Latest news with #SeagateTech
The Star
30-07-2025
- Business
- The Star
Seagate forecasts first-quarter revenue and profit below estimates, shares slump
FILE PHOTO: A Seagate Tech external computer hard drive is shown in this photo illustration in Encinitas, California, U.S., January 23, 2017. REUTERS/Mike Blake/File Photo (Reuters) -Seagate Technology forecast first-quarter revenue slightly below Wall Street expectations on Tuesday, hurt by weak demand for its storage devices amid ongoing uncertainty in the personal computer market, sending its shares down 8% in extended trading. Despite optimism surrounding on-device AI features and an anticipated Windows 11 refresh cycle, end-market demand for PCs remains uncertain as consumers navigate a shifting macroeconomic and global trade landscape. The company expects revenue for the first quarter ending September to be $2.50 billion, plus or minus $150 million, falling short of analysts' average estimate of $2.51 billion, according to data compiled by LSEG. Adjusted profit for the quarter is projected at $2.30 per share, plus or minus 20 cents, compared with the consensus estimate of $2.33 per share. Growth in the PC market remains uncertain after customers advanced shipments into the first half of the year amid trade negotiations, according to analysts. Global PC shipments rose 6.5% in the June quarter, according to data from International Data Corporation. For the fourth quarter ended June 27, Seagate reported revenue of $2.44 billion, slightly above analysts' estimate of $2.43 billion. The company posted adjusted earnings of $2.59 per share, topping expectations of $2.45. Seagate said its first-quarter forecast accounts for the net dilutive impact of its exchangeable senior notes due in 2028 and anticipates minimal effect from current global tariff policies. (Reporting by Arsheeya Bajwa in Bengaluru; Editing by Tasim Zahid)
Business Insider
30-04-2025
- Business
- Business Insider
Mizuho Securities Remains a Buy on Seagate Tech (STX)
Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating on Seagate Tech (STX – Research Report) yesterday and set a price target of $100.00. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Rakesh covers the Technology sector, focusing on stocks such as Nvidia, NXP Semiconductors, and Intel. According to TipRanks, Rakesh has an average return of 3.2% and a 36.67% success rate on recommended stocks. In addition to Mizuho Securities, Seagate Tech also received a Buy from Robert W. Baird's Tristan Gerra in a report issued yesterday. However, on April 28, Cantor Fitzgerald maintained a Hold rating on Seagate Tech (NASDAQ: STX). The company has a one-year high of $115.32 and a one-year low of $63.19. Currently, Seagate Tech has an average volume of 3.7M. Based on the recent corporate insider activity of 96 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of STX in relation to earlier this year. Earlier this month, William Mosley, the CEO of STX sold 13,200.00 shares for a total of $1,118,964.00.
