Seagate Technology PLC (NASDAQ:STX) is reporting first quarter financial results on Thursday 22nd October 2020, after market close.
According to analysts surveyed by Thomson Reuters, STX is expected to report 1Q21 income of $ 0.88 per share from revenue of $ 2335.80 million.
For the full year, analysts anticipate top line of $ 10100.30 million, while looking forward to income of $ 4.64 per share bottom line.
Previous Quarter Performance
Seagate Technology PLC disclosed income for the fourth quarter of $ 1.20 per share, from the revenue of $ 2,517.00 million. The quarterly earnings up 39.53 percent while revenues raised 6.16 percent compared with the same quarter last year.
The consensus estimates are income of $ 1.29 per share from $ 2613.39 million in revenue. The bottom line results missed street analysts by $ 0.09 or 6.98 percent, at the same time, top line results fell short of analysts by $ 96.39 million or 3.69 percent.
Stock Performance
Shares of Seagate Technology PLC traded low $ -0.20 or -0.39 percent on Wednesday, reaching $ 51.69 with volume of 3.44 million shares. Seagate Technology PLC has traded high as $ 52.25 and has cracked $ 51.47 on the downward trend
The closing price of $ 51.69, representing a 32.98 % increase from the 52 week low of $ 39.02 and a 19.14 % decrease over the 52 week high of $ 64.17.
The company has a market capital of $ 13.26 billion and is part of the Technology sector and Data Storage industry.
Recent Analyst recommendations
- On 13th October 2020, maintained by Morgan Stanley at Overweight rating, with $ 61.00 target price.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.65 per share on July 28, 2020. The dividend were payable on October 7, 2020 to holders of record as of the close of business on September 23, 2020 and ex-dividend date on September 22, 2020.
Conference Call
Seagate Technology PLC will be hosting a conference call at 4:30 PM eastern time on 22nd October 2020, to discuss its 1Q21 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.seagate.com
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. The companys products are used in enterprise servers and storage systems; edge compute/client compute applications, primarily for desktop and mobile computing; and edge non-compute/client non-compute applications, such as various end user devices comprising portable external storage systems, surveillance systems, digital video recorders, network-attached storages, and gaming consoles, as well as data centers.
