(VIANEWS) – Net income for the quarter ended July 2 increased to $482 million, or $2.07 per share, from $166 million, or 64 cents per share, the previous year.

Adjusted profits per share increased to a nine-year high of $2.00 from $1.20, exceeding the FactSet estimate of $1.87. Revenue grew 19.7 percent to $3.01 billion, a six-year high, above the FactSet estimate of $2.97 billion.

For the fiscal first quarter, Seagate anticipates adjusted EPS in the range of $2.05 to $2.35, up from the FactSet consensus of $1.90, and sales in the range of $2.95 billion to $3.25 billion, up from $2.99 billion.

Through Tuesday, the stock had risen 37.5 percent year to date, while the S&P 500 had risen 15.1 percent.

Shares of Seagate Technology (STX) slid 5.87% to $80.47 at 10:23 EST on Wednesday, after three successive sessions in a row of losses. NASDAQ Composite (STX) is jumping 0.42% to $14,560.42, following the last session’s upward trend. This seems, up until now, a somewhat positive trend exchanging session today.

Seagate Technology’s last close was $84.29, 20.65% under its 52-week high of $106.22.

Volume

Today’s last reported volume for Seagate Technology is 1982782 which is 34.49% below its average volume of 3026520.

Seagate Technology’s Sales

Seagate Technology’s sales growth is 13.9% for the ongoing quarter and 20.9% for the next.

Seagate Technology’s Revenue

Year-on-year quarterly revenue growth grew by 0.5%, now sitting on 10.18B for the twelve trailing months.

Volatility

Seagate Technology’s last week, last month’s, and last quarter’s current volatility was a negative 2.08%, a negative 0.06%, and a positive 2.15%, respectively.

Seagate Technology’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 2.08% (last week), 1.28% (last month), and 2.15% (last quarter), respectively.

Stock Price Classification

According to the stochastic oscillator, a useful indicator of overbought and oversold conditions,

Seagate Technology’s stock is considered to be overbought (>=80).

Seagate Technology’s Stock Yearly Top and Bottom Value

Seagate Technology’s stock is valued at $80.47 at 10:24 EST, way below its 52-week high of $106.22 and way higher than its 52-week low of $43.53.

Seagate Technology’s Moving Average

Seagate Technology’s value is way below its 50-day moving average of $90.61 and under its 200-day moving average of $80.60.

News about Seagate Technology (STX) today

Seagate technology stock surges after profit and revenue beats, citing ‘rapidly accelerating’ data storage demand. According to today’s article on MarketWatch, “Shares of Seagate Technology Holdings PLC charged up 2.6% in premarket trading Wednesday, after the data storage company reported fiscal fourth-quarter profit and revenue that rose to multiyear highs and beat expectations, and provided an upbeat outlook, citing “rapidly accelerating” demand for data. ”

More news about Seagate Technology (STX).

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