Analysts Offer Predictions for Seagate Technology Holdings plc’s FY2024 Earnings (NASDAQ:STX)

Seagate Technology Holdings plc (NASDAQ:STX) – Northland Capmk issued their FY2024 earnings estimates for shares of Seagate Technology in a note issued to investors on Wednesday, April 24th. Northland Capmk analyst G. Richard anticipates that the data storage provider will post earnings per share of $0.43 for the year. The consensus estimate for Seagate Technology’s current full-year earnings is $0.30 per share. Northland Capmk also issued estimates for Seagate Technology’s Q4 2024 earnings at $0.59 EPS, Q1 2025 earnings at $1.05 EPS, Q2 2025 earnings at $1.35 EPS, Q3 2025 earnings at $1.43 EPS, Q4 2025 earnings at $1.66 EPS, FY2025 earnings at $5.46 EPS and FY2026 earnings at $9.41 EPS.

A number of other research firms also recently issued reports on STX. Rosenblatt Securities lifted their price objective on shares of Seagate Technology from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, January 25th. UBS Group raised their target price on shares of Seagate Technology from $90.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Cantor Fitzgerald raised their target price on shares of Seagate Technology from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Barclays decreased their target price on shares of Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. Finally, TD Cowen raised their target price on shares of Seagate Technology from $85.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $94.53.

Seagate Technology Stock Down 1.4 %

NASDAQ STX opened at $86.04 on Monday. Seagate Technology has a 12-month low of $54.47 and a 12-month high of $101.26. The company has a market capitalization of $18.03 billion, a PE ratio of -66.70, a price-to-earnings-growth ratio of 474.05 and a beta of 1.04. The firm’s 50 day moving average is $89.25 and its 200-day moving average is $83.02.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the business earned ($0.43) earnings per share. Seagate Technology’s revenue for the quarter was down 11.0% on a year-over-year basis.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, June 20th. Seagate Technology’s dividend payout ratio (DPR) is presently -217.05%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of STX. CWM LLC raised its stake in Seagate Technology by 3.9% during the fourth quarter. CWM LLC now owns 3,441 shares of the data storage provider’s stock worth $294,000 after acquiring an additional 130 shares in the last quarter. Global Retirement Partners LLC raised its stake in Seagate Technology by 8.6% during the first quarter. Global Retirement Partners LLC now owns 1,735 shares of the data storage provider’s stock worth $161,000 after acquiring an additional 138 shares in the last quarter. Valley National Advisers Inc. raised its stake in Seagate Technology by 39.7% during the fourth quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock worth $43,000 after acquiring an additional 144 shares in the last quarter. NewEdge Wealth LLC increased its stake in shares of Seagate Technology by 3.6% in the third quarter. NewEdge Wealth LLC now owns 4,214 shares of the data storage provider’s stock valued at $278,000 after buying an additional 146 shares during the period. Finally, Brighton Jones LLC increased its stake in shares of Seagate Technology by 0.8% in the fourth quarter. Brighton Jones LLC now owns 18,754 shares of the data storage provider’s stock valued at $1,601,000 after buying an additional 150 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.