Seagate Technology (NASDAQ:STX) Issues Quarterly Earnings Results

Seagate Technology (NASDAQ:STX) released its quarterly earnings data on Tuesday. The data storage provider reported $5.71 earnings per share for the quarter, topping analysts’ consensus estimates of $5.10 by $0.61, FiscalAI reports. The company had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. Seagate Technology updated its Q1 2027 guidance to 7.100-7.500 EPS.

Seagate Technology Stock Performance

NASDAQ:STX traded down $69.69 during trading hours on Tuesday, reaching $747.30. 8,474,514 shares of the company’s stock were exchanged, compared to its average volume of 4,345,973. The firm has a market capitalization of $167.57 billion, a price-to-earnings ratio of 70.90 and a beta of 2.04. The company has a 50-day moving average of $894.67 and a 200 day moving average of $615.89. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. Seagate Technology has a 1-year low of $138.30 and a 1-year high of $1,145.00.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 30,000 shares of Seagate Technology stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total value of $22,538,700.00. Following the transaction, the chief executive officer directly owned 339,591 shares in the company, valued at approximately $255,131,322.39. This trade represents a 8.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 22,488 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $774.22, for a total value of $17,410,659.36. Following the completion of the transaction, the chief financial officer directly owned 42,847 shares in the company, valued at approximately $33,173,004.34. The trade was a 34.42% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 151,069 shares of company stock valued at $126,191,753. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of STX. Sivia Capital Partners LLC acquired a new position in shares of Seagate Technology during the second quarter worth about $262,000. Zacks Investment Management acquired a new stake in Seagate Technology in the third quarter valued at about $305,000. L2 Asset Management LLC boosted its holdings in Seagate Technology by 8.1% in the 4th quarter. L2 Asset Management LLC now owns 1,075 shares of the data storage provider’s stock valued at $296,000 after purchasing an additional 81 shares in the last quarter. Integrated Investment Consultants LLC acquired a new position in Seagate Technology during the 3rd quarter worth approximately $289,000. Finally, MinichMacGregor Wealth Management LLC acquired a new position in Seagate Technology during the 4th quarter worth approximately $260,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Seagate’s core investment case remains supported by strong demand for high-capacity nearline hard drives used in cloud and AI data centers. Rising exabyte shipments and momentum for its Mozaic platform could support revenue growth, margins and fiscal-year guidance. Can Increasing HDD Exabyte Shipments Bolster Seagate’s Q4 Earnings?
• Positive Sentiment: Morgan Stanley continues to express strong conviction in Seagate and Western Digital, arguing that the hard-disk-drive market has strengthened rather than weakened as AI infrastructure investment increases. Seagate, Western Digital Slide Again
• Positive Sentiment: Wedbush raised its price target ahead of the report, reflecting optimism about Seagate’s AI-driven storage opportunity and earnings potential. Wedbush Just Raised Its Price Target on Seagate Stock
• Neutral Sentiment: Options traders are positioning for a substantial post-earnings move, signaling unusually high volatility around the fiscal fourth-quarter results and management’s forward guidance. Here’s How Much Traders See Seagate Stock Moving After Earnings
• Negative Sentiment: The stock’s rally has moved well beyond what management’s prior guidance explicitly supported, raising the risk of profit-taking or a sell-the-news reaction unless results and the outlook materially exceed expectations. Seagate’s Stock Rally Has Outrun Its Own Guidance
• Negative Sentiment: Memory and storage shares are facing broad sector pressure, while concerns about tariffs affecting semiconductor trading partners are adding to caution ahead of earnings. Another Memory Massacre Is Inbound on Tuesday
• Negative Sentiment: Jim Cramer’s warning for leveraged AI investors is reinforcing broader de-risking in AI infrastructure stocks, potentially increasing selling pressure in high-beta names such as STX. Jim Cramer Tells Leveraged AI Investors Sell It

Wall Street Analyst Weigh In

A number of research analysts recently commented on STX shares. Cantor Fitzgerald increased their target price on shares of Seagate Technology from $1,000.00 to $1,300.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a research report on Wednesday, June 24th. Barclays upped their price objective on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Bank of America raised their price objective on Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Finally, Wells Fargo & Company raised Seagate Technology from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $900.00 to $1,100.00 in a report on Friday, July 10th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $898.52.

About Seagate Technology

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.