Seagate Technology Stock Intrinsic Value – SEAGATE TECHNOLOGY Reports Decreased Revenue and Net Income for FY 2023 Fourth Quarter
August 18, 2023
🌥️Earnings Overview
For the fourth quarter of fiscal year 2023, SEAGATE TECHNOLOGY ($NASDAQ:STX)’s total revenue decreased by 39.0% year-over-year to USD 1602.0 million. Net income for the quarter was reported at USD -92.0 million, a decline from the prior year’s quarter which had a reported net income of USD 276.0 million.
Market Price
On Wednesday, SEAGATE TECHNOLOGY reported decreased revenue and net income for its fourth quarter of Fiscal Year 2023. The company’s stock opened at $58.1 and closed at $58.0, 0.5% lower than the previous closing price of $58.2. The decrease in revenue and net income can be attributed to the impact of the ongoing pandemic on the tech sector, as well as the unanticipated slowdown in growth in the consumer electronics market. SEAGATE TECHNOLOGY has had to adjust its strategy in response, cutting costs, reducing operations, and focusing on creating more efficient products to stay afloat in the current economic climate.
With its newly streamlined operations and technology-driven products, the company is confident that it can continue to meet customer needs while maintaining a healthy balance sheet. Although the future of SEAGATE TECHNOLOGY is uncertain, the company remains resilient and is poised to make a comeback. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Seagate Technology. More…
| Total Revenues | Net Income | Net Margin |
| 7.38k | -529 | -5.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Seagate Technology. More…
| Operations | Investing | Financing |
| 942 | 217 | -988 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Seagate Technology. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 7.56k | 8.76k | -4.85 |
Key Ratios Snapshot
Some of the financial key ratios for Seagate Technology are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -11.1% | -64.9% | -2.5% |
| FCF Margin | ROE | ROA |
| 8.5% | 11.4% | -1.5% |
Analysis – Seagate Technology Stock Intrinsic Value
At GoodWhale, our mission is to provide our customers with insights into the financials of publicly traded companies. Recently, we have done an in-depth analysis of SEAGATE TECHNOLOGY‘s financials and are pleased to share our insights. Our proprietary Valuation Line has calculated the intrinsic value of SEAGATE TECHNOLOGY’s share to be around $74.8. However, currently the stock is trading at merely $58.0, which is a 22.5% discount on the intrinsic value. This presents a great opportunity for investors to purchase the stock at a discounted price. We hope our insights into SEAGATE TECHNOLOGY’s financials can help investors make informed decisions about their investments. We will continue to monitor the stock and provide timely updates on its performance. More…
Peers
Its major competitors include Western Digital Corp, Micron Technology Inc, and NVIDIA Corp. All of these companies are committed to providing innovative solutions that enable users to manage and access their data with ease.
– Western Digital Corp ($NASDAQ:WDC)
Western Digital Corp is a leading storage technology company that designs, manufactures, and sells data storage solutions. The company has a market cap of 11.34B as of 2022, reflecting its strong financial performance and continued success in the storage industry. Western Digital’s Return on Equity (ROE) is 9.22%, which is higher than the industry average. This demonstrates the company’s efficient use of shareholder funds, as well as its ability to generate profits from its operations. Western Digital has a wide range of products and services, from hard drives to solid-state drives, which are used in everyday devices such as computers, gaming consoles, and smartphones.
– Micron Technology Inc ($NASDAQ:MU)
Micron Technology Inc is a leading global provider of semiconductor memory solutions, systems, and technologies. The company is headquartered in Boise, Idaho and has operations in the United States, Asia, and Europe. As of 2022, Micron Technology Inc had a market capitalization of 59.86B and a Return on Equity (ROE) of 12.3%. The market cap of the company is an indication of its size and the return on equity is an indication of how well it is managing its assets and generating profit. The company’s strong ROE indicates that it is effectively utilizing its resources and creating value for shareholders.
– NVIDIA Corp ($NASDAQ:NVDA)
NVIDIA Corporation is a leading global technology company that designs, manufactures, and markets graphics processing units (GPUs) for gaming, professional visualization, data centers, and artificial intelligence (AI). As of 2022, NVIDIA has a market cap of 422.36 billion dollars, making it one of the largest technology companies in the world. The company has also achieved an impressive Return on Equity (ROE) of 15.77%, indicating that it has proven to be a profitable investment. NVIDIA’s success can be attributed to its focus on developing innovative products, as well as its ability to adapt to and meet the needs of a rapidly evolving technology market.
Summary
Investors should take note of SEAGATE TECHNOLOGY‘s fourth quarter fiscal year 2023 performance, which saw total revenue of USD 1602.0 million, a decrease of 39.0% year-over-year, and reported net income of USD -92.0 million compared to a positive USD 276.0 million in the same quarter of the prior year. As such, investors should closely evaluate the factors affecting SEAGATE TECHNOLOGY’s performance before investing.
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