology news, insider Valueact Capital Master Fund, bought 2,090,783 shares of the firm’s stock in a transaction dated Monday, August 13th. The shares were acquired at an average cost of $50.94 per share, for a total transaction of $106,504,486.02. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James J. Murphy sold 509 shares of Seagate Technology stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $56.60, for a total transaction of $28,809.40. Following the sale, the executive vice president now owns 37,693 shares in the company, valued at $2,133,423.80. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 4,055,357 shares of company stock worth $209,385,069 and have sold 46,086 shares worth $2,529,660. 1.00% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. ValueAct Holdings L.P. boosted its position in Seagate Technology by 4.4% in the second quarter. ValueAct Holdings L.P. now owns 22,404,700 shares of the data storage provider’s stock valued at $1,265,194,000 after buying an additional 946,100 shares in the last quarter. BlackRock Inc. boosted its position in Seagate Technology by 2.0% in the second quarter. BlackRock Inc. now owns 19,515,088 shares of the data storage provider’s stock valued at $1,102,017,000 after buying an additional 383,002 shares in the last quarter. LSV Asset Management boosted its position in Seagate Technology by 0.5% in the third quarter. LSV Asset Management now owns 6,282,889 shares of the data storage provider’s stock valued at $297,494,000 after buying an additional 32,200 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in Seagate Technology in the third quarter valued at about $259,905,000. Finally, Bank of New York Mellon Corp boosted its position in Seagate Technology by 11.5% in the third quarter. Bank of New York Mellon Corp now owns 3,646,954 shares of the data storage provider’s stock valued at $172,683,000 after buying an additional 375,767 shares in the last quarter. Institutional investors and hedge funds own 83.57% of the company’s stock.

About Seagate Technology

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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