Seagate Technology (STX) PT Lowered to $35 at Wells Fargo Following 4Q
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Go back to Seagate Technology (STX) PT Lowered to $35 at Wells Fargo Following 4Q
July 25, 2017 8:01 AM EDT
CUPERTINO, Calif.--(BUSINESS WIRE)--
Seagate Technology plc (NASDAQ: STX) (the Company or Seagate) today
reported financial results for the quarter and fiscal year ended June
30, 2017. For the fourth quarter, the Company reported revenue of $2.4
billion, gross margin of 27.7%, net income of $114 million and diluted
earnings per share of $0.38. On a non-GAAP basis, which excludes the net
impact of certain items, Seagate reported gross margin of 28.9%, net
income of $192 million and diluted earnings per share of $0.65.
During the fourth quarter, the Company generated $243 million in cash
flow from operations and returned approximately $400 million... More
July 25, 2017 8:00 AM EDT
Dave Mosley to become CEO, Steve Luczo to become Executive Chairman
CUPERTINO, Calif.--(BUSINESS WIRE)--
Seagate Technology plc (NASDAQ: STX) today announced that its Board of
Directors has unanimously voted to appoint Dave Mosley, Seagate's
President and Chief Operating Officer, as Chief Executive Officer
effective October 1, 2017. Mr. Mosley was also appointed to the Board of
Directors of Seagate, effective July 25, 2017. Steve Luczo, who
currently serves as Chief Executive Officer, will transition to the role
of Executive Chairman on October 1, 2017 in order to focus on
longer-term shareholder value... More
