Seagate Technology (STX) Expected to Announce Quarterly Earnings on Tuesday

Seagate Technology (NASDAQ:STX) is expected to post its quarterly earnings results before the market opens on Tuesday, April 22nd. Analysts expect Seagate Technology to post earnings of $1.75 per share and revenue of $2.14 billion for the quarter.

Seagate Technology Price Performance

Shares of STX stock opened at $72.67 on Tuesday. Seagate Technology has a 1-year low of $63.19 and a 1-year high of $115.32. The firm has a fifty day moving average of $88.73 and a two-hundred day moving average of $95.50. The firm has a market cap of $15.38 billion, a P/E ratio of 13.29 and a beta of 1.21.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date was Wednesday, March 19th. Seagate Technology’s dividend payout ratio is presently 52.65%.

Insider Transactions at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the sale, the chief executive officer now directly owns 555,677 shares of the company’s stock, valued at $46,988,047.12. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.81% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on STX shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $120.00 price objective on shares of Seagate Technology in a research note on Wednesday, January 22nd. Citigroup decreased their price objective on shares of Seagate Technology from $115.00 to $90.00 and set a “buy” rating for the company in a report on Monday. Mizuho lowered their price objective on shares of Seagate Technology from $115.00 to $95.00 and set an “outperform” rating on the stock in a research note on Thursday, April 10th. The Goldman Sachs Group cut their target price on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $160.00 price objective (up previously from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $118.78.

About Seagate Technology

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.