Seagate Technology (NASDAQ:STX) Releases Q2 Earnings Guidance

Seagate Technology (NASDAQ:STX) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $1.65-2.05 for the period, compared to the consensus EPS 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 Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Northland Securities increased their target price on Seagate Technology from $119.00 to $142.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Cantor Fitzgerald boosted their target price on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Evercore ISI raised their price target on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday. StockNews.com upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, Barclays raised their target price 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 analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $117.61.

Seagate Technology Stock Performance

NASDAQ:STX traded down $8.80 during mid-day trading on Wednesday, reaching $103.84. The stock had a trading volume of 1,941,249 shares, compared to its average volume of 2,484,301. The stock has a market capitalization of $21.86 billion, a P/E ratio of 67.89 and a beta of 1.04. The firm has a 50 day moving average price of $104.92 and a two-hundred day moving average price of $99.52. Seagate Technology has a one year low of $64.12 and a one year high of $115.32.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The business’s quarterly revenue was up 49.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.34) EPS. Research analysts forecast that Seagate Technology will post 7.09 earnings per share for the current year.

Seagate Technology Increases Dividend

The business also recently disclosed 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. Seagate Technology’s dividend payout ratio is 181.82%.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Gianluca Romano sold 25,760 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $94.54, for a total value of $2,435,350.40. Following the completion of the sale, the chief financial officer now directly owns 52,620 shares of the company’s stock, valued at approximately $4,974,694.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated 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 sale, the chief executive officer now directly owns 654,270 shares in the company, valued at $61,148,074.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 214,298 shares of company stock valued at $22,814,576 over the last three months. 0.81% of the stock is owned by company 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.