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

Seagate Technology (NASDAQ:STX) posted its quarterly earnings data on Tuesday. The data storage provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.30 by $0.28, Briefing.com reports. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a negative return on equity of 30.18% and a net margin of 11.34%. The firm’s revenue was up 49.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.34) EPS. 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 Performance

Shares of STX traded up $0.78 during midday trading on Friday, hitting $104.76. 612,515 shares of the stock were exchanged, compared to its average volume of 2,508,487. Seagate Technology has a 52-week low of $64.12 and a 52-week high of $115.32. The stock has a fifty day simple moving average of $105.13 and a 200 day simple moving average of $99.58. The firm has a market cap of $22.00 billion, a P/E ratio of -80.60 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. Shareholders of record on Sunday, December 15th will be given a $0.72 dividend. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a yield of 2.75%. Seagate Technology’s payout ratio is presently -217.05%.

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 141,785 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the completion of the transaction, the chief executive officer now directly owns 668,616 shares in the company, valued at $73,668,110.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Ban Seng Teh sold 4,872 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $110.00, for a total transaction of $535,920.00. Following the sale, the executive vice president now owns 9,969 shares of the company’s stock, valued at approximately $1,096,590. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William D. Mosley sold 141,785 shares of Seagate Technology stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.18, for a total value of $15,621,871.30. Following the completion of the transaction, the chief executive officer now owns 668,616 shares of the company’s stock, valued at approximately $73,668,110.88. 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 90 days, insiders have sold 218,398 shares of company stock worth $23,238,106. 0.89% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Citigroup increased their target price on shares of Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday. Wedbush reiterated an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a report on Wednesday. The Goldman Sachs Group boosted their target price on Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Wells Fargo & Company increased their price target on Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Finally, Northland Securities lifted their price objective on Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.