Seagate Technology (NASDAQ:STX) Issues Earnings Results, Beats Estimates By $0.23 EPS

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

Seagate Technology Stock Performance

STX traded up $23.64 during trading on Tuesday, hitting $667.85. The company’s stock had a trading volume of 8,811,657 shares, compared to its average volume of 4,432,713. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. Seagate Technology has a one year low of $217.67 and a one year high of $1,145.00. The firm has a market cap of $151.86 billion, a PE ratio of 48.12 and a beta of 2.06. The business’s 50 day simple moving average is $816.49 and its 200-day simple moving average is $680.95.

Seagate Technology News Roundup

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 other news, EVP John Morris sold 15,466 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $772.15, for a total value of $11,942,071.90. Following the completion of the sale, the executive vice president directly owned 31,132 shares in the company, valued at $24,038,573.80. This represents a 33.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gianluca Romano sold 49,984 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $772.16, for a total value of $38,595,645.44. Following the completion of the transaction, the chief financial officer directly owned 70,756 shares in the company, valued at approximately $54,634,952.96. This represents a 41.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 467,506 shares of company stock worth $379,191,992. 0.51% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on STX shares. Citigroup raised their target price on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Susquehanna increased their price target on Seagate Technology from $775.00 to $875.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Sanford C. Bernstein restated an “outperform” rating and issued a $1,350.00 price target on shares of Seagate Technology in a research note on Wednesday, July 29th. Argus lifted their price objective on Seagate Technology from $750.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Bank of America upped their price objective on Seagate Technology from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Wednesday, October 21st. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and an average target price of $951.92.

About Seagate Technology

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.