Seagate Technology (STX) Misses Q3 EPS by 21c

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.

Cowen Cuts PT on Seagate (STX) to $23; Q3 Results Worse than Expected

Cowen and Company cuts its price target on Market Perform-rated Seagate Technology (Nasdaq: STX) from $35 down to $23 following Q3 results issued earlier Friday.

Analyst Karl Ackerman offered the following commentary on Seagate following today's report:

Headline EPS guide of ~$0.15 was $0.40 BELOW published Street that came in below even the most... More

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