Cantor Fitzgerald Has Optimistic View of STX FY2025 Earnings

Seagate Technology Holdings plc (NASDAQ:STX) – Equities researchers at Cantor Fitzgerald upped their FY2025 earnings estimates for Seagate Technology in a note issued to investors on Wednesday, April 30th. Cantor Fitzgerald analyst C. Muse now anticipates that the data storage provider will post earnings of $7.07 per share for the year, up from their previous forecast of $6.60. Cantor Fitzgerald currently has a “Neutral” rating and a $120.00 target price on the stock. The consensus estimate for Seagate Technology’s current full-year earnings is $6.83 per share.

A number of other brokerages have also commented on STX. Citigroup decreased their price target on shares of Seagate Technology from $115.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group dropped their price target on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Summit Insights upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Mizuho dropped their target price on Seagate Technology from $115.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday, April 10th. Finally, Morgan Stanley reduced their price target on shares of Seagate Technology from $133.00 to $129.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $114.89.

Seagate Technology Trading Up 3.4 %

Shares of NASDAQ STX opened at $93.07 on Friday. The business has a 50-day moving average of $83.26 and a 200-day moving average of $92.82. The firm has a market capitalization of $19.70 billion, a price-to-earnings ratio of 17.01 and a beta of 1.31. Seagate Technology has a 12 month low of $63.19 and a 12 month high of $115.32.

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

Institutional Trading of Seagate Technology

A number of hedge funds have recently modified their holdings of STX. Ameriflex Group Inc. bought a new stake in shares of Seagate Technology in the 4th quarter worth approximately $26,000. Elequin Capital LP purchased a new stake in shares of Seagate Technology in the fourth quarter worth $27,000. Fourth Dimension Wealth LLC bought a new position in shares of Seagate Technology during the fourth quarter valued at $27,000. Wayfinding Financial LLC purchased a new position in shares of Seagate Technology in the 1st quarter worth about $31,000. Finally, Golden State Wealth Management LLC boosted its stake in Seagate Technology by 2,200.0% in the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider’s stock worth $39,000 after purchasing an additional 440 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total value of $1,691,200.00. Following the sale, the chief executive officer now directly owns 555,677 shares of the company’s stock, valued at $46,988,047.12. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.81% of the stock is owned by corporate insiders.

Seagate Technology Announces Dividend

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 paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $2.88 annualized dividend and a dividend yield of 3.09%. Seagate Technology’s dividend payout ratio (DPR) is presently 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.