|Bid||54.85 x 1000|
|Ask||55.26 x 1200|
|Day's Range||54.58 - 55.31|
|52 Week Range||35.38 - 57.20|
|Beta (3Y Monthly)||1.72|
|PE Ratio (TTM)||7.79|
|Forward Dividend & Yield||2.52 (4.59%)|
|1y Target Est||N/A|
Seagate Technology (STX) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
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Morgan Stanley said on Monday Stephen Luczo, chairman of hard-disk drive maker Seagate Technology Plc, has been named to the Wall Street bank's board of directors. Luczo has been Seagate's chairman since 2002. Previously, he was executive chairman, prior to that he served two tenures as the company's chief executive officer and chairman.
Seagate (STX) raises first-quarter fiscal 2020 earnings guidance on reduction in estimated depreciation expenses pertaining to useful life of capital equipment.
Readers hoping to buy Seagate Technology plc (NASDAQ:STX) for its dividend will need to make their move shortly, as...
Seagate Technology plc (NASDAQ: STX ) has raised its first-quarter EPS guidance from 90 cents to 99 cents versus the 91 cent estimate. This update reflects the impact of a change in the estimated useful ...
Shares of Seagate Technology PLC rose 1.4% in premarket trading Wednesday, after the data storage company raised its fiscal first-quarter profit outlook. The company now adjusted expects earnings per share, which excludes non-recurring items, of 99 cents a share, plus or minus 5%, up from previous guidance of 90 cents, plus or minus 5%. The FactSet EPS consensus is 90 cents. Seagate said the raised outlook reflects the change in the estimated useful lives of its capital equipment from a range of 3-to-5 years to a range of 3-to-7 years, as that reduces the depreciation expense estimate by about $25 million, or 9 cents a share. The stock has rallied 45.2% year to date through Tuesday, while the S&P 500 has gained 19.9%.
[Editor's note: "5 Great Dividend Stocks to Buy From the Tech Sector" was previously published in June 2019. It has since been updated to include the most relevant information available.]When most investors hunt for dividend stocks, the technology sector is often not on their shopping list. The perception is that most technology firms need and are forced to plow every extra cent back into their businesses in order to fuel growth. As a result, tech stocks are seen as a strictly capital appreciation element for a portfolio.However, this isn't true at all. Tech stocks make for amazing dividend stocks.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe reality is, that many firms in the tech sector are cash flow and profit machines. Thanks to surging revenues and high margins, mature tech firms simply mint money at this point. So much, in fact, that many have too much money sitting on their balance sheets. To rid themselves of that excess cash, many tech stocks have started paying some hefty dividends. And they have been growing those dividends by leaps and bounds too.In the end, when looking for dividend stocks, the technology sector should be the first stop for portfolios rather than an afterthought. But which tech stocks have what it takes to be considered good dividend stocks as well? * 7 Momentum Stocks to Buy On the Dip Here are five that are worthy of consideration. Cisco (CSCO)Source: Shutterstock Dividend Yield: 2.8%No list of dividend stocks in the tech sector can be written without the firm that started the modern trend of payouts from tech. We're talking about Cisco (NASDAQ:CSCO). CSCO started paying a token dividend back in 2011 and hasn't looked back, growing that payout by more than 480%. And it's easy to see why Cisco has become such a dividend stalwart.Sensing a slowdown in networking, router and physical equipment sales, CSCO started to pivot into more software and services. Cloud computing, cybersecurity and other such products have quickly become big-time money makers for the firm. Perhaps, more importantly, these sales come with higher margins, reoccurrence and the ability to add value/upsell networking transactions. "We just built you this massive network for your cloud operations. Would you like us to secure it as well?"Because of this, CSCO has become a cash flow giant.In fiscal Q3 alone, the firm managed to generate a 16% jump in operating