Wedbush Predicts Reduced Earnings for Seagate Technology

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

Other equities analysts have also recently issued research reports about the stock. StockNews.com cut shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Northland Securities reissued an “outperform” rating and issued a $160.00 price target (up previously from $144.00) on shares of Seagate Technology in a research report on Wednesday. UBS Group raised their price target on shares of Seagate Technology from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday. Mizuho decreased their price target on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Finally, Morgan Stanley decreased their price target on shares of Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $122.56.

Seagate Technology Stock Performance

NASDAQ:STX opened at $108.42 on Wednesday. The stock has a market capitalization of $22.93 billion, a P/E ratio of 19.82 and a beta of 1.06. The company has a 50 day moving average price of $94.55 and a 200 day moving average price of $100.33. Seagate Technology has a fifty-two week low of $82.31 and a fifty-two week high of $115.32.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data 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. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Seagate Technology had a net margin of 14.67% and a negative return on equity of 58.59%. The firm’s quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.34) EPS.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be paid a $0.72 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a yield of 2.66%. Seagate Technology’s dividend payout ratio is presently 52.65%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Monday, December 2nd. The shares were 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 in the company, valued at approximately $64,011,366.51. The trade was a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kian Fatt Chong sold 9,182 shares of Seagate Technology stock in a transaction on Friday, November 8th. The shares were sold at an average price of $105.50, for a total transaction of $968,701.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,073 shares of company stock worth $5,106,149. 0.81% of the stock is owned by company insiders.

Institutional Trading of Seagate Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Seagate Technology in the third quarter valued at about $26,000. Quarry LP purchased a new stake in shares of Seagate Technology in the second quarter valued at about $27,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Seagate Technology by 2,407.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock valued at $36,000 after acquiring an additional 337 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Seagate Technology by 177.9% in the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after acquiring an additional 258 shares in the last quarter. Finally, JFS Wealth Advisors LLC boosted its holdings in shares of Seagate Technology by 232.5% in the third quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock valued at $46,000 after acquiring an additional 293 shares in the last quarter. Hedge funds and other 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.