Seagate Technology (NASDAQ:STX) Issues Q2 Earnings Guidance

Seagate Technology (NASDAQ:STX) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $1.65-2.05 for the period, compared to the consensus EPS estimate of $1.74. The company issued revenue guidance of $2.15-2.45 billion, compared to the consensus revenue estimate of $2.29 billion. Seagate Technology also updated its Q2 2025 guidance to 1.650-2.050 EPS.

Seagate Technology Price Performance

Shares of NASDAQ:STX traded down $8.80 during midday trading on Wednesday, hitting $103.84. The company had a trading volume of 1,941,249 shares, compared to its average volume of 2,484,301. The company has a fifty day moving average of $104.92 and a two-hundred day moving average of $99.52. Seagate Technology has a 12-month low of $64.12 and a 12-month high of $115.32. The company has a market cap of $21.86 billion, a price-to-earnings ratio of 67.89 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. The company 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 5.11% and a negative return on equity of 8.41%. Seagate Technology’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.34) EPS. Research analysts expect that Seagate Technology will post 7.09 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.77%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio (DPR) is currently 181.82%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on STX. Citigroup increased their target price on Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Cantor Fitzgerald upped their target price on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. TD Cowen boosted their price objective on Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Susquehanna raised their price objective on Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $117.61.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the completion of the sale, the chief executive officer now owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the completion of the sale, the chief executive officer now directly owns 654,270 shares in the company, valued at approximately $61,148,074.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP John Christopher Morris sold 1,131 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total transaction of $126,558.90. Following the completion of the sale, the senior vice president now owns 7,191 shares in the company, valued at $804,672.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 214,298 shares of company stock worth $22,814,576. 0.81% of the stock is owned by corporate 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.