Seagate Technology (STX) Expected to Announce Quarterly Earnings on Tuesday

Seagate Technology (NASDAQ:STX) is anticipated to announce its earnings results after the market closes on Tuesday, January 21st. Analysts expect the company to announce earnings of $1.87 per share and revenue of $2,317,857.34 billion for the quarter. Seagate Technology has set its Q2 guidance at $1.65-2.05 EPS and its Q2 2025 guidance at 1.650-2.050 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

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. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The firm’s revenue was up 49.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.34) EPS. On average, analysts expect Seagate Technology to post $7 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Seagate Technology Price Performance

STX opened at $97.67 on Friday. Seagate Technology has a 12 month low of $82.31 and a 12 month high of $115.32. The stock has a market capitalization of $20.66 billion, a price-to-earnings ratio of 25.50 and a beta of 1.06. The business has a 50-day moving average of $94.40 and a two-hundred day moving average of $100.31.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Sunday, December 15th were issued a dividend of $0.72 per share. The ex-dividend date was Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.95%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s payout ratio is presently 75.20%.

Wall Street Analysts Forecast Growth

STX has been the subject of a number of research reports. Mizuho decreased their target price on Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Northland Securities boosted their target price on Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Rosenblatt Securities boosted their target price on Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Citigroup boosted their target price on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, StockNews.com lowered Seagate Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $120.94.

Insider Activity

In other news, Director Jay L. Geldmacher sold 4,100 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $103.30, for a total value of $423,530.00. Following the completion of the transaction, the director now owns 2,852 shares of the company’s stock, valued at approximately $294,611.60. This represents a 58.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 642,497 shares of the company’s stock, 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. In the last ninety days, insiders sold 55,304 shares of company stock worth $5,656,238. 0.81% of the stock is currently owned by insiders.

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.