Seagate Technology Public
The 10-second takeaway
For the quarter ended Sep. 28 (Q1), Seagate Technology Public missed slightly on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share grew significantly.
Margins grew across the board.
Seagate Technology Public notched revenue of $3.73 billion. The 17 analysts polled by S&P Capital IQ looked for revenue of $3.80 billion on the same basis. GAAP reported sales were 33% higher than the prior-year quarter's $2.81 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.45. The 21 earnings estimates compiled by S&P Capital IQ predicted $1.70 per share. GAAP EPS of $1.42 for Q1 were 344% higher than the prior-year quarter's $0.32 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 28.4%, 890 basis points better than the prior-year quarter. Operating margin was 16.7%, 830 basis points better than the prior-year quarter. Net margin was 15.6%, 1,060 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $3.53 billion. On the bottom line, the average EPS estimate is $1.25.
Next year's average estimate for revenue is $14.11 billion. The average EPS estimate is $5.15.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,183 members out of 1,285 rating the stock outperform, and 102 members rating it underperform. Among 349 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 327 give Seagate Technology Public a green thumbs-up, and 22 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Seagate Technology Public is hold, with an average price target of $32.05.
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