Seagate Technology (NASDAQ:STX) Updates Q1 2027 Earnings Guidance

Seagate Technology (NASDAQ:STX) issued an update on its first quarter 2027 earnings guidance on Tuesday. The company provided earnings per share guidance of 7.100-7.500 for the period, compared to the consensus estimate of 5.630. The company issued revenue guidance of $4.0 billion-$4.2 billion, compared to the consensus revenue estimate of $3.7 billion.

Seagate Technology Price Performance

STX stock traded down $69.69 on Tuesday, hitting $747.30. 8,756,609 shares of the company’s stock traded hands, compared to its average volume of 4,349,740. Seagate Technology has a 1-year low of $138.30 and a 1-year high of $1,145.00. The stock has a market cap of $167.57 billion, a price-to-earnings ratio of 70.90 and a beta of 2.04. The stock has a fifty day moving average of $894.67 and a 200-day moving average of $615.89. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The firm’s revenue for the quarter was up 44.1% compared to the same quarter last year. During the same period last year, the firm posted $1.90 earnings per share. On average, analysts forecast that Seagate Technology will post 14.14 EPS for the current fiscal year.

Analyst Ratings Changes

STX has been the subject of several research reports. Wedbush raised their price objective on Seagate Technology from $700.00 to $825.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. China Renaissance boosted their target price on Seagate Technology from $802.00 to $983.00 in a research report on Friday, June 12th. Argus upped their target price on Seagate Technology from $450.00 to $750.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Zacks Research lowered Seagate Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Citigroup lifted their price target on Seagate Technology from $1,150.00 to $1,240.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $898.52.

Insiders Place Their Bets

In other Seagate Technology news, CFO Gianluca Romano sold 22,488 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total transaction of $17,410,659.36. Following the completion of the sale, the chief financial officer directly owned 42,847 shares in the company, valued at approximately $33,173,004.34. This trade represents a 34.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of Seagate Technology stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total value of $22,538,700.00. Following the transaction, the chief executive officer directly owned 339,591 shares in the company, valued at approximately $255,131,322.39. This trade represents a 8.12% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 151,069 shares of company stock worth $126,191,753. 0.79% of the stock is owned by corporate insiders.

Seagate Technology News Roundup

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: AI demand drove a significant earnings beat. Seagate reported fiscal fourth-quarter EPS of $5.71, exceeding the $5.10 consensus estimate, while revenue of $3.63 billion topped expectations of $3.50 billion. Net income rose to $1.29 billion from $488 million a year earlier. Seagate Stock Jumps After Blowout Earnings Fueled by AI Demand
• Positive Sentiment: Management issued sharply stronger-than-expected first-quarter fiscal 2027 guidance. Seagate forecast EPS of $7.10-$7.50, well above the $5.63 analyst consensus, and revenue of $4.0-$4.2 billion versus expectations of $3.7 billion. The outlook reflects robust demand for high-capacity hard disk drives used in AI and cloud infrastructure. Seagate forecasts upbeat quarter on strong AI-driven storage demand
• Positive Sentiment: Fiscal 2026 ended with record profitability and cash generation. Annual revenue grew 34%, and free cash flow reached a record $3.1 billion, supporting the case that AI-related storage demand is translating into stronger operating results. Seagate Technology Reports Fiscal Fourth Quarter and Fiscal Year 2026 Financial Results
• Neutral Sentiment: The investment case remains centered on nearline HDD shipments and Seagate’s Mozaic platform. These products are positioned to benefit from rising data-storage requirements as AI infrastructure expands, but investors are likely to monitor whether demand and pricing remain sustainable.
• Negative Sentiment: Valuation and profit-taking created a high bar for the results. Seagate’s stock had already rallied roughly 450%, meaning even strong results could prompt investors to lock in gains if the guidance did not exceed increasingly aggressive expectations. Seagate’s Stock Rally Has Outrun Its Own Guidance
• Negative Sentiment: Sector weakness and tariff concerns added pressure. Memory and storage stocks were broadly weak before the report, while new U.S. tariffs and concerns about an overheated AI trade weighed on sentiment. Memory and storage stocks see large premarket losses

Institutional Trading of Seagate Technology

A number of hedge funds have recently made changes to their positions in STX. Rakuten Securities Inc. increased its stake in Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after buying an additional 168 shares during the period. Quarry LP acquired a new stake in shares of Seagate Technology during the 4th quarter valued at $31,000. Palisade Asset Management LLC purchased a new position in shares of Seagate Technology during the 3rd quarter valued at $37,000. Larson Financial Group LLC increased its stake in shares of Seagate Technology by 41.9% in the third quarter. Larson Financial Group LLC now owns 166 shares of the data storage provider’s stock worth $39,000 after acquiring an additional 49 shares during the last quarter. Finally, Birchwood Financial Partners Inc. acquired a new position in shares of Seagate Technology in the fourth quarter worth $41,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

About Seagate Technology

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.