FY2024 EPS Estimates for Seagate Technology Holdings plc (NASDAQ:STX) Boosted by Analyst

Seagate Technology Holdings plc (NASDAQ:STX) – Zacks Research boosted their FY2024 earnings per share (EPS) estimates for Seagate Technology in a report released on Monday, May 13th. Zacks Research analyst V. Doshi now anticipates that the data storage provider will earn $0.26 per share for the year, up from their previous forecast of ($0.27). The consensus estimate for Seagate Technology’s current full-year earnings is $0.30 per share. Zacks Research also issued estimates for Seagate Technology’s Q4 2024 earnings at $0.40 EPS, Q1 2025 earnings at $0.23 EPS, Q2 2025 earnings at $0.57 EPS, Q3 2025 earnings at $0.75 EPS, Q4 2025 earnings at $1.42 EPS, FY2025 earnings at $2.98 EPS, Q1 2026 earnings at $1.12 EPS, Q2 2026 earnings at $1.50 EPS, Q3 2026 earnings at $1.62 EPS and FY2026 earnings at $6.26 EPS.

Several other research analysts have also recently weighed in on STX. Citigroup started coverage on Seagate Technology in a research report on Tuesday. They set a “buy” rating and a $110.00 price objective for the company. Evercore ISI started coverage on Seagate Technology in a research report on Tuesday, February 27th. They set an “outperform” rating and a $110.00 price objective for the company. Rosenblatt Securities upped their price objective on Seagate Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Morgan Stanley raised Seagate Technology from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $73.00 to $115.00 in a research report on Tuesday, March 26th. Finally, Susquehanna upped their price objective on Seagate Technology from $50.00 to $55.00 and gave the stock a “negative” rating in a research report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $95.50.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $98.24 on Thursday. Seagate Technology has a 1 year low of $57.06 and a 1 year high of $101.26. The business has a 50-day moving average of $89.08 and a two-hundred day moving average of $85.07. The company has a market capitalization of $20.63 billion, a P/E ratio of -76.16, a price-to-earnings-growth ratio of 258.33 and a beta of 1.06.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, topping 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 last year, the company earned ($0.43) earnings per share. The firm’s revenue was down 11.0% compared to the same quarter last year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be given a $0.70 dividend. The ex-dividend date is Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.85%. Seagate Technology’s payout ratio is -217.05%.

Insider Activity

In other news, SVP John Christopher Morris sold 11,158 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total value of $1,004,220.00. Following the completion of the sale, the senior vice president now directly owns 17,767 shares of the company’s stock, valued at $1,599,030. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP John Christopher Morris sold 11,158 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total value of $1,004,220.00. Following the completion of the sale, the senior vice president now directly owns 17,767 shares of the company’s stock, valued at $1,599,030. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ban Seng Teh sold 9,703 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total value of $921,785.00. Following the completion of the sale, the executive vice president now directly owns 15,185 shares of the company’s stock, valued at $1,442,575. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

A number of large investors have recently made changes to their positions in the company. Tidal Investments LLC increased its stake in shares of Seagate Technology by 24.5% during the first quarter. Tidal Investments LLC now owns 4,289 shares of the data storage provider’s stock worth $399,000 after purchasing an additional 844 shares during the period. California State Teachers Retirement System increased its stake in shares of Seagate Technology by 5.7% during the first quarter. California State Teachers Retirement System now owns 291,919 shares of the data storage provider’s stock worth $27,163,000 after purchasing an additional 15,847 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in shares of Seagate Technology by 3.9% during the first quarter. B. Riley Wealth Advisors Inc. now owns 19,340 shares of the data storage provider’s stock worth $1,800,000 after purchasing an additional 725 shares during the period. Paloma Partners Management Co bought a new position in shares of Seagate Technology during the first quarter worth approximately $845,000. Finally, Ascent Group LLC increased its stake in shares of Seagate Technology by 4.2% during the first quarter. Ascent Group LLC now owns 12,534 shares of the data storage provider’s stock worth $1,166,000 after purchasing an additional 507 shares during the period. 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.