Seagate Technology (STX) to Release Earnings on Tuesday

Seagate Technology (NASDAQ:STX - Get Free Report) is expected to be releasing its earnings data before the market opens on Tuesday, April 29th. Analysts expect Seagate Technology to post earnings of $1.75 per share and revenue of $2.14 billion for the quarter. Investors that wish to listen to the company's conference call can do so using this link.

Seagate Technology Stock Up 4.1 %

Seagate Technology stock traded up $2.98 during midday trading on Friday, reaching $75.80. The company's stock had a trading volume of 4,588,360 shares, compared to its average volume of 2,793,337. The company has a market cap of $16.05 billion, a P/E ratio of 13.86 and a beta of 1.21. The business has a 50-day simple moving average of $86.90 and a 200-day simple moving average of $94.63. Seagate Technology has a fifty-two week low of $63.19 and a fifty-two week high of $115.32.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th were issued a $0.72 dividend. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.80%. Seagate Technology's payout ratio is currently 52.65%.

Insider Transactions at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total value of $1,691,200.00. Following the completion of the transaction, the chief executive officer now owns 555,677 shares of the company's stock, valued at approximately $46,988,047.12. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.81% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on STX. Susquehanna increased their price target on shares of Seagate Technology from $65.00 to $68.00 and gave the company a "negative" rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group decreased their price objective on Seagate Technology from $112.00 to $99.00 and set a "neutral" rating for the company in a report on Friday, January 10th. Barclays lifted their target price on shares of Seagate Technology from $95.00 to $105.00 and gave the company an "equal weight" rating in a report on Wednesday, January 22nd. Wedbush reissued an "outperform" rating and set a $150.00 price target on shares of Seagate Technology in a report on Wednesday, January 22nd. Finally, StockNews.com cut Seagate Technology from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus 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.