Seagate Technology (NASDAQ:STX) Releases Q2 Earnings Guidance

Seagate Technology (NASDAQ:STX) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.65-2.05 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on STX. The Goldman Sachs Group upped their price target on Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Morgan Stanley increased their target price on Seagate Technology from $115.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Wells Fargo & Company increased their target price on Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Rosenblatt Securities increased their target price on Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday. Finally, StockNews.com raised Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Seagate Technology presently has a consensus rating of “Hold” and a consensus price target of $118.83.

Seagate Technology Price Performance

NASDAQ STX opened at $103.98 on Friday. Seagate Technology has a 12 month low of $64.12 and a 12 month high of $115.32. The stock has a market capitalization of $21.83 billion, a P/E ratio of -80.60 and a beta of 1.04. The firm’s 50-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 data on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the business posted ($0.34) EPS. The business’s revenue for the quarter was up 49.1% compared to the same quarter last year. As a group, analysts anticipate that Seagate Technology will post 7.09 EPS for the current year.

Seagate Technology Increases Dividend

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

Insider Activity at Seagate Technology

In other Seagate Technology news, Director Jay L. Geldmacher sold 4,100 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 2,852 shares in the company, valued at $294,611.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total value of $1,869,200.00. Following the completion of the transaction, the chief executive officer now owns 654,270 shares in the company, valued at $61,148,074.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jay L. Geldmacher sold 4,100 shares of Seagate Technology stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $103.30, for a total transaction of $423,530.00. Following the sale, the director now directly owns 2,852 shares of the company’s stock, valued at approximately $294,611.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 218,398 shares of company stock worth $23,238,106. Insiders own 0.89% of the company’s stock.

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.