Zacks Research Issues Negative Outlook for STX Earnings

Seagate Technology Holdings plc (NASDAQ:STX) – Zacks Research reduced their Q1 2026 earnings per share (EPS) estimates for Seagate Technology in a note issued to investors on Tuesday, May 20th. Zacks Research analyst R. Department now expects that the data storage provider will post earnings of $1.90 per share for the quarter, down from their prior forecast of $2.01. The consensus estimate for Seagate Technology’s current full-year earnings is $6.83 per share.

A number of other brokerages also recently issued reports on STX. Wedbush reiterated an “outperform” rating and set a $140.00 price target on shares of Seagate Technology in a report on Wednesday. UBS Group lifted their price objective on shares of Seagate Technology from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. BNP Paribas raised Seagate Technology from a “strong sell” rating to a “hold” rating in a report on Friday, May 16th. Benchmark upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company lowered their price objective on Seagate Technology from $120.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $116.21.

Seagate Technology Stock Down 2.4%

Shares of STX opened at $104.43 on Thursday. Seagate Technology has a fifty-two week low of $63.19 and a fifty-two week high of $115.32. The firm’s 50 day moving average price is $85.77 and its 200 day moving average price is $92.60. The company has a market cap of $22.16 billion, a P/E ratio of 19.09 and a beta of 1.32.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.15. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The company’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 EPS.

Institutional Trading of Seagate Technology

A number of hedge funds have recently added to or reduced their stakes in the stock. MBB Public Markets I LLC acquired a new position in shares of Seagate Technology in the first quarter valued at approximately $300,000. United Services Automobile Association purchased a new position in Seagate Technology in the 1st quarter valued at $385,000. Meiji Yasuda Asset Management Co Ltd. increased its stake in Seagate Technology by 6.2% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,314 shares of the data storage provider’s stock valued at $366,000 after buying an additional 250 shares during the period. Jones Financial Companies Lllp increased its stake in Seagate Technology by 77.4% in the 1st quarter. Jones Financial Companies Lllp now owns 17,351 shares of the data storage provider’s stock valued at $1,474,000 after buying an additional 7,569 shares during the period. Finally, Panoramic Capital LLC raised its position in Seagate Technology by 591.8% during the 1st quarter. Panoramic Capital LLC now owns 131,433 shares of the data storage provider’s stock worth $11,165,000 after buying an additional 112,433 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the transaction, the chief executive officer now owns 555,677 shares of the company’s stock, valued at $46,988,047.12. This trade represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.81% of the company’s stock.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Wednesday, June 25th will be issued a $0.72 dividend. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.76%. Seagate Technology’s payout ratio is 41.62%.

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.