Seagate Technology (NASDAQ:STX - Get Free Report) posted its quarterly earnings data on Tuesday. The data storage provider reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.14, Briefing.com reports. Seagate Technology had a negative return on equity of 105.02% and a net margin of 17.49%. The business had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.40 billion. During the same period in the previous year, the firm posted $1.05 EPS. The business's revenue was up 29.5% on a year-over-year basis. Seagate Technology updated its Q1 2026 guidance to 2.100-2.500 EPS.
Seagate Technology Price Performance
STX opened at $152.68 on Wednesday. The company has a 50 day simple moving average of $135.62 and a two-hundred day simple moving average of $106.50. The firm has a market cap of $32.40 billion, a P/E ratio of 22.06 and a beta of 1.45. Seagate Technology has a 1-year low of $63.19 and a 1-year high of $155.52.
Wall Street Analyst Weigh In
Several research firms recently weighed in on STX. Barclays lifted their price target on Seagate Technology from $80.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on shares of Seagate Technology in a research report on Thursday, July 10th. They issued a "buy" rating and a $170.00 target price on the stock. Cantor Fitzgerald lifted their price target on shares of Seagate Technology from $110.00 to $125.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. UBS Group upped their price objective on shares of Seagate Technology from $85.00 to $155.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, Wedbush reiterated an "outperform" rating and set a $140.00 target price on shares of Seagate Technology in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $134.38.
Get Our Latest Stock Analysis on STX
Seagate Technology declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 22nd that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the data storage provider to reacquire up to 21.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.
Insider Activity
In related news, Director Michael R. Cannon sold 24,190 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $119.00, for a total value of $2,878,610.00. Following the transaction, the director directly owned 10,835 shares of the company's stock, valued at approximately $1,289,365. The trade was a 69.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ban Seng Teh sold 63,418 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $125.00, for a total transaction of $7,927,250.00. Following the sale, the executive vice president directly owned 14,658 shares of the company's stock, valued at approximately $1,832,250. This trade represents a 81.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 395,516 shares of company stock worth $47,831,398 in the last quarter. Corporate insiders own 0.81% of the company's stock.
Institutional Investors Weigh In On Seagate Technology
An institutional investor recently raised its position in Seagate Technology stock. Integrated Wealth Concepts LLC raised its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 168.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,177 shares of the data storage provider's stock after purchasing an additional 4,499 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Seagate Technology were worth $610,000 as of its most recent filing with the Securities & Exchange Commission. 92.87% of the stock is currently owned by hedge funds and other institutional investors.
About Seagate Technology
(
Get Free Report)
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.
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