Seagate Technology (NASDAQ:STX) Updates Q2 Earnings Guidance

Seagate Technology (NASDAQ:STX) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $1.65-2.05 for the period, compared to the consensus earnings per share estimate of $1.74. The company issued revenue guidance of $2.15-2.45 billion, compared to the consensus revenue estimate of $2.29 billion. Seagate Technology also updated its Q2 2025 guidance to 1.650-2.050 EPS.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Loop Capital lifted their price objective on shares of Seagate Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Morgan Stanley boosted their price target on shares of Seagate Technology from $115.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Robert W. Baird boosted their price target on shares of Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Benchmark reissued a “hold” rating on shares of Seagate Technology in a research report on Wednesday. Finally, Barclays boosted their price target on shares of Seagate Technology from $80.00 to $95.00 and gave the company 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 issued a buy rating to the stock. According to MarketBeat.com, Seagate Technology currently has an average rating of “Hold” and an average target price of $118.83.

Seagate Technology Stock Performance

NASDAQ STX opened at $103.98 on Friday. The firm has a market cap of $21.83 billion, a PE ratio of -80.60 and a beta of 1.04. Seagate Technology has a one year low of $64.12 and a one year high of $115.32. The firm’s fifty day moving average is $105.13 and its two-hundred day moving average is $99.58.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 30.18%. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the business posted ($0.34) earnings per share. The business’s revenue was up 49.1% compared to the same quarter last year. Research analysts predict that Seagate Technology will post 7.09 earnings per share for the current year.

Seagate Technology Increases Dividend

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

Insider Transactions at Seagate Technology

In other news, CFO Gianluca Romano sold 25,760 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $94.54, for a total transaction of $2,435,350.40. Following the transaction, the chief financial officer now directly owns 52,620 shares in the company, valued at $4,974,694.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Seagate Technology news, CFO Gianluca Romano sold 25,760 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $94.54, for a total transaction of $2,435,350.40. Following the transaction, the chief financial officer now directly owns 52,620 shares in the company, valued at approximately $4,974,694.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total transaction of $72,075.00. Following the transaction, the director now owns 3,034 shares in the company, valued at $291,567.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 218,398 shares of company stock worth $23,238,106 over the last ninety days. 0.89% of the stock is currently owned by company insiders.

About Seagate Technology

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.