Seagate Technology (NASDAQ:STX) Issues Q3 2026 Earnings Guidance

Key Points

• Q3 FY2026 guidance: Seagate issued EPS guidance of $3.20–$3.60 and revenue guidance of $ $2.8–$3.0 billion, both above Street estimates (consensus EPS $3.01; revenue $2.7B).
• Quarterly beat and AI-driven demand: The company reported Q2 EPS of $3.11 (vs. $2.77 consensus) and $2.83B in revenue (vs. $2.73B), citing robust AI-related storage demand and margin improvements.
• Market reaction and analyst optimism (with risks): Shares surged to about $371.76 as brokers raised price targets (average target ≈ $357.45) and most ratings are Buy, though insiders have been selling and analysts warn of valuation/technical pullback risk after the rapid run-up.

Seagate Technology (NASDAQ:STX - Get Free Report) updated its third quarter 2026 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 3.200-3.600 for the period, compared to the consensus estimate of 3.010. The company issued revenue guidance of $2.8 billion-$3.0 billion, compared to the consensus revenue estimate of $2.7 billion.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Fox Advisors increased their price target on Seagate Technology from $245.00 to $270.00 in a research report on Wednesday, October 29th. Sanford C. Bernstein upped their price target on Seagate Technology from $275.00 to $370.00 and gave the company an "outperform" rating in a research note on Thursday, November 6th. Loop Capital raised their price target on Seagate Technology from $350.00 to $465.00 and gave the company a "buy" rating in a report on Monday, November 10th. The Goldman Sachs Group raised their price objective on shares of Seagate Technology from $280.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, January 9th. Finally, Rosenblatt Securities raised their target price on Seagate Technology from $270.00 to $370.00 and gave the stock a "buy" rating in a report on Tuesday, January 20th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Seagate Technology presently has an average rating of "Moderate Buy" and an average target price of $357.45.

Seagate Technology Stock Performance

NASDAQ STX traded up $13.47 during trading on Tuesday, hitting $371.76. The stock had a trading volume of 7,080,492 shares, compared to its average volume of 3,109,224. The company's 50-day moving average price is $293.46 and its two-hundred day moving average price is $233.69. The company has a market capitalization of $79.39 billion, a PE ratio of 42.96, a P/E/G ratio of 1.06 and a beta of 1.60. Seagate Technology has a 12 month low of $63.19 and a 12 month high of $383.88.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.83 billion during the quarter, compared to analysts' expectations of $2.73 billion. Seagate Technology had a negative return on equity of 297.87% and a net margin of 17.92%.The business's quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, equities analysts anticipate that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Insider Activity

In other Seagate Technology news, EVP Ban Seng Teh sold 6,000 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $270.00, for a total transaction of $1,620,000.00. Following the sale, the executive vice president directly owned 12,041 shares in the company, valued at $3,251,070. This represents a 33.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kian Fatt Chong sold 7,078 shares of the business's stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $272.14, for a total transaction of $1,926,206.92. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 132,557 shares of company stock worth $36,847,793. 0.79% of the stock is currently owned by insiders.

Seagate Technology News Summary

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Q2 beat and strong guidance — Seagate reported $3.11 EPS vs. consensus ~ $2.77 and $2.83B revenue vs. ~$2.73B, and forecast Q3 revenue/profit above street estimates on robust AI-driven storage demand. Seagate Technology Reports Fiscal Second Quarter 2026 Financial Results
• Positive Sentiment: Bull commentary on tight supply — High-profile bullish coverage, including Jim Cramer, highlighted unmet/insatiable demand for Seagate's products tied to the AI buildout, supporting expectations for continued order strength. Seagate (STX) is Facing a Shortage That Can’t Be Met, Says Jim Cramer
• Positive Sentiment: Analyst upgrades/price-target increases — Broker coverage has moved higher (examples include Mizuho raising its target and other outlets reporting raised targets to the $370–$400 area), reinforcing upside sentiment. Seagate Technology NASDAQ: STX Price Target Raised to $380.00
• Neutral Sentiment: Company presentation and investor materials available — Seagate posted the press release, slide deck and conference-call materials detailing margin improvements and record non-GAAP EPS, useful for modeling forward margins and cash flow. Seagate Q2 earnings materials and transcript
• Negative Sentiment: Market digestion / "cooling off" noted — Some coverage points out the stock briefly cooled or was volatile after the print, suggesting some profit-taking even with strong fundamentals. Seagate Technology cools off despite strong Q2 results, guidance
• Negative Sentiment: Technical/valuation risk after parabolic run — Analysts and chart watchers warn STX has run up rapidly and hit resistance levels, raising the risk of a pullback despite bullish demand trends. Seagate Technology stock hits key resistance ahead of its earnings

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in STX. Soroban Capital Partners LP lifted its holdings in Seagate Technology by 1,468.1% during the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider's stock worth $204,602,000 after buying an additional 1,327,197 shares during the period. Polar Capital Holdings Plc raised its position in shares of Seagate Technology by 35.2% during the third quarter. Polar Capital Holdings Plc now owns 1,479,369 shares of the data storage provider's stock worth $349,220,000 after acquiring an additional 384,850 shares during the last quarter. Marshall Wace LLP boosted its holdings in Seagate Technology by 147.5% in the third quarter. Marshall Wace LLP now owns 93,371 shares of the data storage provider's stock valued at $22,041,000 after acquiring an additional 289,971 shares during the last quarter. Northern Trust Corp boosted its holdings in Seagate Technology by 17.4% in the third quarter. Northern Trust Corp now owns 1,920,329 shares of the data storage provider's stock valued at $453,313,000 after acquiring an additional 284,758 shares during the last quarter. Finally, State Street Corp raised its holdings in Seagate Technology by 3.1% during the 3rd quarter. State Street Corp now owns 9,276,278 shares of the data storage provider's stock worth $2,196,420,000 after purchasing an additional 274,913 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Company Profile

Seagate Technology NASDAQ: STX is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm's product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate's products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.

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