Seagate Technology (STX)

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…

We think underlying fundamentals behind Seagate’s (STX; $109.10; E/W) positive FQ4 (Jun) guidance update last month should comfortably support our and Street’s F2025E (Jun) forecasts, especially when it comes to gross margins, when it reports…

We are raising our F2024/F2025E (Jun) EPS for Seagate (STX; $91.85; E/W) from $0.93/$5.40 to $1.10/$5.85 after the company’s CFO Gianluca Romano provided a positive update at an investor conference earlier today. Specifically, STX now…

We raise our F2024/F2025E (Jun) EPS for Seagate (STX; $86.53; E/W) from $0.75/$4.35 to $0.93/$5.40 after FQ3 (Mar) results and guidance generally lived up to expectations across key metrics, albeit with “puts and takes”. STX…

Seagate (STX; $86.49; E/W) reported FQ3 (Mar) non-GAAP EPS of $0.33, which was ahead of our $0.30 estimate and the Street’s $0.29 despite moderately lower than expected sales ($1,655mm vs. our $1,662mm and the Street’s…

The shares of Seagate (STX; $85.19; E/W) are -10% since it “only” reiterated FQ3E (Mar) sales and EPS guidance of $1.5-1.8B (+6% QoQ and -11% YoY at the mid-point) and $0.05-0.45 back on March 6th….

Seagate’s (STX; $89.17; E/W) FQ2 (Dec) results and outlook provided further confirmation for the idea that the company is now on a consistent recovery track, discussed below, per the expected improvement in key FQ2 metrics…

Seagate (STX; $89.17; E/W) reported FQ2 (Dec) non-GAAP EPS of a profit of $0.12, which comfortably beat our estimate of a ($0.03) loss and the Street’s ($0.06) on sales of $1,555mm (vs. our $1,582mm and…

We are bumping up our FQ2E (Dec) EPS for Seagate (STX; $83.33; E/W) from ($0.13) to ($0.03) to account for management commentary in recent weeks that suggested some better HDD shipments in the quarter (measured…

We adjust F2024/F2025E (Jun) EPS for Seagate (STX; $65.84; E/W) from ($0.03)/$2.65 to ($0.15)/$3.00 after its FQ1 (Sep) results generally lived up to recently lowered targets, with puts and takes, but FQ2E (Dec) guidance was…

We reduce our F2024E (Jun) EPS for Seagate (STX; $65.37; E/W) from a profit of $0.13 to a loss of ($0.03) to catch up with the management warnings last week at an investor conference that…

We reduce F2024E (Jun) EPS for Seagate (STX; $61.46; E/W) from $1.25 to $0.13 after another round of disappointing guidance. On the plus side, management seems to have finally “thrown in the towel” around expectations…

We are reducing our FQ4 (Jun) and F2024E (Jun) EPS for Seagate (STX; $61.57; E/W) ahead of the company’s release of full FQ4 results on July 26th (after market). Recall, STX warned at an investor…

Last Thursday (6/1), we hosted an investor meeting at Seagate’s (STX; $60.86; E/W) offices in San Jose, CA where we met with Rod Cooper, VP Finance, and IR, along with Jingjing Chen from the IR…

We are cutting F2023/F2024E (Jun) EPS further for Seagate (STX; $57.08; E/W) after the company produced an FQ3 (Mar) “miss and lower” that more than confirmed our ongoing concerns around cloud and IT spending, customer…