Seagate Technology (NASDAQ:STX – Get Free Report) announced its quarterly earnings data on Tuesday. The data storage provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.28, Briefing.com reports. Seagate Technology had a negative return on equity of 30.18% and a net margin of 11.34%. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the company earned ($0.34) EPS. Seagate Technology’s revenue for the quarter 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 Trading Down 8.1 %
Shares of Seagate Technology stock opened at $103.52 on Thursday. The business has a 50-day moving average price of $105.04 and a two-hundred day moving average price of $99.55. Seagate Technology has a 1-year low of $64.12 and a 1-year high of $115.32. The company has a market cap of $21.74 billion, a P/E ratio of -80.25 and a beta of 1.04.
Seagate Technology Increases Dividend
The company 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 is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 2.78%. Seagate Technology’s payout ratio is presently -217.05%.
Insider Activity
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. UBS Group raised their price objective on Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Citigroup raised their price target on Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday. Barclays upped their price target on shares of Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Finally, The Goldman Sachs Group upped their target price on Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Seagate Technology presently has an average rating of “Hold” and an average price target of $118.83.
View Our Latest Analysis on STX
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.
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