Seagate Technology (STX) Set to Announce Earnings on Tuesday

Seagate Technology (NASDAQ:STX) will be posting its quarterly earnings results after the market closes on Tuesday, October 22nd. Analysts expect Seagate Technology to post earnings of $1.26 per share for the quarter. Seagate Technology has set its Q1 guidance at $1.40 EPS and its Q1 2025 guidance at 1.200-1.600 EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.29. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.29) EPS. On average, analysts expect Seagate Technology to post $7 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Seagate Technology Stock Down 0.3 %

NASDAQ STX opened at $112.12 on Monday. The company has a market capitalization of $23.54 billion, a P/E ratio of -86.91 and a beta of 1.04. Seagate Technology has a 12-month low of $64.12 and a 12-month high of $115.32. The firm has a 50-day moving average price of $104.29 and a two-hundred day moving average price of $99.21.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 23rd were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Monday, September 23rd. Seagate Technology’s dividend payout ratio is currently -217.05%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on STX. Northland Securities upped their price target on shares of Seagate Technology from $119.00 to $142.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Thursday. Barclays upped their price objective on shares of Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Susquehanna upped their price objective on shares of Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research report on Wednesday, July 24th. Finally, Morgan Stanley upped their price objective on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $115.94.

Insider Transactions at Seagate Technology

In other news, CEO William D. Mosley sold 141,785 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the completion of the sale, the chief executive officer now directly owns 668,616 shares in the company, valued at $73,668,110.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO William D. Mosley sold 141,785 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the completion of the sale, the chief executive officer now directly owns 668,616 shares in the company, valued at $73,668,110.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total transaction of $72,075.00. Following the sale, the director now owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 223,284 shares of company stock worth $23,800,887 over the last three months. 0.89% of the stock is owned by company insiders.

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.