Seagate Technology (NASDAQ:STX) Announces Quarterly Earnings Results

Seagate Technology (NASDAQ:STX) issued its earnings results on Tuesday. The data storage provider reported $7.68 EPS for the quarter, topping analysts’ consensus estimates of $7.45 by $0.23, FiscalAI reports. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.15 billion.

Seagate Technology Stock Up 3.7%

NASDAQ:STX traded up $23.64 during trading hours on Tuesday, reaching $667.85. The company’s stock had a trading volume of 8,764,966 shares, compared to its average volume of 4,432,363. The company has a market cap of $151.86 billion, a price-to-earnings ratio of 48.12 and a beta of 2.06. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17. Seagate Technology has a one year low of $217.67 and a one year high of $1,145.00. The business’s 50-day moving average is $816.49 and its 200-day moving average is $680.95.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Bank of America raised their target price on Seagate Technology from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Wednesday, October 21st. Barclays raised their price target on Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Wedbush boosted their target price on shares of Seagate Technology from $825.00 to $1,000.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Wells Fargo & Company decreased their price target on shares of Seagate Technology from $1,180.00 to $865.00 and set an “overweight” rating on the stock in a research report on Friday, October 16th. Finally, Susquehanna boosted their target price on Seagate Technology from $775.00 to $875.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $951.92.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Seagate reported earnings of $7.68 per share, exceeding the $7.45 analyst consensus, while revenue reached $4.23 billion versus expectations of $4.15 billion. The results reinforce the company’s improving earnings momentum and strong pricing environment. Seagate earnings press release
• Positive Sentiment: Artificial-intelligence infrastructure and hyperscale data-center expansion are driving demand for Seagate’s high-capacity hard drives. The company’s HAMR and SMR technologies also achieved expanded interoperability with Broadcom systems and validation at Microsoft Azure, potentially supporting broader adoption. Seagate storage interoperability announcement
• Positive Sentiment: Analysts had anticipated an earnings beat based on strong HDD demand, higher pricing, Mozaic technology growth and contracts supporting demand through 2028. Several firms raised price targets before the report, while Cantor Fitzgerald retained an overweight rating despite lowering its target to $1,000. Seagate earnings preview
• Neutral Sentiment: The strong report may help counter a recent pullback, but investor expectations were already elevated. The stock remains volatile, trades at a high earnings multiple and is well below its 52-week high, leaving the market focused on future pricing, capacity and management guidance.
• Negative Sentiment: Executive Vice President James Lee sold 547 shares worth approximately $351,251, reducing his direct ownership by about 34.5%. The transaction is relatively small compared with Seagate’s market value but could weigh modestly on sentiment. Seagate insider share sale

Insider Buying and Selling at Seagate Technology

In related news, CEO William Mosley sold 97,889 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $772.14, for a total value of $75,584,012.46. Following the transaction, the chief executive officer owned 378,108 shares of the company’s stock, valued at approximately $291,952,311.12. This trade represents a 20.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Ban Teh sold 52,730 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $782.08, for a total transaction of $41,239,078.40. Following the completion of the transaction, the executive vice president directly owned 5,810 shares of the company’s stock, valued at approximately $4,543,884.80. The trade was a 90.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 467,506 shares of company stock valued at $379,191,992. 0.51% of the stock is currently owned by company insiders.

Seagate Technology Company Profile

Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.