Seagate’s CFO fireside chat indicated confidence that the company will achieve the higher end of its September quarter EPS and revenue guidance, though Heat Assisted Magnetic Recording cloud qualification is likely to be delayed to the December quarter, Citi tells investors in a research note. The firm, which made no change to its Buy rating or $125 price target, notes that Seagate’s CFO expects December quarter EPS and revenue improvement quarter over quarter and notes that profitability remains a focus.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on STX:
- Seagate says working with cloud partner to get qualification into cloud segment
- Seagate sees Q1 adjusted EPS at high end of $1.05-$1.40 view, consensus $1.44
- Seagate call volume above normal and directionally bullish
- Robert Bruggeworth Ends Tenure on Seagate Board
- Early notable gainers among liquid option names on July 24th