Cantor Fitzgerald Has Weak Estimate for STX FY2025 Earnings

Seagate Technology Holdings plc (NASDAQ:STX) – Equities research analysts at Cantor Fitzgerald cut their FY2025 earnings per share (EPS) estimates for Seagate Technology in a note issued to investors on Monday, April 28th. Cantor Fitzgerald analyst C. Muse now anticipates that the data storage provider will earn $6.60 per share for the year, down from their previous estimate of $6.67. Cantor Fitzgerald currently has a “Neutral” rating and a $120.00 price objective on the stock. The consensus estimate for Seagate Technology’s current full-year earnings is $6.83 per share.

STX has been the subject of several other research reports. UBS Group upped their price target on shares of Seagate Technology from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday. Citigroup reduced their target price on Seagate Technology from $115.00 to $90.00 and set a “buy” rating for the company in a report on Monday, April 14th. Rosenblatt Securities reiterated a “buy” rating and set a $130.00 price target on shares of Seagate Technology in a report on Wednesday. Bank of America reduced their price objective on Seagate Technology from $130.00 to $112.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Finally, Morgan Stanley lowered their target price on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $114.89.

Seagate Technology Trading Up 11.6 %

STX stock opened at $91.03 on Wednesday. Seagate Technology has a one year low of $63.19 and a one year high of $115.32. The firm has a 50-day moving average of $83.59 and a two-hundred day moving average of $93.22. The firm has a market capitalization of $19.27 billion, a PE ratio of 16.64 and a beta of 1.21.

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

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Wednesday, June 25th. Seagate Technology’s payout ratio is presently 52.65%.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 20,000 shares of the 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 approximately $46,988,047.12. This represents a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Seagate Technology

Large investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors lifted its stake in shares of Seagate Technology by 56.5% in the fourth quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider’s stock worth $1,348,262,000 after buying an additional 5,640,443 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Seagate Technology by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider’s stock valued at $2,414,446,000 after acquiring an additional 1,814,821 shares during the period. Marshall Wace LLP acquired a new stake in shares of Seagate Technology in the fourth quarter valued at about $77,341,000. Junto Capital Management LP bought a new position in shares of Seagate Technology in the fourth quarter worth about $60,303,000. Finally, Janus Henderson Group PLC increased its stake in shares of Seagate Technology by 2,853.4% in the fourth quarter. Janus Henderson Group PLC now owns 670,976 shares of the data storage provider’s stock worth $57,925,000 after purchasing an additional 648,257 shares during the period. Institutional investors own 92.87% of the company’s stock.

About Seagate Technology

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.