cash flows once adjusting to overseas taxes paid for the Tax Cuts and Jobs Act. Meanwhile, cash on CSCO's balance sheet has swelled to more than $34.6 billion.With sales of software/services continuing to rise, CSCO should be able to keep bringing in the cash for the long haul. Even better is that the growth in data centers and 5G networking is once again boosting equipment sales.At the end of the day, Cisco is one of the best dividend stocks to buy -- tech sector or not. Seagate Technology (STX)Source: Shutterstock Dividend Yield: 4.5%Like previously mentioned Cisco, Seagate Technology (NASDAQ:STX) may seem like a relic from the dot-com days. However, STX has managed to see plenty of new life in recent years. The key is data center demand is making one heck of a dividend stock.For many years after the dot-com bust, STX struggled. The rise of mobile and tablet computing crimped PC sales. At the same time, flash-based solid-state drives (SSD) hit Seagate's platter-based hard disk drives (HDDs) right in the wallet. SSDs are faster, smaller, and more power-efficient. Manufacturers liked these facts and started favoring them in PCS and other devices. As a result, STX stocks stagnated and was looking like a lost cause.That is until cloud computing and data center demand started to take over.It turns out, those building out networks and data centers prefer capacity over speed. That makes HHDs much better suited for this application. Since Seagate dove into SSD production -- like rival Western Digital (NASDAQ:WDC) -- it's been able to reap the full benefits of this expansion. In fiscal 2019, STX managed to produce $1.8 billion in cash flow from operations and $1.8 billion of free cash flows from higher drive demand. * 7 Momentum Stocks to Buy On the Dip And naturally, Seagate has been rewarding investors with that extra cash. Today, shares yield a tech-sector high 4.5%. Apple (AAPL)Source: Yuanbin Du Via FlickrDividend Yield: 1.4%$95 billion.That's a big number. It also happens to be the amount of cash Apple (NASDAQ:AAPL) has on its balance sheet. This makes the consumer tech company one of the most cash-rich firms on the planet. That fact alone could make it a big buy. But the fact that Apple has quickly become one of the leading dividend stocks and continues to increase its buyback programs makes it a big buy right now.The key is that Apple has been able to use its vast cadre of devices to sell apps, music, movies and games. This helps Apple produce plenty of cash flows. Meanwhile, its shift into various services and other add-ons for its customers have only enhanced its cash flows further. So, even though AAPL has been handing out plenty of cash to investors, its over cash balance continues to hover over that $200 billion mark. Last year, Apple spent more than $74 billion on buybacks and raised its dividend by roughly 5.5%.With new devices hitting the markets and a focus on building out content for those devices, Apple should have no problem growing that cash balance far into the future. That should make dividend investors happy. And while there are some risks with revenue slowdowns and Chinese trade, that massive cash pile provides such a huge cushion to keep the dividend grow going.With that, Apple is still one of the best dividend stocks to buy. Equinix (EQIX)Source: Shutterstock Dividend Yield: 1.8%One of the biggest trends in tech continues to be the growth of cloud computing and mobile access. Any time you use an app to go shopping or check your bank balance, you're tapping into a data center far away. It turns out that's a very good business to be in. Just ask Equinix (NASDAQ:EQIX).EQIX is the world's largest owners of these data centers -- with more than 200 under its umbrella. The key is that EQIX doesn't actually own or really operate the centers, it's a real estate investment trust (REITs). That is, it owns the specialized buildings and rents space inside to firms to build their required computing needs. It's essentially an apartment building owner for computers.Given the continued surge in data center demand from e-commerce, cloud computing, and mobile operations, EQIX has been sitting pretty over the last few years. In Q2, its net income jumped 22% versus Q1. This continues the REIT's string of strong performance.The