Research Analysts Offer Predictions for STX FY2025 Earnings

Seagate Technology Holdings plc (NASDAQ:STX) – Analysts at Cantor Fitzgerald issued their FY2025 earnings estimates for shares of Seagate Technology in a report released on Wednesday, January 22nd. Cantor Fitzgerald analyst C. Muse forecasts that the data storage provider will post earnings per share of $6.75 for the year. Cantor Fitzgerald currently has a “Neutral” rating and a $120.00 price objective on the stock. The consensus estimate for Seagate Technology’s current full-year earnings is $7.18 per share.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.30 by $0.28. Seagate Technology had a net margin of 14.67% and a negative return on equity of 58.59%. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm posted ($0.34) earnings per share. Seagate Technology’s revenue for the quarter was up 49.1% compared to the same quarter last year.

Several other equities research analysts also recently weighed in on STX. Summit Insights raised Seagate Technology from a “hold” rating to a “buy” rating in a research report on Wednesday. Benchmark upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a report on Wednesday. Bank of America lifted their price objective on shares of Seagate Technology from $124.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday. Wedbush restated an “outperform” rating and issued a $150.00 target price on shares of Seagate Technology in a research note on Wednesday. Finally, Northland Securities reaffirmed an “outperform” rating and set a $160.00 price target (up previously from $144.00) on shares of Seagate Technology in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and a consensus target price of $122.56.

Seagate Technology Trading Up 6.8 %

NASDAQ:STX opened at $108.18 on Thursday. Seagate Technology has a twelve month low of $82.31 and a twelve month high of $115.32. The firm has a market capitalization of $22.88 billion, a price-to-earnings ratio of 19.78 and a beta of 1.06. The firm’s fifty day simple moving average is $94.55 and its 200 day simple moving average is $100.33.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s dividend payout ratio is currently 52.65%.

Insider Buying and Selling

In related news, SVP Kian Fatt Chong sold 9,182 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $105.50, for a total value of $968,701.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.53, for a total value of $1,990,600.00. Following the sale, the chief executive officer now directly owns 642,497 shares in the company, valued at approximately $63,947,726.41. This trade represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,073 shares of company stock worth $5,106,149 over the last ninety days. 0.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Seagate Technology

Several institutional investors have recently bought and sold shares of STX. Point72 Asset Management L.P. acquired a new position in shares of Seagate Technology during the third quarter valued at approximately $133,031,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Seagate Technology by 341.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider’s stock valued at $143,370,000 after purchasing an additional 1,012,638 shares in the last quarter. State Street Corp increased its position in shares of Seagate Technology by 6.8% during the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock valued at $937,081,000 after purchasing an additional 541,585 shares during the period. Franklin Resources Inc. raised its stake in shares of Seagate Technology by 29.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock worth $197,844,000 after buying an additional 405,232 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Seagate Technology in the second quarter valued at $35,349,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

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.