Seagate Technology Holdings plc Expected to Earn FY2024 Earnings of $0.43 Per Share (NASDAQ:STX)

Seagate Technology Holdings plc (NASDAQ:STX - Free Report) - Analysts at Northland Capmk issued their FY2024 earnings per share estimates for Seagate Technology in a report released on Wednesday, April 24th. Northland Capmk analyst G. Richard expects that the data storage provider will post earnings per share of $0.43 for the year. The consensus estimate for Seagate Technology's current full-year earnings is $0.30 per share. Northland Capmk also issued estimates for Seagate Technology's Q4 2024 earnings at $0.59 EPS, Q1 2025 earnings at $1.05 EPS, Q2 2025 earnings at $1.35 EPS, Q3 2025 earnings at $1.43 EPS, Q4 2025 earnings at $1.66 EPS, FY2025 earnings at $5.46 EPS and FY2026 earnings at $9.41 EPS.

A number of other research firms have also weighed in on STX. BNP Paribas lowered shares of Seagate Technology from a "neutral" rating to an "underperform" rating and set a $65.00 price target for the company. in a research report on Thursday, January 11th. Rosenblatt Securities upped their target price on shares of Seagate Technology from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, January 25th. Barclays lowered their price objective on Seagate Technology from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Monday, April 22nd. Susquehanna increased their target price on Seagate Technology from $50.00 to $55.00 and gave the stock a "negative" rating in a research report on Wednesday, April 10th. Finally, The Goldman Sachs Group boosted their price target on Seagate Technology from $84.00 to $96.00 and gave the stock a "neutral" rating in a report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $94.53.

Seagate Technology Price Performance

Shares of NASDAQ:STX traded up $0.04 during mid-day trading on Monday, reaching $86.08. 2,049,859 shares of the company traded hands, compared to its average volume of 2,859,390. The company's 50 day moving average price is $89.22 and its 200-day moving average price is $83.14. The firm has a market cap of $18.03 billion, a PE ratio of -66.73, a PEG ratio of 238.62 and a beta of 1.04. Seagate Technology has a 52 week low of $54.47 and a 52 week high of $101.26.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.68 billion. Seagate Technology's revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.43) earnings per share.

Institutional Investors Weigh In On Seagate Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STX. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Seagate Technology in the fourth quarter worth $26,000. CVA Family Office LLC bought a new stake in shares of Seagate Technology in the 4th quarter worth about $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Seagate Technology during the 4th quarter worth about $28,000. Northwest Financial Advisors bought a new position in Seagate Technology during the 4th quarter valued at about $31,000. Finally, Parkside Financial Bank & Trust raised its position in Seagate Technology by 85.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider's stock worth $29,000 after purchasing an additional 205 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Thursday, June 20th. Seagate Technology's dividend payout ratio is -217.05%.

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.