Seagate Technology Holdings plc to Post FY2024 Earnings of $0.43 Per Share, Northland Capmk Forecasts (NASDAQ:STX)

Seagate Technology Holdings plc (NASDAQ:STX) – Investment analysts at Northland Capmk issued their FY2024 EPS estimates for Seagate Technology in a research report issued to clients and investors on Wednesday, April 24th. Northland Capmk analyst G. Richard anticipates that the data storage provider will earn $0.43 per share 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.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the company earned ($0.43) EPS. Seagate Technology’s quarterly revenue was down 11.0% on a year-over-year basis.

A number of other brokerages also recently issued reports on STX. The Goldman Sachs Group increased their price target on Seagate Technology from $84.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Barclays reduced their price objective on shares of Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, April 22nd. Evercore ISI started coverage on shares of Seagate Technology in a research report on Tuesday, February 27th. They issued an “outperform” rating and a $110.00 target price for the company. Morgan Stanley upgraded shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $73.00 to $115.00 in a research report on Tuesday, March 26th. Finally, Wells Fargo & Company boosted their price objective on shares of Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $94.53.

Seagate Technology Trading Up 0.0 %

Seagate Technology stock opened at $86.08 on Monday. The company has a market capitalization of $18.03 billion, a price-to-earnings ratio of -66.73, a PEG ratio of 238.62 and a beta of 1.04. Seagate Technology has a 12 month low of $54.47 and a 12 month high of $101.26. The stock’s 50 day moving average is $89.22 and its 200-day moving average is $83.14.

Institutional Investors Weigh In On Seagate Technology

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

Seagate Technology Announces Dividend

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

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.