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 interested in listening to the company’s conference call can do so using this link.

Seagate Technology (NASDAQ:STX) last announced its 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. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm posted ($0.34) EPS. The company’s revenue for the quarter was up 49.1% compared to the same quarter last year. 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

NASDAQ:STX opened at $97.67 on Friday. The firm has a market capitalization of $20.66 billion, a P/E ratio of 25.50 and a beta of 1.06. Seagate Technology has a one year low of $82.31 and a one year high of $115.32. The company’s 50-day simple moving average is $94.40 and its 200 day simple moving average is $100.31.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Sunday, December 15th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.95%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, December 13th. Seagate Technology’s payout ratio is 75.20%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on STX shares. Citigroup upped their target price on shares of Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Evercore ISI raised their price target on shares of Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Northland Securities increased their price objective on shares of Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company reduced their price target on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Mizuho dropped their price target on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $120.94.

Insiders Place Their Bets

In other news, Director Jay L. Geldmacher sold 4,100 shares of the stock in a transaction that occurred 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 sale, the director now directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total value of $76,365.00. Following the completion of the sale, the director now directly owns 6,555 shares of the company’s stock, 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 55,304 shares of company stock worth $5,656,238 over the last three months. Company insiders own 0.81% 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.