Wedbush Research Analysts Reduce Earnings Estimates for STX

Seagate Technology Holdings plc (NASDAQ:STX) – Stock analysts at Wedbush lowered their FY2026 EPS estimates for shares of Seagate Technology in a report issued on Tuesday, January 21st. Wedbush analyst M. Bryson now anticipates that the data storage provider will post earnings per share of $12.87 for the year, down from their previous estimate of $13.50. Wedbush has a “Outperform” rating and a $150.00 price objective on the stock. The consensus estimate for Seagate Technology’s current full-year earnings is $7.18 per share.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. The firm 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 quarter in the prior year, the firm earned ($0.34) EPS.

Several other research analysts also recently weighed in on STX. Morgan Stanley cut their price target on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a report on Tuesday. Mizuho decreased their price target on Seagate Technology from $130.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. StockNews.com lowered shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Evercore ISI upped their price target on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Benchmark reiterated a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.71.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $101.25 on Wednesday. The company has a market cap of $21.42 billion, a PE ratio of 26.44 and a beta of 1.06. The company has a 50-day simple moving average of $94.32 and a 200-day simple moving average of $100.28. Seagate Technology has a 12 month low of $82.31 and a 12 month high of $115.32.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC acquired a new position in shares of Seagate Technology during the third quarter valued at $26,000. Quarry LP acquired a new position in Seagate Technology during the 2nd quarter valued at about $27,000. Kayne Anderson Rudnick Investment Management LLC grew its position in Seagate Technology by 2,407.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 337 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Seagate Technology by 177.9% in the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after purchasing an additional 258 shares during the period. Finally, JFS Wealth Advisors LLC boosted its position in shares of Seagate Technology by 232.5% during the third quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after buying an additional 293 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Insider Activity

In other Seagate Technology news, 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 value of $76,365.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jay L. Geldmacher sold 4,100 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $103.30, for a total value of $423,530.00. Following the transaction, the director now directly owns 2,852 shares of the company’s stock, valued at $294,611.60. This trade represents a 58.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,173 shares of company stock worth $5,529,679. 0.81% of the stock is currently owned by corporate 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.