Equities Analysts Offer Predictions for STX FY2025 Earnings

Seagate Technology Holdings plc (NASDAQ:STX - Free Report) - Research analysts at Cantor Fitzgerald boosted their FY2025 earnings per share estimates for Seagate Technology in a report issued on Wednesday, April 30th. Cantor Fitzgerald analyst C. Muse now anticipates that the data storage provider will post earnings per share of $7.07 for the year, up from their prior estimate of $6.60. Cantor Fitzgerald has a "Neutral" rating and a $120.00 price target on the stock. The consensus estimate for Seagate Technology's current full-year earnings is $6.83 per share.

A number of other equities analysts have also recently issued reports on STX. StockNews.com cut Seagate Technology from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Susquehanna raised 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, January 22nd. Morgan Stanley reduced their target price on shares of Seagate Technology from $133.00 to $129.00 and set an "overweight" rating on the stock in a report on Tuesday, January 21st. The Goldman Sachs Group dropped their price target on shares of Seagate Technology from $112.00 to $99.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Finally, Summit Insights upgraded Seagate Technology from a "hold" rating to a "buy" rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $114.89.

Seagate Technology Stock Up 0.9 %

Shares of STX traded up $0.80 during midday trading on Friday, hitting $94.70. The company's stock had a trading volume of 1,552,573 shares, compared to its average volume of 2,850,242. Seagate Technology has a one year low of $63.19 and a one year high of $115.32. The stock has a market capitalization of $20.05 billion, a price-to-earnings ratio of 17.31 and a beta of 1.32. The company's fifty day simple moving average is $82.99 and its two-hundred day simple moving average is $92.56.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.75 by $0.15. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The company had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.14 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The business's revenue was up 30.5% on a year-over-year basis.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.04%. Seagate Technology's dividend payout ratio is presently 41.62%.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 20,000 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total value of $1,691,200.00. Following the sale, the chief executive officer now directly owns 555,677 shares of the company's stock, valued at $46,988,047.12. This represents a 3.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Seagate Technology

Several large investors have recently modified their holdings of the stock. Ameriflex Group Inc. purchased a new stake in shares of Seagate Technology during the fourth quarter valued at approximately $26,000. Elequin Capital LP bought a new position in Seagate Technology in the 4th quarter valued at approximately $27,000. Fourth Dimension Wealth LLC purchased a new stake in Seagate Technology during the 4th quarter valued at $27,000. Wayfinding Financial LLC bought a new stake in shares of Seagate Technology in the 1st quarter worth $31,000. Finally, Golden State Wealth Management LLC raised its stake in shares of Seagate Technology by 2,200.0% in the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock worth $39,000 after purchasing an additional 440 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

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.