The Dublin-based Seagate Technology PLC (NASDAQ:STX), the world’s biggest manufacturer of computer disk drives, reported on Thursday that sales and profit margin in the fiscal fourth-quarter would fails to meet the corporations previous estimate, mentioning lowered hard-drive shipments and a supplier quality issue that affected few results.
Seagate stock moved down almost 6.6% to settle at $23.43 in late trading, after being little changed at $25.08 at the finish in New York.
Seagate anticipates announcing fiscal fourth-quarter sales of $4.5 billion and gross margin, without few items, of 33.6%, under its previous estimate for sales of as a minimum $5 billion and gross margin of 34.5%.
The median forecast of analysts polled by Bloomberg was for $4.88 billion in sales and 34.7% gross margin.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Western Digital Corp. (NASDAQ:WDC) fell -0.97% to settle at $30.68, EMC Corporation (NYSE:EMC) moved down -1.52% to end at $25.24 while STEC, Inc. (NASDAQ:STEC) plunged -1.32% to finish on Thursday at $8.23.
Seagate Technology PLC (NASDAQ:STX) last session volume of 6.64 million shares was lower than its average volume of 15.10 million shares. The stock after opening at $24.90 hit high price of $25.33 and then closed at $25.08 by scoring -0.20%.
The liquidity measure in recent quarter results of the company was recorded 2.02 as current ratio and on the other side the debt to equity ratio was 0.78 and long-term debt to equity ratio also remained 0.78. The Company had total cash at hand $28.54 billion and a book value per share as $109.63 in the most recent quarter.
The stock price volatility was 3.44% for a week and 3.80% for a month as well as price volatility’s Average True Range for 14 days was 1.02 and its beta remained 2.35.
STX generated revenue of 13.32 billion in the following twelve months and earned $1.97 billion. The Company showed a negative 14.78% in the net profit margin and as well as in its operating margin which remained 16.83%. Company’s annual sales growth for the past five year was 3.57%.
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