Seagate Technology Preps for Earnings Amid Significant Growth Projections
Seagate Technology Holdings plc (STX), with a market capitalization of $14.1 billion, specializes in mass data storage infrastructure solutions. The Singapore-based company offers a variety of primary products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid-state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.
Scheduled for Tuesday, April 22, Seagate is expected to release its fiscal Q3 2025 earnings results. Analysts anticipate that STX will report adjusted earnings of $1.52 per share, reflecting an impressive increase of 794.1% compared to $0.17 per share during the same quarter last year. The company has consistently exceeded Wall Street’s bottom-line estimates in the past four quarters.
Fiscal 2025 Expectations and Future Earnings Growth
For the fiscal year 2025, analysts forecast Seagate Technology to report adjusted earnings per share (EPS) of $6.83, which represents a remarkable increase of 889.9% from $0.69 in fiscal 2024. Furthermore, earnings are expected to continue growing nearly 56.7% year-over-year, projecting to reach $10.70 in fiscal 2026.
Over the past 52 weeks, STX stock has declined by 23.7%, underperforming both the S&P 500 Index, which has slightly dipped 2.7%, and the Technology Select Sector SPDR Fund (XLK), which has seen an 11.1% drop.
After the release of its robust Q2 2025 results on January 21, Seagate Technology’s stock rose by 6.8%. The company reported earnings of $2.03 per share, surpassing consensus estimates significantly, while revenues totaled $2.3 billion, exceeding analyst expectations. For Q3 2025, the company projects revenues in the range of $1.95 billion to $2.25 billion and expects earnings between $1.50 and $1.90 per share. Seagate is also advancing its technology roadmap to better meet the increasing AI-driven demands of its customers.
Strategic Updates and Analyst Consensus
On February 13, STX announced plans to acquire Intevac, a provider of thin-film processing systems, leading to a 2.3% increase in the stock price. This acquisition aims to strengthen Seagate’s storage capabilities by integrating Intevac’s HDD-specific thin-film processing technology.
Analysts maintain a moderately optimistic outlook for STX, currently holding a “Moderate Buy” rating overall. Among 18 analysts assessing the stock, 11 recommend a “Strong Buy,” one suggests a “Moderate Buy,” four advise a “Hold,” and two recommend a “Strong Sell.” The average price target for STX stands at $118.23, indicating a 72.2% premium over current price levels.
On the date of publication, Aditya Sarawgi did not hold (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is intended solely for informational purposes. For additional details, please review the Barchart Disclosure Policy here.
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