Wedbush Lowers Earnings Estimates for Seagate Technology

Seagate Technology Holdings plc (NASDAQ:STX) – Investment analysts at Wedbush dropped their FY2026 EPS estimates for shares of Seagate Technology in a report released on Tuesday, January 21st. Wedbush analyst M. Bryson now forecasts that the data storage provider will post earnings per share of $12.87 for the year, down from their previous estimate of $13.50. Wedbush has a “Outperform” rating and a $150.00 price objective on the stock. The consensus estimate for Seagate Technology’s current full-year earnings is $7.18 per share.

STX has been the subject of a number of other reports. Benchmark upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Wednesday. Morgan Stanley lowered their price target on shares of Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a research report on Tuesday. Susquehanna increased their price objective on shares of Seagate Technology from $65.00 to $68.00 and gave the company a “negative” rating in a report on Wednesday. Summit Insights raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Citigroup upped their target price on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average price target of $122.56.

Seagate Technology Stock Performance

NASDAQ STX opened at $108.18 on Wednesday. The stock has a market capitalization of $22.88 billion, a P/E ratio of 28.25 and a beta of 1.06. Seagate Technology has a 52 week low of $82.31 and a 52 week high of $115.32. The stock has a fifty day moving average of $94.55 and a 200-day moving average of $100.33.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. Seagate Technology’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.34) earnings per share.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 75.20%.

Insider Activity at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.53, for a total transaction of $1,990,600.00. Following the completion of the transaction, the chief executive officer now owns 642,497 shares of the company’s stock, valued at $63,947,726.41. This represents a 3.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the transaction, the director now directly owns 6,555 shares of the company’s stock, valued at $667,430.10. This represents a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,073 shares of company stock valued at $5,106,149. 0.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Seagate Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. bought a new position in shares of Seagate Technology in the 3rd quarter valued at about $133,031,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Seagate Technology by 341.7% in the third 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 worth $937,081,000 after purchasing an additional 541,585 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Seagate Technology by 29.5% during the 3rd 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 bought a new stake in shares of Seagate Technology during the 2nd quarter worth approximately $35,349,000. 92.87% of the stock is owned by 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.