Seagate Technology (STX) PT Upped to $31 at Mizuho, Remains Sidelined

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Go back to Seagate Technology (STX) PT Upped to $31 at Mizuho, Remains Sidelined

Seagate Technology Reports Fiscal Fourth Quarter and Fiscal Year 2016 Financial Results

August 2, 2016 8:03 AM EDT

CUPERTINO, Calif.--(BUSINESS WIRE)-- Seagate Technology plc (NASDAQ: STX) (the Company or Seagate) today reported financial results for the quarter and fiscal year ended July 1, 2016. For the fourth quarter, the Company reported revenue of $2.7 billion, gross margin of 24.9%, net income of $70 million and diluted earnings per share of $0.23. On a non-GAAP basis, which excludes the net impact of certain items, Seagate reported gross margin of 25.8%, net income of $207 million and diluted earnings per share of $0.69.

During the fourth quarter, the Company generated $269 million in operating cash flow and paid cash dividends of $188 million.... More