Seagate Technology (STX) to Release Earnings on Tuesday

Seagate Technology (NASDAQ:STX) is anticipated to release its earnings data after the market closes on Tuesday, January 21st. Analysts expect Seagate Technology to post earnings of $1.87 per share and revenue of $2,317,857.34 billion for the quarter. Seagate Technology has set its Q2 guidance at $1.65-2.05 EPS and its Q2 2025 guidance at 1.650-2.050 EPS.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. Seagate Technology’s quarterly revenue was up 49.1% on a year-over-year basis. During the same period last year, the firm earned ($0.34) earnings per share. On average, analysts expect Seagate Technology to post $7 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Seagate Technology Stock Performance

Shares of NASDAQ:STX traded up $3.11 on Wednesday, hitting $94.34. 3,853,602 shares of the company’s stock were exchanged, compared to its average volume of 2,721,192. Seagate Technology has a 1-year low of $82.31 and a 1-year high of $115.32. The company has a market capitalization of $19.96 billion, a PE ratio of 24.63 and a beta of 1.06. The firm’s 50-day moving average is $94.75 and its 200 day moving average is $100.40.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Sunday, December 15th were paid a dividend of $0.72 per share. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, December 13th. This represents a $2.88 annualized dividend and a yield of 3.05%. Seagate Technology’s payout ratio is presently 75.20%.

Insider Activity at Seagate Technology

In other news, SVP John Christopher Morris sold 1,131 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total value of $126,558.90. Following the completion of the transaction, the senior vice president now owns 7,191 shares in the company, valued at $804,672.90. This trade represents a 13.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the sale, the director now owns 6,555 shares of the company’s stock, valued at $667,430.10. This trade represents a 10.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,304 shares of company stock worth $5,656,238 over the last 90 days. Company insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

STX has been the subject of several recent analyst reports. StockNews.com downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Tuesday. Evercore ISI boosted their price target on shares of Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group dropped their price objective on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Cantor Fitzgerald reiterated a “neutral” rating and set a $125.00 target price on shares of Seagate Technology in a research report on Wednesday, October 23rd. Finally, Mizuho decreased their target price on Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and a consensus price target of $121.53.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.