Morgan Stanley Upgrades Seagate Technology (STX) to Equalweight

Can Seagate (STX) Keep It's Big, Fat, Juicy Dividend After The Major Restructuring?

Yielding 10.5% based on last night's close, Seagate's (NYSE: STX) dividend yield signaled a major red flag as being too good to be true with fears of being cut. However, with last night's massive restructuring and solid revenue guidance fears of a dividend cut are... More

Brean Capital Remains Bullish on Seagate Technology (STX) Following June Pre-Announcement - PT to $35

Brean Capital reiterated a Buy rating on Seagate Technology (NASDAQ: STX), and raised the price target to $35.00 (from $30.00), following the company's June quarter pre-announcement.

Analyst Ananda Baruah commented, "While we continue to believe that STX can generate CY17 EPS of $3.00 - $3.50 (Street at... More

Jefferies Remains Bullish on Seagate Technology (STX) Following 4Q Pre-Announcement

Jefferies reiterated a Buy rating and $26.00 price target on Seagate Technology (NASDAQ: STX) following the company's 4Q pre-announcement. STX pre-announced revenue of $2.65B, better than its $2.3B guidance, and the Street's $2.34B estimate. The improvement was driven by improved demand for HDD products, particularly... More

RBC Capital Raises Price Target on Seagate Technology (STX) Following June Pre-announcement

RBC Capital reiterated a Sector Perform rating on Seagate Technology (NASDAQ: STX), and raised the price target to $27.00 (from $24.00), following the company's positive June pre-announcement. Seagate anticipates revenue of $2.65B, non-GAAP gross margins of 25.8% on 37M units vs. previous guidance of $2.3B revenue and 22.7% gross margin. RBC... More

Cowen Lifts PT on Seagate (STX) to $26; Updates Ests Following Positive Q4 Preannouncement

Cowen and Company is lifting its price target on Market Perform-rated Seagate Technology (Nasdaq: STX) from $23 to $26 following positive preliniary Q4 results released Monday.

Analyst Karl Ackerman offered the following commentary late Monday: STXs unit guide implies some share loss during the Q, but we think this was concentrated in... More

Seagate (STX) volatility flat into guidance for Q4 and workforce reductions

Seagate Technology (NASDAQ: STX) is recently up $3.11 to $27.20 in the premarket after providing guidance for Q4 and announcing that it will reduce its workforce by 6,500 employees. July call option implied volatility is at 56, August is at 49; compared to its 52-week range of 29 to 63.

Seagate Technology (STX): Restructuring Confirms Dividend and Future EPS Growth - Needham

Needham & Company analyst, Richard Kugele, believes that with Seagate Technology (NASDAQ: STX) restructuring announcement last night, some of the major final pieces of Seagate 3.0 have fallen into place. The reduction of roughly 14% of the workforce (and a revised footprint for 35-40M quarterly... More

Seagate Technology (STX): Prelim Results Warrant a PT Increase But No Upgrade - Baird

Baird analyst, Jayson Noland, raised his price target on Seagate Technology (NASDAQ: STX) after the company reported decent preliminary results relative to soft expectations, citing outperformance in Enterprise HDDs. He views the cloud as a long-term opportunity but with some trepidation given recent pricing... More

Seagate Technology (STX) Prelim. Q4 Revenue Tops Views; to Cut Headcount by 6,500

Seagate Technology plc (NASDAQ: STX) (the Company) today announced selected preliminary financial information for its fiscal fourth quarter and year- end 2016, which ended on July 1, 2016. Seagate expects to report revenue of approximately $2.65 billion, gross margin of 25% and non-GAAP gross margin of approximately 25.8% for the fiscal fourth quarter 2016. The Company expects to report HDD unit shipments of approximately 37 million, reflecting approximately 62 exabytes, average capacity per drive of 1.7 terabytes and average selling price per unit of $67 for the fiscal fourth quarter 2016.

(Street sees Q4 revenue of $2.34B)

These preliminary results compare to the Companys previous... More