Q1 EPS Estimate for Seagate Technology Lifted by Analyst

Key Points

• Zacks Research has increased its Q1 2026 EPS estimate for Seagate Technology to $2.10 from $1.90, reflecting a strong positive outlook for the company.
• Seagate Technology recently reported Q2 2023 earnings of $2.59 per share, exceeding expectations and indicating a year-over-year revenue increase of 29.5%.
• The company embraced a large $5 billion share repurchase plan, signaling management's belief that its shares are undervalued.

Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) - Equities research analysts at Zacks Research boosted their Q1 2026 earnings per share estimates for shares of Seagate Technology in a report released on Tuesday, August 19th. Zacks Research analyst Team now forecasts that the data storage provider will earn $2.10 per share for the quarter, up from their previous estimate of $1.90. The consensus estimate for Seagate Technology's current full-year earnings is $6.83 per share. Zacks Research also issued estimates for Seagate Technology's Q2 2026 earnings at $2.15 EPS, Q3 2026 earnings at $2.23 EPS, Q4 2026 earnings at $2.59 EPS, FY2026 earnings at $9.02 EPS, Q1 2027 earnings at $2.53 EPS, Q2 2027 earnings at $2.69 EPS, Q3 2027 earnings at $2.87 EPS, Q4 2027 earnings at $3.10 EPS, FY2027 earnings at $11.20 EPS and FY2028 earnings at $13.10 EPS.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.45 by $0.14. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the firm earned $1.05 earnings per share. The company's revenue for the quarter was up 29.5% compared to the same quarter last year. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS.

A number of other equities research analysts have also weighed in on the stock. Barclays raised their price objective on shares of Seagate Technology from $90.00 to $125.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. UBS Group raised their price objective on Seagate Technology from $85.00 to $155.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Bank of America lifted their target price on Seagate Technology from $145.00 to $165.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Citigroup lifted their price target on Seagate Technology from $140.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Wedbush reaffirmed an "outperform" rating and set a $140.00 price target on shares of Seagate Technology in a research report on Wednesday, May 21st. Fourteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $151.44.

Seagate Technology Price Performance

Shares of NASDAQ STX traded up $4.79 during midday trading on Friday, hitting $164.00. The company's stock had a trading volume of 2,514,370 shares, compared to its average volume of 3,881,266. The firm has a market capitalization of $34.88 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 0.98 and a beta of 1.50. Seagate Technology has a 1 year low of $63.19 and a 1 year high of $165.28. The business's fifty day simple moving average is $147.68 and its two-hundred day simple moving average is $113.58.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Tuesday, September 30th. Seagate Technology's payout ratio is 42.54%.

Seagate Technology announced that its board has approved a stock repurchase program on Thursday, May 22nd that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to repurchase up to 21.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In other Seagate Technology news, CEO William D. Mosley sold 54,347 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $130.19, for a total value of $7,075,435.93. Following the completion of the transaction, the chief executive officer owned 515,677 shares in the company, valued at approximately $67,135,988.63. This represents a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ban Seng Teh sold 63,418 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $125.00, for a total value of $7,927,250.00. Following the completion of 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 343,414 shares of company stock valued at $43,661,770. 0.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Seagate Technology

A number of large investors have recently made changes to their positions in STX. Ameriflex Group Inc. purchased a new position in Seagate Technology in the fourth quarter valued at about $26,000. Elequin Capital LP acquired a new stake in shares of Seagate Technology in the 4th quarter worth approximately $27,000. Fourth Dimension Wealth LLC purchased a new position in Seagate Technology in the 4th quarter valued at approximately $27,000. Harbor Asset Planning Inc. acquired a new position in Seagate Technology during the second quarter worth $27,000. Finally, Rakuten Securities Inc. boosted its position in Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock worth $27,000 after purchasing an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 92.87% 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.