Seagate's (STX) PT Raised to $50 at FBN, Analyst Maintains Sector Perform Rating

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Go back to Seagate's (STX) PT Raised to $50 at FBN, Analyst Maintains Sector Perform Rating

Seagate Technology Reports Fiscal Fourth Quarter and Fiscal Year 2015 Financial Results

July 31, 2015 8:00 AM EDT

CUPERTINO, Calif.--(BUSINESS WIRE)-- Seagate Technology plc (NASDAQ: STX) (the Company or Seagate) today reported financial results for the quarter and fiscal year ended July 3, 2015. For the fourth quarter, the Company reported revenue of $2.9 billion, gross margin of 26.5%, net income of $138 million and diluted earnings per share of $0.43. On a non-GAAP basis, which excludes the net impact of certain items, Seagate reported gross margin of 27.2%, net income of $250 million and diluted earnings per share of $0.77.

During the fourth quarter, the Company generated $228 million in operating cash flow and returned $351 million to shareholders... More