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

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

Seagate Technology Price Performance

NASDAQ STX traded up $13.47 on Tuesday, reaching $371.76. The company had a trading volume of 5,878,359 shares, compared to its average volume of 3,734,722. Seagate Technology has a 1 year low of $63.19 and a 1 year high of $383.88. The firm has a 50-day moving average of $291.10 and a 200-day moving average of $232.11. The firm has a market capitalization of $79.39 billion, a PE ratio of 47.72, a P/E/G ratio of 1.04 and a beta of 1.60.

Key Stories Impacting Seagate Technology

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

Analyst Ratings Changes

STX has been the topic of a number of recent research reports. The Goldman Sachs Group upped their target price on Seagate Technology from $280.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Robert W. Baird lifted their price target on Seagate Technology from $188.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Argus boosted their target price on shares of Seagate Technology from $170.00 to $300.00 and gave the company a “strong-buy” rating in a report on Thursday, October 30th. Morgan Stanley boosted their price objective on shares of Seagate Technology from $337.00 to $372.00 and gave the company an “overweight” rating in a research note on Thursday, January 22nd. Finally, Rosenblatt Securities increased their target price on Seagate Technology from $270.00 to $370.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Seagate Technology currently has an average rating of “Moderate Buy” and an average price target of $357.45.

Insiders Place Their Bets

In related news, EVP Kian Fatt Chong sold 7,078 shares of the firm’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $272.14, for a total transaction of $1,926,206.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $262.82, for a total value of $5,256,400.00. Following the sale, the chief executive officer owned 465,668 shares of the company’s stock, valued at $122,386,863.76. This represents a 4.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 132,557 shares of company stock valued at $36,847,793. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors have recently made changes to their positions in the business. Sivia Capital Partners LLC bought a new position in shares of Seagate Technology during the second quarter valued at approximately $262,000. EP Wealth Advisors LLC bought a new stake in shares of Seagate Technology in the 2nd quarter worth approximately $265,000. First Foundation Advisors acquired a new position in Seagate Technology during the 3rd quarter valued at approximately $236,000. Polymer Capital Management HK LTD bought a new position in Seagate Technology during the 3rd quarter worth $236,000. Finally, L2 Asset Management LLC bought a new stake in Seagate Technology in the third quarter valued at $235,000. 92.87% of the stock is owned by institutional investors and hedge funds.

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.