Brokers Issue Forecasts for STX FY2025 Earnings

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

Several other analysts also recently commented on the company. Citigroup raised their target price on Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley dropped their price objective on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating on the stock in a research note on Tuesday. Northland Securities reiterated an “outperform” rating and issued a $160.00 target price (up previously from $144.00) on shares of Seagate Technology in a research note on Wednesday. Bank of America raised their price target on shares of Seagate Technology from $124.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Rosenblatt Securities upped their price objective on shares of Seagate Technology from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and a consensus target price of $122.56.

Seagate Technology Price Performance

STX opened at $108.42 on Thursday. Seagate Technology has a fifty-two week low of $82.31 and a fifty-two week high of $115.32. The firm has a market capitalization of $22.93 billion, a PE ratio of 19.82 and a beta of 1.06. The company’s 50-day moving average is $94.55 and its 200 day moving average is $100.33.

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

Seagate Technology Announces Dividend

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

Insider Buying and Selling at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 642,497 shares in the company, valued at $63,947,726.41. This trade represents a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total transaction of $76,365.00. Following the sale, the director now owns 6,555 shares in the company, valued at $667,430.10. The trade was a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,073 shares of company stock valued at $5,106,149 over the last three months. 0.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in shares of Seagate Technology in the 3rd quarter worth $133,031,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 during the last quarter. State Street Corp raised its position in Seagate Technology by 6.8% in the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock worth $937,081,000 after purchasing an additional 541,585 shares during the period. Franklin Resources Inc. lifted its stake in Seagate Technology by 29.5% in the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock worth $197,844,000 after purchasing an additional 405,232 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in Seagate Technology during the second quarter valued at about $35,349,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Company Profile

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.