Seagate Technology Reports Fiscal Third Quarter 2016 Financial Results

Seagate Technology (STX) Losses Mount Following Weak Results/Outlook

Seagate Technology (NASDAQ: STX) adds to Friday's big losses following dismal results and outlook. Shares down another 6.7% to $20.28, a new 52-week low.

Analysts across Wall Street were downgrading shares and slashing prices targets this morning.

Jefferies Cut Price Target on Seagate Technology (STX) to $25 Following a Weak 3Q

Jefferies maintained a Buy rating on Seagate Technology (NASDAQ: STX), and cut the price target to $25.00 (from $29.00), following the company's 3Q earnings report. STX reported revenue of $2.59B, missing the Street's $2.61B. EPS of $0.22 missed Consensus of $0.41 due to significantly higher-than-expected tax, slightly... More

Seagate (STX) Bad Quarter As Expected - Wells Fargo

Wells Fargo analyst, Maynard Um, cut his valuation range on Seagate Technology (NASDAQ: STX) to $21-$23 from $28-$32 but maintained his Market Perform rating as there were some positives to indicate a turnaround in the distant future.

STXs revenues were in line with its prerelease. Demand weakness and gross margins continue to be problems fo rthe company. Demand weakness was in mission-critical enterprise drives, PCs hard... More

UBS Cuts Price Target on Seagate Technology (STX) Following 3Q Report and Guidance

UBS maintained a Sell rating on Seagate Technology (NASDAQ: STX), and cut the price target to $20.00 (from $22.00), following the company's 3Q earnings report. STX reported results in-line with the company's preannouncement, and guided 4Q revenue at $2.3bn. F16 EPS of $1.68 guidance is down from $2.35... More

JPMorgan Downgrades Seagate Technology (STX) to Underweight

JPMorgan downgraded Seagate Technology (NASDAQ: STX) from Neutral to Underweight with a price target of $15.00 (from $30.00).

For an analyst ratings summary and ratings history on Seagate Technology click here. For more ratings news on Seagate Technology click here.

Shares of Seagate Technology closed at $21.77 yesterday.

RBC Capital Downgrades Seagate Technology (STX) to Sector Perform

RBC Capital downgraded Seagate Technology (NASDAQ: STX) from Outperform to Sector Perform with a price target of $24.00 (from $36.00) 24 after disappointing March-qtr results and June-qtr guide.

Analyst Amit Daryanani commented, "We lowering our rating on STX to SP and target to $24 after disappointing March-qtr... More

BofA/Merrill Lynch Downgrades Seagate Technology (STX) to Underperform

BofA/Merrill Lynch downgraded Seagate Technology (NASDAQ: STX) from Neutral to Underperform.

For an analyst ratings summary and ratings history on Seagate Technology click here. For more ratings news on Seagate Technology click here.

Shares of Seagate Technology closed at $26.90 yesterday.

Seagate (STX) PT Cut to $25 at Baird

Baird analyst Jayson Noland reiterated a Neutral rating and lowered its price target on Seagate Technology (NASDAQ: STX) to $25.00 (from $31.00).

Noland commented, "Seagate guided down into the June quarter off of a weak March. Management also announced substantial cost reductions forecasting... More

Seagate Technology (STX) Sinks on Weak EPS, Outlook as Dividend Yield Balloons Past 11%

Seagate Technology (NASDAQ: STX) is under heavy pressure (-16.7%) following weak results this morning.

Seagate reported Q3 EPS of $0.22, $0.21 worse than the analyst estimate of $0.43. Revenue for the quarter came in at $2.6 billion versus the consensus estimate of $2.62 billion.

The company... More

Seagate Technology (STX) Declares $0.63 Quarterly Dividend; 9.4% Yield

Seagate Technology (NASDAQ: STX) declared a quarterly dividend of $0.63 per share, or $2.52 annualized.

The dividend will be payable on May 24, 2016, to stockholders of record on May 10, 2016, with an ex-dividend date of May 6, 2016.

The annual yield on the dividend is 9.4 percent.

For... More

Seagate Technology (STX) Misses Q3 EPS by 21c

Seagate Technology (NASDAQ: STX) reported Q3 EPS of $0.22, $0.21 worse than the analyst estimate of $0.43. Revenue for the quarter came in at $2.6 billion versus the consensus estimate of $2.62 billion.

For earnings history and earnings-related data on Seagate Technology (STX) click here.