Seagate Technology (STX)

We are raising our F2026/F2027E (Jun) EPS for Seagate (STX; $223.00; O/P) from $10.55/$13.50 to $11.05/$13.45 after the company handily beat our and consensus expectations for FQ1 (Sep) and provided FQ2E (Dec) guidance that comfortably…

Seagate (STX; $223.00; O/P) reported FQ1 (Sep) non-GAAP EPS of $2.61, which beat our $2.32 and the Street’s $2.40 on sales upside ($2,629mm vs. our $2,513mm and the Street’s $2,548mm). Recall, STX’s FQ1 guidance called…

The shares of Seagate (STX; $214.57; O/P) have now retreated 16% since hitting a record high on October 1st (including -5% this week) with FQ1E (Sep) results and guidance on the horizon for next Tuesday…

We reiterate our Outperform and raise our price target from $175 to $185 as we bump up our F2026E (Jun) EPS from $10.25 to $10.55 (+30% YoY and vs. prior record EPS of $8.18 in…

Seagate (STX; $152.68; O/P) reported FQ4 (Jun) non-GAAP EPS of $2.59, which was comfortably ahead of our $2.38 and the Street’s $2.45 on solid sales upside ($2,444mm vs. our $2,397mm and the Street’s $2,421mm). Recall,…

We look for a healthy “beat and raise” from Seagate (STX; $148.99; O/P) when it reports FQ4 (Jun) results and outlook on July 29th (after market close). The stock still trades at only 12.6X our…

We are raising our F2026E (Jun) EPS for Seagate (STX; $127.23; O/P) from $9.80 to $10.25 (+30% YoY) to correct for our misunderstanding of the company’s new financial targets from its Analyst and Investor Event…

We reiterate our Outperform while raising our F2026E (Jun) EPS from $9.25 to $9.80, and our target from $130 to $140 on the shares of Seagate (STX; $108.86) after attending its Analyst and Investor Event…

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…