Wedbush Forecasts Lower Earnings for Seagate Technology

Seagate Technology Holdings plc (NASDAQ:STX) – Equities research analysts at Wedbush cut their FY2026 earnings per share (EPS) estimates for Seagate Technology in a report released on Tuesday, January 21st. Wedbush analyst M. Bryson now forecasts that the data storage provider will post earnings of $12.87 per share for the year, down from their prior forecast of $13.50. Wedbush has a “Outperform” rating and a $150.00 price objective on the stock. The consensus estimate for Seagate Technology’s current full-year earnings is $7.18 per share.

STX has been the subject of a number of other research reports. Evercore ISI raised their target price on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Bank of America raised their price objective on shares of Seagate Technology from $124.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup boosted their price objective on Seagate Technology from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays increased their target price on Seagate Technology from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Rosenblatt Securities boosted their price target on Seagate Technology from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.56.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $108.18 on Wednesday. Seagate Technology has a 1 year low of $82.31 and a 1 year high of $115.32. The company has a market capitalization of $22.88 billion, a price-to-earnings ratio of 28.25 and a beta of 1.06. The business has a fifty day simple moving average of $94.55 and a two-hundred day simple moving average of $100.33.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the firm earned ($0.34) EPS. The firm’s revenue was up 49.1% compared to the same quarter last year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s payout ratio is presently 75.20%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, SVP Kian Fatt Chong sold 9,182 shares of Seagate Technology stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $105.50, for a total value of $968,701.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $102.83, for a total value of $2,056,600.00. Following the transaction, the chief executive officer now directly owns 622,497 shares of the company’s stock, valued at approximately $64,011,366.51. The trade was a 3.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,073 shares of company stock valued at $5,106,149. Company insiders own 0.81% of the company’s stock.

Institutional Trading of Seagate Technology

Hedge funds have recently added to or reduced their stakes in the stock. Sanders Capital LLC boosted its stake in shares of Seagate Technology by 0.9% during the third quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider’s stock valued at $1,792,742,000 after purchasing an additional 150,115 shares in the last quarter. State Street Corp boosted its position in Seagate Technology by 6.8% during the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock worth $937,081,000 after buying an additional 541,585 shares during the period. Geode Capital Management LLC grew its holdings in Seagate Technology by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider’s stock worth $454,477,000 after acquiring an additional 318,416 shares during the last quarter. Franklin Resources Inc. increased its position in Seagate Technology by 29.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock valued at $197,844,000 after acquiring an additional 405,232 shares during the period. Finally, Duquesne Family Office LLC increased its position in Seagate Technology by 22.0% in the 2nd quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock valued at $181,268,000 after acquiring an additional 316,295 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

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.