Benchmark Upgrades Seagate Technology (STX) to Buy
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Seagate Technology (STX) PT Raised to $50 at Brean Capital; Ahead of Schedule on $5 EPS
October 12, 2016 9:39 AM EDTBrean 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
Cowen Lifts PT on Seagate (STX) to $36; Sees Current Dividend Levels as 'Much More Sustainable'
October 11, 2016 3:05 PM EDTCowen & Company lifts its price target on Market Perform-rated Seagate Technology (Nasdaq: STX) from $32 to $36 following strong preliminary Q1 results issued early Tuesday.
Analyst Karl Ackerman commented today, The company continues to execute well on its cost savings initiatives that it laid out only a few short months ago. With a more streamlined cost... More
Seagate Technology (STX) Prelim. Q1 Revenue Outpaces Expectations
October 11, 2016 8:02 AM EDTSeagate 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
