After the bell, shares gained 1.7% to $54.40.
The storage hardware company reported net income of $1.34 a share over the three months to March, 9 cents higher than analysts surveyed by Thomson Reuters had forecast.Revenue of $3.4 billion slipped 3.7% year over year to $3.4 billion. Sales fell shy of expectations of $3.42 billion. TheStreet Ratings team rates SEAGATE TECHNOLOGY PLC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation: "We rate SEAGATE TECHNOLOGY PLC (STX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, good cash flow from operations and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
- You can view the full analysis from the report here: STX Ratings Report
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts