Seagate Technology Holdings Plc (NASDAQ:STX) on Tuesday posted better-than-expected fourth-quarter results.
Seagate reported quarterly earnings of $5.71 per share, which beat the Street estimate of $5.09 by 12.18%, according to Benzinga Pro data. Quarterly revenue came in at $3.63 billion, which beat the consensus estimate of $3.49 billion and was up from $2.44 billion in the same period last year.
"Seagate’s strong fourth quarter exceeded our expectations for revenue and non-GAAP EPS, capping a fiscal 2026 in which we grew annual revenue 34%, delivered record profitability and generated a record $3.1 billion in free cash flow," said CEO Dave Mosley.
Seagate expects first quarter revenue of $4.1 billion, plus or minus $100 million, and non-GAAP diluted EPS of $7.30, plus or minus 20 cents.
Seagate shares rose 2% to trade at $762.37 on Wednesday.
These analysts made changes to their price targets on Seagate following earnings announcement.
- Citigroup analyst Asiya Merchant maintained the stock with a Buy and raised the price target from $1,240 to $1,300.
- Rosenblatt analyst Kevin Cassidy maintained the stock with a Buy and raised the price target from $1,300 to $1,400.
- Wells Fargo analyst Aaron Rakers maintained the stock with an Overweight rating and boosted the price target from $1100 to $1180.
Considering buying STX stock? Here’s what analysts think:
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