Seagate Technology (NASDAQ:STX) Issues Quarterly Earnings Results, Beats Expectations By $0.34 EPS

Seagate Technology (NASDAQ:STX) announced its earnings results on Tuesday. The data storage provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34, FiscalAI reports. Seagate Technology had a negative return on equity of 297.87% and a net margin of 17.92%.The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.73 billion.

Seagate Technology Price Performance

STX traded up $13.47 during midday trading on Tuesday, hitting $371.76. 5,878,359 shares of the company’s stock traded hands, compared to its average volume of 3,734,722. The company has a market cap of $79.39 billion, a PE ratio of 47.72, a price-to-earnings-growth ratio of 1.04 and a beta of 1.60. The stock’s fifty day simple moving average is $291.10 and its 200-day simple moving average is $232.11. Seagate Technology has a one year low of $63.19 and a one year high of $383.88.

More Seagate Technology News

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

• Positive Sentiment: Seagate reported fiscal Q2 results that beat expectations with record gross margin, operating margin and non-GAAP EPS — management highlighted durable demand and strong operational execution. Seagate Q2 Results
• Positive Sentiment: Media commentary (Jim Cramer) says Seagate is facing a shortage that can’t be met, signaling very strong end-market demand — a bullish narrative for revenue and pricing power. Jim Cramer on Seagate shortage
• Positive Sentiment: Analysts are pushing up targets and ratings after momentum — Mizuho raised its price target to $400 with an “outperform” and other outlets report higher targets, supporting further upside. Benzinga on Mizuho upgrade Price target raise to $380
• Neutral Sentiment: Market context: futures were mixed ahead of earnings and broader tech/AI enthusiasm is lifting disk-storage names; these macro moves provide tailwinds but also volatility risk. Market pre-open commentary
• Neutral Sentiment: Coverage and previews remind investors of the company calendar and expectations heading into and just after the report — useful for short-term positioning but not new fundamental data. Earnings preview Why STX is up today
• Negative Sentiment: Technical/valuation risks: several outlets flag that STX has moved parabolic and hit key resistance levels, raising the risk of a near-term pullback or consolidation after large gains. Technical resistance note
• Negative Sentiment: Relative valuation is elevated following a multi-hundred-percent rally; high P/E and rapid upside increase sensitivity to any revenue or margin disappointment. Earnings and valuation context

Insider Activity at Seagate Technology

In related news, EVP Kian Fatt Chong sold 7,078 shares of Seagate Technology stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $272.14, for a total value of $1,926,206.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ban Seng Teh sold 6,000 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $270.00, for a total value of $1,620,000.00. Following the sale, the executive vice president owned 12,041 shares of the company’s stock, valued at approximately $3,251,070. This trade represents a 33.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 132,557 shares of company stock worth $36,847,793 over the last quarter. 0.79% of the stock is currently owned by corporate insiders.

Institutional Trading of Seagate Technology

A number of institutional investors and hedge funds have recently modified their holdings of STX. Soroban Capital Partners LP grew its stake in Seagate Technology by 1,468.1% in the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock valued at $204,602,000 after buying an additional 1,327,197 shares during the last quarter. Polar Capital Holdings Plc boosted its holdings in 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 valued at $349,220,000 after acquiring an additional 384,850 shares during the period. Marshall Wace LLP boosted its holdings in Seagate Technology by 147.5% during 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 period. Northern Trust Corp grew its position in shares of 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 purchasing an additional 284,758 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Seagate Technology by 3.1% in the third 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 period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on STX shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Seagate Technology in a report on Monday, December 29th. Fox Advisors increased their price objective on Seagate Technology from $245.00 to $270.00 in a research report on Wednesday, October 29th. Sanford C. Bernstein lifted their target price on Seagate Technology from $275.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Benchmark upped their target price on Seagate Technology from $255.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Finally, Exane BNP Paribas raised Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $357.45.

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.