Seagate Technology (NASDAQ:STX) Issues Quarterly Earnings Results

Seagate Technology (NASDAQ:STX) released its earnings results on Tuesday. The data storage provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34, FiscalAI reports. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.73 billion. Seagate Technology had a negative return on equity of 297.87% and a net margin of 17.92%.

Seagate Technology Trading Up 3.8%

NASDAQ STX traded up $13.47 during trading hours on Tuesday, hitting $371.76. 6,115,473 shares of the company’s stock traded hands, compared to its average volume of 3,815,071. The business’s fifty day moving average price is $291.10 and its two-hundred day moving average price is $232.11. The firm has a market capitalization of $79.39 billion, a P/E ratio of 47.72, a P/E/G ratio of 1.04 and a beta of 1.60. Seagate Technology has a 52 week low of $63.19 and a 52 week high of $383.88.

Insider Buying and Selling

In related news, EVP Ban Seng Teh sold 6,000 shares of Seagate Technology stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $270.00, for a total transaction of $1,620,000.00. Following the transaction, the executive vice president directly owned 12,041 shares in the company, valued at approximately $3,251,070. The trade was a 33.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gianluca Romano sold 54,021 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $285.16, for a total value of $15,404,628.36. Following the completion of the sale, the chief financial officer owned 56,293 shares of the company’s stock, valued at approximately $16,052,511.88. The trade was a 48.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 132,557 shares of company stock worth $36,847,793 in the last quarter. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

Several large investors have recently added to or reduced their stakes in the company. State Street Corp grew its stake in Seagate Technology by 3.1% during the third quarter. State Street Corp now owns 9,276,278 shares of the data storage provider’s stock valued at $2,196,420,000 after acquiring an additional 274,913 shares in the last quarter. Northern Trust Corp grew its position in shares of Seagate Technology by 17.4% during the third quarter. Northern Trust Corp now owns 1,920,329 shares of the data storage provider’s stock valued at $453,313,000 after purchasing an additional 284,758 shares in the last quarter. Polar Capital Holdings Plc increased its holdings in shares of Seagate Technology by 35.2% in the third quarter. Polar Capital Holdings Plc now owns 1,479,369 shares of the data storage provider’s stock worth $349,220,000 after purchasing an additional 384,850 shares during the last quarter. Soroban Capital Partners LP increased its holdings in shares of Seagate Technology by 1,468.1% in the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after purchasing an additional 1,327,197 shares during the last quarter. Finally, Boston Partners lifted its position in shares of Seagate Technology by 2.4% in the third quarter. Boston Partners now owns 1,372,103 shares of the data storage provider’s stock worth $323,860,000 after buying an additional 31,602 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. TD Cowen lifted their target price on shares of Seagate Technology from $270.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Robert W. Baird upped their price objective on Seagate Technology from $188.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Rosenblatt Securities lifted their target price on Seagate Technology from $270.00 to $370.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Wells Fargo & Company upped their price target on Seagate Technology from $250.00 to $360.00 and gave the company an “equal weight” rating in a report on Thursday, January 15th. Finally, Cantor Fitzgerald lifted their price objective on Seagate Technology from $280.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $357.45.

Key Seagate Technology News

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Seagate reported fiscal Q2 results that beat expectations with record gross margin, operating margin and non-GAAP EPS — management highlighted durable demand and strong operational execution. Seagate Q2 Results
• Positive Sentiment: Media commentary (Jim Cramer) says Seagate is facing a shortage that can’t be met, signaling very strong end-market demand — a bullish narrative for revenue and pricing power. Jim Cramer on Seagate shortage
• Positive Sentiment: Analysts are pushing up targets and ratings after momentum — Mizuho raised its price target to $400 with an “outperform” and other outlets report higher targets, supporting further upside. Benzinga on Mizuho upgrade Price target raise to $380
• Neutral Sentiment: Market context: futures were mixed ahead of earnings and broader tech/AI enthusiasm is lifting disk-storage names; these macro moves provide tailwinds but also volatility risk. Market pre-open commentary
• Neutral Sentiment: Coverage and previews remind investors of the company calendar and expectations heading into and just after the report — useful for short-term positioning but not new fundamental data. Earnings preview Why STX is up today
• Negative Sentiment: Technical/valuation risks: several outlets flag that STX has moved parabolic and hit key resistance levels, raising the risk of a near-term pullback or consolidation after large gains. Technical resistance note
• Negative Sentiment: Relative valuation is elevated following a multi-hundred-percent rally; high P/E and rapid upside increase sensitivity to any revenue or margin disappointment. Earnings and valuation context

Seagate Technology Company Profile

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.