Seagate shares slide 5% premarket as sales fall and profit guidance falls short [MarketWatch]
Last seagate tech earnings: 4/22 04:05 pm
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US:NASDAQ Investor Relations: seagate.com/investors/overview
Seagate shares slide 5% premarket as sales fall and profit guidance falls short Seagate Technology PLC shares STX, -4.43% fell 5$ in premarket trade Friday, after the maker of hard disk drives and storage products said revenue fell in its fiscal fourth quarter and offered soft profit guidance. Cupertino, Calif.-based Seagate said it had net income of $983 million, or $3.54 a share, in the quarter to June 28, up from $461 million, or $1.57 a share, in the year-earlier period. The number was boosted by a one-time tax benefit of $702 million. Excluding that benefit, adjusted per-share earnings came to 86 cents, ahead of the 84 cents FactSet consensus. Revenue fell to $2.371 billion from $2.835 billion, ahead of the FactSet consensus of $2.326 billion. "As we enter our next fiscal year, global industry conditions have started to improve, particularly among cloud and hyperscale customers," Chief Executive Dave Mosley said in a statement. "Seagate is in a strong strategic position to add
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- Seagate Technology PLC (NASDAQ: STX) was upgraded by analysts at Zacks Investment Research from a "sell" rating to a "hold" rating. They now have a $52.00 price target on the stock.MarketBeat
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- Seagate Delivers Enterprise-Ready Exos 18TB Hard Drive Designed for Hyperscale Applications With Proven Enterprise Class Reliability and Data SecurityBusiness Wire
- Seagate Technology PLC (NASDAQ: STX) was upgraded by analysts at BidaskClub from a "sell" rating to a "hold" rating.MarketBeat
- Seagate Technology PLC (NASDAQ: STX) is now covered by analysts at Northland Securities. They set an "outperform" rating and a $65.00 price target on the stock.MarketBeat
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- 9/15/20 - Form 4
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