Latest news with #SeagateTechnologyHoldings
Yahoo
16-06-2025
- Business
- Yahoo
BofA Lifts Seagate Technology (STX) PT to $145 Following BofA Global Technology Conference
Seagate Technology Holdings (NASDAQ:STX) is one of the 8 Best Inexpensive Stocks to Buy Right Now. On June 9, Bank of America raised its price target for Seagate to $145 from $135, while maintaining a Buy rating on the stock. This optimism follows the 2025 BofA Global Technology Conference, where the analyst gained a more bullish outlook on the Hard Disk Drive/HDD industry. BofA anticipates that rising hyperscaler demand will outpace Exabyte production growth in the upcoming quarters, which suggests a favorable environment for Seagate and the broader HDD sector. In FQ3 2025, the company reported revenue of $2.16 billion for the quarter, which was a 31% year-on-year increase. Hard Drive Revenue alone was $2 billion. A technician configuring a network-attached storage drive. The company achieved its eighth consecutive quarter of gross margin expansion in FQ3 and recorded its third-highest operating margin in history. Seagate's advanced HAMR-based Mozaic drives, which are the industry's only 3 terabyte per disk products, are now ramping up volume to qualified customers. The company has strong demand visibility extending into H1 2026, with new build-to-order agreements currently under negotiation. Seagate Technology Holdings (NASDAQ:STX) provides data storage technology and infrastructure solutions internationally. It sells its products primarily to OEMs, distributors, and retailers. While we acknowledge the potential of STX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
29-05-2025
- Business
- Yahoo
Seagate Technology Holdings (NasdaqGS:STX) Reports Strong Q3 Earnings
Seagate Technology Holdings recently reported strong third-quarter earnings, showcasing significant year-over-year growth in sales and net income. Additionally, the company raised its equity buyback authorization by $5 billion, highlighting a commitment to enhancing shareholder value. These developments may align with Seagate's notable 43% share price surge in the past month. The broader Nasdaq Composite's gains, partly fueled by the tech sector's rally following Nvidia's earnings, provided a favorable backdrop for Seagate's rise, while changes in the executive board and announced dividends possibly added further support to the overall positive sentiment. You should learn about the 4 risks we've spotted with Seagate Technology Holdings (including 3 which don't sit too well with us). Find companies with promising cash flow potential yet trading below their fair value. The recent news of Seagate Technology Holdings boosting its equity buyback program could bolster investor confidence, potentially influencing future share value. The buyback might reduce the number of shares outstanding, which could positively affect earnings per share. However, the long-term financial gains will heavily rely on how well the company manages factors like competition and manufacturing efficiencies, as outlined in the company's narrative. Despite these challenges, Seagate remains focused on capitalizing on technological advancements and expanding demand for mass capacity storage solutions to enhance revenue streams. Over the past five years, Seagate has seen a total shareholder return of 166.77%, illustrating substantial long-term growth. When compared to the broader U.S. market return of 11.3% in the past year, Seagate's 1-year performance has outpaced these returns, indicating a stronger recent performance relative to the market. However, growth forecasts suggest more modest future increases in earnings and revenue. Seagate's recent share price surge places it in close proximity to the consensus price target of US$116.08, reflecting a slight discount that suggests room for potential appreciation. The earnings growth forecast and Seagate's strategic initiatives are critical elements that could further influence its trajectory toward this target. The alignment of Seagate's strategic goals with the capital market's performance metrics will be crucial in sustaining investor interest and achieving projected revenue growth. Click here and access our complete financial health analysis report to understand the dynamics of Seagate Technology Holdings. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqGS:STX. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
Channel Post MEA
23-05-2025
- Business
- Channel Post MEA
Seagate Hosts 2025 Investor And Analyst Event
Seagate Technology Holdings hosted its 2025 Investor and Analyst Event and outlined the Company's clear strategy to capture growth opportunities ahead, drive profitability and build long-term value for customers and shareholders. 'Technology innovation and AI are fueling exponential data growth and driving demand for the hard drive storage industry. Seagate today is uniquely positioned to capture this opportunity with our Mozaic portfolio powered by market-leading HAMR technology. Our differentiated portfolio addresses critical data center challenges, including cost, scale and sustainability, enabling us to deliver storage solutions for customers from cloud to edge,' said Dave Mosley, Seagate's chief executive officer. 