Wedbush Predicts Reduced Earnings for Seagate Technology

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

Several other analysts also recently issued reports on the stock. Benchmark raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Wednesday. Bank of America boosted their price objective on shares of Seagate Technology from $124.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday. Rosenblatt Securities boosted their price objective on shares of Seagate Technology from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Summit Insights raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley cut their price objective on shares of Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $122.56.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $108.42 on Wednesday. Seagate Technology has a 12-month low of $82.31 and a 12-month high of $115.32. The company has a market capitalization of $22.93 billion, a PE ratio of 19.82 and a beta of 1.06. The firm’s 50-day moving average is $94.55 and its two-hundred day moving average is $100.33.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.28. Seagate Technology had a net margin of 14.67% and a negative return on equity of 58.59%. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm earned ($0.34) earnings per share. The company’s revenue for the quarter was up 49.1% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its stake in Seagate Technology by 3.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock valued at $281,000 after acquiring an additional 89 shares during the last quarter. Affinity Capital Advisors LLC boosted its stake in Seagate Technology by 1.5% during the 3rd quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider’s stock valued at $725,000 after acquiring an additional 100 shares during the last quarter. Berkshire Bank boosted its stake in Seagate Technology by 2.6% during the 4th quarter. Berkshire Bank now owns 4,118 shares of the data storage provider’s stock valued at $355,000 after acquiring an additional 103 shares during the last quarter. My Legacy Advisors LLC boosted its stake in Seagate Technology by 3.9% during the 4th quarter. My Legacy Advisors LLC now owns 3,113 shares of the data storage provider’s stock valued at $294,000 after acquiring an additional 118 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its stake in Seagate Technology by 3.7% during the 4th quarter. AdvisorNet Financial Inc now owns 3,377 shares of the data storage provider’s stock valued at $291,000 after acquiring an additional 122 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $99.53, for a total value of $1,990,600.00. Following the completion of the transaction, the chief executive officer now directly owns 642,497 shares in the company, valued at approximately $63,947,726.41. This represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kian Fatt Chong sold 9,182 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $105.50, for a total transaction of $968,701.00. The disclosure for this sale can be found here. Insiders sold 50,073 shares of company stock valued at $5,106,149 over the last 90 days. Corporate insiders own 0.81% of the company’s stock.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s payout ratio is currently 52.65%.

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.