data center giant has paid plenty of special stock dividends to its shareholders and has managed to grow its cash payout by 45% since 2014. * 7 Momentum Stocks to Buy On the Dip With continued demand for data centers assured, EQIX is the best dividend stock to play tech's backbone. Shares currently yield 1.8%. First Trust NASDAQ Technology Dividend ETF (TDIV)Source: Shutterstock Dividend Yield: 2.4%Considering that this list didn't even touch such amazing tech dividend stocks like Oracle (NASDAQ:ORCL), Microsoft (NASDAQ:MSFT) or even Texas Instruments (NYSE:TXN), one approach could be to think broad. There are plenty of tech ETFs on the market, but only the First Trust NASDAQ Technology Dividend ETF (NYSEArca:TDIV) tackles the sector with a dividend approach.The $1 billion fund tracks an index that screens for tech stocks that have paid a regular or common dividend within the past 12 months and haven't cut the payout either. This provides exposure to all the top names in tech that pay dividends -- currently at 92 different stocks. This includes all the names on this list as well. That focus also throws off a surprising amount of income as well. Today, TDIV has an SEC 30-day yield of nearly 3.17%. That's' better than the S&P 500 and current yields on Treasury bonds.And as a total return component, TDIV has been top notch. Since its inception in 2012, the ETF has roughly doubled in share price and managed to produce an average annual return of around 12%. That's around the same as the S&P 500. The key is that TDIV has been less volatile than the broader index. Less volatile than all the tech stocks in the broader index as well. The secret is in the power of the dividends.All in all, for investors looking to score some hefty dividends from tech and take advantage of the sector's growth, TDIV could be the best way to capture those benefits.Disclosure: At the time of writing, Aaron Levitt did not have a position in any stock mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Momentum Stocks to Buy On the Dip * 7 Dow Titans Breaking Higher * 5 Growth Stocks to Sell as Rates Move Higher The post 5 Great Dividend Stocks to Buy From the Tech Sector appeared first on InvestorPlace.
Most of the time analysts issue bullish calls on stocks. So when an analyst publishes a Hold rating, or even more rarely a Sell rating, it’s time to take note. Here are three stocks with a very bearish outlook from Goldman Sachs right now. According to the firm, these 3 stocks all deserve the most worrying ‘underperform’ rating based on their outlook for the coming months. Here we take a closer look at why Goldman Sachs is advising against these three stocks, and whether or not the rest of the Street agrees. Let’s dive in now: Seagate Technology PLCWith the HDD (hard disk drives) market in secular decline, it’s not surprising that Goldman Sachs analyst Mark Delaney remains unconvinced about Seagate Tech (STX– Get Report). His Sell rating comes with a $37 price target- suggesting prices could plummet 34% in the coming months. Indeed, the data storage company has already rallied 46% year-to-date- and for Delaney that’s a key reason for caution going forward. "We believe HDDs remain a cyclical industry, and one facing secular challenges in many parts of the market from the growth of SSDs (solid-state drives) that are based on NAND flash," Delaney told investors when he first downgraded the stock. He also prefers larger storage rival Western Digital (WDC)- which has a more neutral Hold rating from the Goldman analyst. Unlike STX, WDC also has large exposure to NAND flash, thanks to its 2016 SanDisk acquisition.Meanwhile Barclays analyst Tim Long also recently initiated STX with a Sell rating- and an even more bearish price target of $32. He warns that top-line pressure and a possible increase in research and development "could disrupt the capital return to shareholders." Overall STX scores a Hold rating from the Street based on all the ratings published over the last three months. The average analyst price target stands at $47 (16% downside potential). Gilead Sciences IncDrugs giant Gilead (GILD– Get Report) received the thumbs down from Goldman Sachs earlier this year. “We are downgrading GILD to Sell from Neutral and lowering our price target to $60 from $70 which represents -10% downside vs 17% avg upside for the rest of our coverage,” Terence Flynn wrote. Indeed, with Gilead now trading at $66 the analyst’s new $60 price target is one of the Street’s lowest price targets and suggests considerable downside risk lies ahead. With the loss of the blockbuster HCV franchise and near total market dominance in HIV (80% of US patients on anti-retrovirals are on a Gilead product), Gilead is in a period of change as management searches for new avenues to generate growth. "GILD currently trades at ~10x NTM P/E and barring another "Pharmasset" and/or internal pipeline success we find it difficult to see the stock's multiple expanding" says Flynn.According to the analyst, GILD has a “very limited” mid-to-late stage pipeline of drugs under development. The analyst told investors: “[T]he company has a new CEO and we assume that rebuilding the pipeline and improving R&D productivity across the organization will be a key area of focus… This can clearly take time and we anticipate there will be tremendous competition for innovative/growth assets.”However, the rest of the Street is notably more optimistic. Not only are we looking at a Strong Buy analyst consensus, but significant upside potential of 28% according to the average analyst price target. “We look towards the expansion of the pipeline via M&A (i.e., Galapagos so far) to drive long-term growth” writes Maxim analyst Jason McCarthy. He has a buy rating on GILD with an $84 price target. PVH CorpOne of the world’s largest apparel companies, PVH (PVH– Get Report) owns both Tommy Hilfiger and Calvin Klein. However that isn’t enough to win over Goldman Sachs analyst Alexandra Walvis. On August 30 she slashed her price target from $82 to $73 while maintaining a Sell rating. From current levels her price target indicates downside potential of almost 20%.In fact the analyst has recently issued Sell ratings on a number of apparel companies, including Ralph Lauren (RL); Levi Strauss (LEVI) and Tapestry Inc (TPR). So what's driving all these bearish calls?“The combination of persistently tough first-half retail trends and an optimistic spring ordering season has driven inventory overhangs at several multibrand retailers," Walvis revealed. "These retailers are thus tightening up ordering as we head into the critical back-to-school and holiday season. We thus see incremental sell-in risk for apparel brands, particularly those with high exposure to department stores."In particular, the Goldman analyst warned of potentially fading growth at PVH's Tommy Hilfiger brand thanks to its dependence on outlet stores, as well as challenges over at Calvin Klein. “While brands that have been investing in building strong direct-to-consumer omnichannel commerce are likely to be more insulated, we take a more cautious view on nonathletic apparel brands whose direct-to-consumer businesses are skewed towards outlet stores, particularly given challenged traffic trends in these locations,” she said. And a note of caution: Apple Inc Although Goldman Sachs has a Hold rating on Apple (AAPL– Get Report) (rather than Sell) it is worth nothing that analyst Rod Hall just made a notably bearish move on the stock. On September 13 he significantly cut his AAPL price target from $187 to $165 (24% downside potential). He blamed Apple’s accounting practices for the move: “We believe that Apple plans to account for its 1-year trial for TV+ as a ~$60 discount to a combined hardware and services bundle,” wrote Hall.“Effectively, Apple’s method of accounting moves revenue from hardware to Services even though customers do not perceive themselves to be paying for TV+. Though this might appear convenient for Apple’s services revenue line it is equally inconvenient for both apparent hardware ASPs and margins in high sales quarters like the upcoming FQ1′20 to December,” the analyst added.Discover Wall Street’s most loved stocks with the Top Analysts’ Stocks tool
CEO of Seagate Technology Plc (30-Year Financial, Insider Trades) William D Mosley (insider trades) sold 90,000 shares of STX on 09/06/2019 at an average price of $54.31 a share. Continue reading...
If you want to know who really controls Seagate Technology plc (NASDAQ:STX), then you'll have to look at the makeup of...
