Technology Stock under Review: Seagate Technology plc (NASDAQ: STX)

On Thursday, Shares of Seagate Technology plc (NASDAQ: STX) showed the bearish trend with a lower momentum of -1.17% to $46.44. The company traded total volume of 1,053,529 shares as contrast to its average volume of 3.36M shares. The company has a market value of $13.07B and about 278.09M shares outstanding.

Seagate Technology PLC (STX) stated fiscal second-quarter net income of $384.0M. The Dublin-based company said it had profit of $1.34 per share. Earnings, adjusted for non-recurring costs, came to $1.41 per share. The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.27 per share.

The electronic storage maker posted revenue of $2.720B in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $2.740B.

The Company offered net profit margin of 14.80% while its gross profit margin was 30.50%. ROE was recorded as 98.50% while beta factor was 1.68. The stock, as of recent close, has shown the weekly downbeat performance of -7.21% which was maintained at 21.77% in this year.

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Edith Slocum

I am Edith Slocum and I have over 16 years experience in the financial services industry giving me a vast understanding of how news affects the financial markets. I am an active day trader spending the majority of my time analyzing earnings reports and watching commodities and derivatives. I have a Masters Degree in Economics from Westminster University with previous roles counting Investment Banking. <strong>Address:</strong> 4510 Sigley Road, Salina, KS 67401, USA <strong>Phone:</strong> (+1) 785-534-9610 <strong>Email:</strong> [email protected]

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