Seagate Technology (NASDAQ:STX) Posts Earnings Results, Beats Expectations By $0.28 EPS

Seagate Technology (NASDAQ:STX) announced its quarterly earnings results on Tuesday. The data storage provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28, Briefing.com reports. Seagate Technology had a negative return on equity of 30.18% and a net margin of 11.34%. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the company earned ($0.34) earnings per share. The firm’s revenue was up 49.1% on a year-over-year basis. Seagate Technology updated its Q2 guidance to $1.65-2.05 EPS and its Q2 2025 guidance to 1.650-2.050 EPS.

Seagate Technology Trading Up 0.4 %

Shares of NASDAQ STX traded up $0.46 during mid-day trading on Thursday, reaching $103.98. The company had a trading volume of 2,746,266 shares, compared to its average volume of 2,518,739. The stock has a market cap of $21.83 billion, a price-to-earnings ratio of -80.60 and a beta of 1.04. Seagate Technology has a 52 week low of $64.12 and a 52 week high of $115.32. The business’s 50-day moving average is $105.13 and its 200-day moving average is $99.58.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.77%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology’s dividend payout ratio (DPR) is -217.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on STX shares. Rosenblatt Securities increased their target price on Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group increased their price objective on shares of Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald restated a “neutral” rating and issued a $125.00 target price on shares of Seagate Technology in a report on Wednesday. UBS Group upped their target price on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Barclays lifted their price target on Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $118.83.

Insider Activity at Seagate Technology

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the transaction, the director now directly owns 3,034 shares in the company, valued at $291,567.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP John Christopher Morris sold 1,131 shares of the company’s 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 sale, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at $804,672.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the transaction, the director now directly owns 3,034 shares in the company, valued at $291,567.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 218,398 shares of company stock worth $23,238,106 in the last 90 days. 0.89% of the stock is owned by corporate insiders.

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.