Needham & Company Upgrades Seagate Technology (STX) to Strong Buy
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October 12, 2016 9:39 AM EDT
Brean Capital analyst Ananda Baruah reiterated a Buy rating and boosted his price target on Seagate Technology (NASDAQ: STX) to $50.00 (from $42.00) after the company pre-announced better-than-expected results. The firm sees the company ahead of schedule and driving to delivering $5.00 in normalized EPS.... More
October 11, 2016 12:35 PM EDT
FBN lifts its price target on Sector Perform-rated Seagate (Nasdaq: STX) from $33 to $38 following positive preliminary Q1 results released earlier Tuesday.
The firm commented today: This morning, STX preannounced FQ1/Sept. quarter results above expectations. Revenue is now expected to be... More
October 11, 2016 8:02 AM EDT
Seagate Technology plc (Nasdaq: STX) announced selected preliminary financial information for its fiscal first quarter 2017, which ended on September 30, 2016. Seagate expects to report revenue of approximately $2.8 billion, and GAAP and non-GAAP gross margin of approximately 29%. The Company expects to report HDD exabyte shipments of approximately 67 exabytes, reflecting unit shipments of approximately 39 million and average capacity per drive of 1.7 terabytes.
*** NOTE: The Street sees Q1 revenue of $2.74 billion and EPS of $0.79.
These preliminary results compare to the Companys previous forecast for fiscal first quarter 2017 revenue of... More
