This update reflects the impact of a change in the estimated useful lives of Seagate's capital equipment, associated with the manufacturing of the company's products, from a range of three to five years to a range of three to seven years.
Seagate says the estimated impact of this change reduces depreciation expense by approximately $25 million, or 9 cents per diluted share, in the first fiscal quarter.
Seagate shares were trading down 0.6% at $55.71 in Wednesday’s pre-market session. The stock has a 52-week high of $57.01 and a 52-week low of $35.38.
3 Reasons Why Goldman Turned Bearish On Seagate Technology
Goldman Sachs Raises PT on Seagate Technology to
See more from Benzinga
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.