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

Seagate Technology (NASDAQ:STX) announced its quarterly earnings data on Tuesday. The data storage provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28, Briefing.com reports. 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 analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the company earned ($0.34) earnings per share. The business’s revenue was up 49.1% compared to the same quarter last year. 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 Stock Up 0.4 %

STX traded up $0.46 during trading on Thursday, hitting $103.98. The company’s stock had a trading volume of 2,746,266 shares, compared to its average volume of 2,518,739. The business’s 50 day simple moving average is $105.13 and its 200-day simple moving average is $99.58. 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.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors 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 yield of 2.77%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology’s payout ratio is -217.05%.

Insider Activity

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 stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the sale, the director now owns 3,034 shares in the company, valued at $291,567.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the transaction, the chief executive officer now owns 654,270 shares in the company, valued at approximately $61,148,074.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the sale, the director now owns 3,034 shares of the company’s stock, valued at $291,567.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 218,398 shares of company stock valued at $23,238,106 in the last 90 days. Company insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $150.00 price objective on shares of Seagate Technology in a research report on Wednesday. Robert W. Baird raised their price target on Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Citigroup upped their price target on shares of Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company raised their price objective on shares of Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Finally, Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $118.83.

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.