Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) – Northland Capmk reduced their FY2023 EPS estimates for Seagate Technology in a research report issued to clients and investors on Tuesday, June 20th. Northland Capmk analyst G. Richard now anticipates that the data storage provider will earn ($0.48) per share for the year, down from their previous estimate of ($0.32). The consensus estimate for Seagate Technology’s current full-year earnings is ($0.34) per share. Northland Capmk also issued estimates for Seagate Technology’s Q4 2023 earnings at ($0.46) EPS, Q1 2024 earnings at ($0.29) EPS, Q2 2024 earnings at ($0.03) EPS and FY2024 earnings at $0.25 EPS.
Seagate Technology (NASDAQ:STX – Get Rating) last announced its quarterly earnings data on Thursday, April 20th. The data storage provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.49). Seagate Technology had a negative return on equity of 69.08% and a negative net margin of 1.91%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the business earned $1.65 earnings per share. Seagate Technology’s revenue was down 33.6% on a year-over-year basis.
Seagate Technology Stock Performance
NASDAQ STX opened at $61.23 on Thursday. Seagate Technology has a one year low of $47.47 and a one year high of $83.78. The company has a 50-day simple moving average of $60.45 and a 200-day simple moving average of $61.00. The firm has a market capitalization of $12.64 billion, a PE ratio of -72.89 and a beta of 1.09.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB lifted its position in Seagate Technology by 1.0% during the 4th quarter. Nordea Investment Management AB now owns 217,578 shares of the data storage provider’s stock valued at $11,432,000 after purchasing an additional 2,211 shares during the period. Los Angeles Capital Management LLC grew its stake in shares of Seagate Technology by 82.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 122,297 shares of the data storage provider’s stock valued at $6,434,000 after buying an additional 55,241 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Seagate Technology by 7.0% during the 4th quarter. CIBC Asset Management Inc now owns 29,686 shares of the data storage provider’s stock valued at $1,562,000 after purchasing an additional 1,952 shares during the last quarter. Sei Investments Co. lifted its holdings in Seagate Technology by 36.3% during the 4th quarter. Sei Investments Co. now owns 98,155 shares of the data storage provider’s stock valued at $5,164,000 after purchasing an additional 26,149 shares during the last quarter. Finally, Keystone Wealth Services LLC acquired a new stake in shares of Seagate Technology during the first quarter worth $1,150,000. 87.37% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Seagate Technology news, SVP Katherine Schuelke sold 3,487 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $62.09, for a total transaction of $216,507.83. Following the transaction, the senior vice president now directly owns 28,658 shares in the company, valued at approximately $1,779,375.22. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by corporate insiders.
Seagate Technology Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Wednesday, June 21st will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, June 20th. This represents a $2.80 annualized dividend and a yield of 4.57%. Seagate Technology’s dividend payout ratio (DPR) is -333.33%.
Seagate Technology Company Profile
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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