Seagate Technology Public
The 10-second takeaway
For the quarter ended Dec. 28 (Q2), Seagate Technology Public beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP earnings per share increased slightly.
Margins shrank across the board.
Seagate Technology Public booked revenue of $3.67 billion. The 20 analysts polled by S&P Capital IQ anticipated revenue of $3.57 billion on the same basis. GAAP reported sales were 15% higher than the prior-year quarter's $3.20 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 $1.38. The 23 earnings estimates compiled by S&P Capital IQ anticipated $1.27 per share. GAAP EPS of $1.30 for Q2 were 1.6% higher than the prior-year quarter's $1.28 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 27.0%, 460 basis points worse than the prior-year quarter. Operating margin was 15.2%, 440 basis points worse than the prior-year quarter. Net margin was 13.4%, 420 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $3.46 billion. On the bottom line, the average EPS estimate is $1.26.
Next year's average estimate for revenue is $14.18 billion. The average EPS estimate is $5.26.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,216 members out of 1,317 rating the stock outperform, and 101 members rating it underperform. Among 399 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 380 give Seagate Technology Public a green thumbs-up, and 19 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 $30.02.
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