'Since our last Investor and Analyst Event in 2021, we have made structural improvements to extend demand visibility, maintain supply discipline, optimize product mix, and streamline cost structure. We are a stronger company today thanks to the dedicated efforts of our global team. This is an incredibly exciting time at Seagate, and we are confident we have the right technology and strategy to lead the next era of storage in today's data-driven world, while delivering enhanced value to shareholders,' concluded Mosley. During the event, the Company outlined new financial targets for the period through FY2028, which are supported by the adoption of HAMR technology. Additionally, Seagate announced today that its Board of Directors has increased Seagate's share repurchase authorization to $5 billion, underscoring its commitment to capital returns and confidence in the future. The authorization does not have a time limit and any share repurchases will be dependent on Seagate's financial position, results of operations, available cash, cash flow, capital requirements, distributable reserves, and other factors deemed relevant by the Company. 0 0
Yahoo
07-05-2025
- Business
- Yahoo
Seagate Bets On Mega-Sized, Sustainable Drives As AI Sparks Record Data Demand
Seagate Technology Holdings (NASDAQ:STX) is amid efforts to develop a 100-terabyte hard drive by 2030. Seagate's chief commercial officer, BS Teh, told CNBC on Wednesday that the data storage firm aims to launch a drive with about three times the capacity of its top-notch hard drives by 2030. The largest hard disk drive Seagate currently produces is the 36-terabyte Exos M model. Also Read: Western Digital Refocuses Post-SanDisk Spin-Off As Analyst Highlights AI-Led HDD Growth Teh expressed conviction in strong demand, underlining the need for the 100-terabyte hard drive. Teh also said Seagate is amid efforts to counter climate concerns surrounding AI's energy demands. Teh expressed conviction in hard disk drive prospects, citing it as a much more sustainable device technology. Big Tech's 2025 AI infrastructure investments included Inc.'s (NASDAQ:AMZN) $100 billion, followed by Microsoft Corp (NASDAQ:MSFT) and Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) at $80 billion each, and Meta committing over $60 billion. Microsoft expects to spend $80 billion on data centers in fiscal 2025. February reports indicated Meta Platforms, Inc. (NASDAQ:META) is in talks to build an AI data center campus that could exceed $200 billion in costs. Seagate Technology Holdings stock gained close to 9% year-to-date. It reported third-quarter sales of $2.16 billion (versus $1.66 billion Y/Y), missing the analyst estimate of $2.31 billion. It reported adjusted earnings per share of $1.90, missing the analyst estimate of $2.09. Seagate expects fourth-quarter revenue of $2.25 billion-$2.55 billion, versus the $2.43 billion estimate, and adjusted earnings of $2.20-$2.60 per share, versus the $2.20 analyst estimate. Price Action: STX stock is up 1.16% at $94.99 at the last check on Wednesday. Read Next: Photo via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Seagate Bets On Mega-Sized, Sustainable Drives As AI Sparks Record Data Demand originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Yahoo
06-05-2025
- Business
- Yahoo
Seagate Technology Holdings (NasdaqGS:STX) Soars 40% Over Last Month
Seagate Technology Holdings witnessed a remarkable 40% increase in its share price over the past month, driven in part by its impressive Q3 earnings. The company reported sales of $2,160 million, a significant rise from $1,655 million year-over-year, and net income of $340 million, up from $25 million. The declaration of a $0.72 per share dividend and optimistic guidance for fiscal Q4 2025 further bolstered investor confidence. In contrast, the broader market faced some volatility due to trade policy uncertainties, making Seagate's robust performance stand out amidst these broader economic conditions. We've identified 4 risks for Seagate Technology Holdings (3 are concerning) that you should be aware of. NasdaqGS:STX Earnings Per Share Growth as at May 2025 Rare earth metals are the new gold rush. Find out which 24 stocks are leading the charge. The recent 40% boost in Seagate Technology Holdings' share price, driven by strong Q3 earnings and robust guidance, aligns well with the company's strengthening demand for data storage solutions. This momentum is likely to influence the projected revenue growth and could enhance earnings forecasts, supported by the company's ongoing innovation in Mozaic drives and strategic pricing initiatives. The declared dividend also indicates a commitment to returning value to shareholders, potentially reinforcing investor confidence. Over the past five years, Seagate's total shareholder return, including dividends, was 126.66%, reflecting substantial long-term growth. This growth contrasts with its performance over the past year, where it underperformed the US Tech industry, which saw an 11% return. The recent share price increase narrows the gap with the consensus analyst price target of $107.83, making it 22.9% higher than the current price of $81.6, suggesting room for further appreciation. However, it's essential to consider market volatility and competitive pressures that might impact future valuations and growth prospects. Upon reviewing our latest valuation report, Seagate Technology Holdings' share price might be too pessimistic. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
