Seagate Technology PLC (NASDAQ:STX) Falls On Weak Results And Guidance – (STX, OCZ, EMC, WDC)
Seagate Technology PLC (NASDAQ:STX) shares faced a fall in last session after the Cupertino, Calif.-based company provided first-quarter sales that failed to meet analysts’ forecast on slowing sales of personal computers. The stock’s most recent decline left monthly gain of the hard drive maker at 21.40% and year-to-date performance at 83%.
Seagate blamed slowing economic growth and unsteady sales of PCs as more consumers now prefer tablets and smartphones. The company’s weak forecast follows an upbeat fiscal 2013 outlook from close competitor Western Digital Corp. (NASDAQ:WDC), which is banking on strong sales to big businesses. For the first quarter, STX predicts sales of nearly $4 billion, missing analysts’ projections of $4.62 billion, according to Thomson Reuters I/B/E/S. Results for the April-through-June period released late Monday also missed Wall Street predictions.
Seagate Technology PLC (NASDAQ:STX) hit 14.78% as their profit margin for the last twelve months and had an operating margin of 16.83%. Evaluating management effectiveness, return on equity was maintained at 63.89% in last twelve months. Return on assets for Intel was 21.46%. In the previous 52 weeks the price has traded between $9.05 – $32.55. The last session’s volume of 20.23 million shares competed with the average daily trading volume of 13.00 million shares.
Within the industry, OCZ Technology Group Inc (NASDAQ:OCZ) had a -3.66% profit margin in the last twelve months and an operating margin at -5.06%. Return on equity for this company was -7.77% in the last twelve months. Return on assets was -5.42%. In the last year the stock has moved within a range of $4.14 – $10.05. The last session’s volume of 19.46 million shares competed with the average daily trading volume of 3.90 million shares.
EMC Corporation (NYSE:EMC) recorded a profit margin of 13.50% for the prior 12 months and an operating margin at 18.23%. Return on equity for this stock was 13.66% while return on assets was 8.41%.
Within the industry, Western Digital Corp (NASDAQ:WDC) had a 12.92% profit margin in the last twelve months and an operating margin at 14.19%. Return on equity for this company was 24.50% in the last twelve months. Return on assets was 14.44%.