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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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy