Seagate Technology (NASDAQ:STX – Get Free Report) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.65-2.05 for the period, compared to the consensus earnings per share estimate of $1.74. The company issued revenue guidance of $2.15-2.45 billion, compared to the consensus revenue estimate of $2.29 billion.
Seagate Technology Stock Up 0.2 %
Shares of STX stock traded up $0.23 during trading hours on Tuesday, hitting $112.64. 3,021,824 shares of the company’s stock traded hands, compared to its average volume of 2,486,256. The stock’s 50 day simple moving average is $104.63 and its 200 day simple moving average is $99.37. The stock has a market cap of $23.71 billion, a PE ratio of 72.99 and a beta of 1.04. Seagate Technology has a 12 month low of $64.12 and a 12 month high of $115.32.
Seagate Technology (NASDAQ:STX – Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.29. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.29) earnings per share. As a group, equities research analysts expect that Seagate Technology will post 7.09 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Check Out Our Latest Stock Report on Seagate Technology
Insider Activity at Seagate Technology
In related news, EVP Ban Seng Teh sold 10,117 shares of Seagate Technology stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total value of $1,112,870.00. Following the completion of the sale, the executive vice president now owns 5,387 shares of the company’s stock, valued at approximately $592,570. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the sale, the chief executive officer now owns 654,270 shares in the company, valued at $61,148,074.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ban Seng Teh sold 10,117 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total value of $1,112,870.00. Following the completion of the transaction, the executive vice president now directly owns 5,387 shares of the company’s stock, valued at $592,570. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 223,284 shares of company stock worth $23,800,887. Insiders own 0.81% of the company’s stock.
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.
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