Seagate Technology (STX)

We raise F2025/F2026E (Jun) EPS for Seagate (STX; $81.60; O/P) from $7.55/$8.80 to $7.90/$9.25 after the company’s healthy “beat and raise”, supporting the idea that cloud data center spending, and associated demand for high capacity…

Seagate (STX; $81.60; O/P) reported FQ3 (Mar) non-GAAP EPS of $1.90, which was comfortably ahead of our $1.75 and the Street’s $1.74 on sales of $2,160mm (vs. our $2,138mm and the Street’s $2,124mm). Recall, STX’s…

Our recent checks suggest Seagate (STX; $72.00; O/P) highlights that near term demand for its “core” mass capacity hard disk drives (HDDs) is holding up well into the June quarter (80-85% of sales), when it…

This morning, Seagate (STX; $101.40; O/P) announced it reached an agreement to acquire Intevac (IVAC; $4.04; NR), which is a supplier of thin-film processing technology and manufacturing systems that are utilized in the production of…

We reiterate our Outperform and $130 target on the shares of Seagate (STX; $103.95; O/P) after hosting an investor call on Friday (1/24) for CFO Gianluca Romano and Shanye Hudson, SVP, IR and Treasury to…

We reiterate our Outperform and $130 target on the shares of Seagate (STX; $101.25) after it reported a better-than-expected FQ2 (Dec) EPS, which importantly was driven by much better-than-expected gross margins. STX also provided FQ3E…

Seagate (STX; $101.25; O/P) reported FQ2 (Dec) non-GAAP EPS of $2.03, which beat our $1.87 and the Street’s $1.88 on the back of much better-than-expected gross margins as sales of $2,325mm compared to our $2,313mm…

We think the shares of Seagate (STX; $94.34; O/P), which are down 16% since mid-October (vs. +2% for the S&P 500), remain oversold ahead of FQ2 (Dec) results and outlook, scheduled for Tuesday (1/21 after…

Earlier this week, executives from Seagate (STX; $98.18; O/P) provided a few meaningful updates ahead of presenting at a couple of investor conferences, including that it: (1) cleared important product qualification hurdles tied to the…

We raise our rating on the shares of Seagate (STX; $104.55) from Equal-Weight to Outperform after the company provided its most convincing evidence to date for the idea that it can continue to benefit from…

Seagate (STX; $112.64; E/W) reported FQ1 (Sep) non-GAAP EPS of 1.58, which compared to our $1.60 and the Street’s relatively stale $1.48 since management noted in early-September that EPS would likely be at the high…

For the second quarter in a row, Seagate (STX; $111.79; E/W), reporting FQ1 (Sept) results and outlook next Tuesday (10/22 after market), guided up with a month to go in the quarter with the news…

We are raising our F2025E (Jun) EPS for Seagate (STX; $100.81; E/W) from $7.00 to $7.18 after CFO Gianluca Romano offered up a positive FQ1E (Sept) update at an investor conference earlier this week. Specifically,…

We raise F2025E (Jun) EPS for Seagate (STX; $105.30; E/W) from $5.85 to $7.00 after it produced FQ4 (Jun) EPS that handily beat the high end of its guidance, which management communicated in early-June was…

Seagate (STX; $105.30; E/W) reported FQ4 (Jun) non-GAAP EPS of $1.05, which beat our $0.87. By comparison, the Street was modeling $0.75, which we have viewed as “stale” since the company’s positive update in early-June…