Canopy Growth (NYSE:CGC) is having growing pains. Canada's largest cannabis producer posted a $1.28 billion CAN loss (~$960 million) in their fiscal 2020 first quarter. The more disturbing issue for investors in CGC stock was a 4% loss in net revenue from their previous quarter. Analysts were expecting a 17% increase.Source: Shutterstock Whenever a company misses so badly on earnings, it's natural for investors to ask what happened. In the case of Canopy, the company clearly misjudged the market for their cannabis oil and softgel products. Was Canopy doing a little bit of channel stuffing? I'll leave that for others to decide. But it's clear that Canopy made a miscalculation of the demand for these products.Another cause for concern is that the company is still looking for a new CEO. After disappointing fourth quarter fiscal 2019 results, Canopy's board, with a push from big stakeholder Constellation Brands (NYSE:STX), showed CGC founder and former CEO Bruce Linton the door. That vacuum in leadership is more disturbing when investors digest the fact that interim CEO Mark Zekulin is reporting he will leave the company once a suitable replacement is found.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Can Results Match the Optimistic Rhetoric?Fundamentals matter. Investors are punishing CGC stock and demanding to see at least a path to future profits. On this score, Zekulin is making big promises on his way out the door. In the conference call to report their disappointing earnings, Zekulin reaffirmed that CGC will reach a $1 billion CAN annualized revenue run rate by the end of its current fiscal year. More importantly, Zekulin said the company will deliver a positive adjusted EBITDA on a quarterly basis at some point in their 2021 fiscal year. This would be one step in Canopy ultimately achieving elusive profitability within the next three to five years. Canopy is Leading a Viable Emerging MarketDespite all the negative news, Canopy is a leader in a viable emerging market. For that reason, I believe the current trouble for CGC stock is merely "growing pains." Cannabis continues to change the way many Americans are thinking about conventional medicine. For evidence of this, investors need to look no further than Florida. The legal cannabis market is growing faster there than almost any other state in the country. From April 2018 to April 2019, the number of licensed dispensaries nearly tripled. And the number of registered patients has almost quadrupled since the beginning of 2018. * 10 Marijuana Stocks That Could See 100% Gains, If Not More Currently, over 23,000 scientific papers espouse the potential medicinal benefits of marijuana. The science behind these reports raises awareness of the medicinal effect of the cannabidiol (or CBD) part of the marijuana plant. CBD is very different from THC -- the primary psychoactive ingredient in marijuana.Click to EnlargeNot surprisingly, the CBD market is now one of the most rapidly expanding in the United States. Canopy is well positioned to grab a foothold in this market due to its relationship with Constellation Brands. Constellation has paid billions of dollars for a 38% stake in Canopy, and has warrants that will give it majority control. * 7 'Boring' Stocks With Exciting Prospects Even without full legalization, some analysts project the marijuana industry to grow to $50 billion in five years. And if and when full legalization occurs, cannabis may become a $100 billion or even a $1 trillion dollar industry. Canopy's Groundwork for Future GrowthThis brings me to a key point about the stages of industry growth, and Canopy's role as one of the largest players in the industry. Currently the cannabis industry is just starting to enter the consolidation phase - - a period highlighted by mergers and acquisitions. Canopy is the largest producer in terms of market cap and it makes sense that they will be an active participant in acquisitions, such as its recent deal to acquire U.S-based cannabis operator Acreage Holdings. But it will take some time for these acquisitions to begin to show up on the company's bottom line. Buying or Selling CGC Stock is a Matter of PerspectiveUltimately, how you feel about CGC stock will come down to how you feel about the emerging cannabis sector. This was a sentiment echoed by my InvestorPlace colleague Tim Biggam in a recent article about Canopy.Do you believe, as I do, that full legalization of marijuana for both recreational and medicinal purposes is a question of when and not if? If so, there are many reasons to buy and hold CGC stock. Or do you believe the United States has significant obstacles to legalization? Or maybe you're opposed to the industry for any number of reasons.If either of those statements describe you than Canopy Growth is not the stock for you.As of this writing, Chris Markoch did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Tech Industry Dividend Stocks for Growth and Income * 7 Stocks the Insiders Are Buying on Sale * 7 of the Worst Stocks on Wall Street The post Will Canopy Growthas Growing Pains Lead to Long-Term Gains? appeared first on InvestorPlace.