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69 stories mentioning STXUpdated 1d ago

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Wire

Seagate Technology Fiscal Q3 Non-GAAP Earnings, Revenue Rise; Q4 Guidance Set

Seagate Technology (STX) reported fiscal Q3 non-GAAP earnings late Tuesday of $4.10 per diluted share, up from $1.90 a year earlier.Analysts polled by FactSet expected $3.51.Revenue for the quarter that ended April 3 was $3.11 billion, up from $2.16 billion a year earlier.Analysts surveyed by FactSet expected $2.96 billion.The company said it expects fiscal Q4 non-GAAP EPS of $5.00, plus or minus $0.20. Analysts expect $3.99.Fiscal Q4 revenue is estimated to be $3.45 billion, plus or minus $100 million. Analysts expect $3.16 billion.Shares of the company were up 12% in after-hours trading.

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Wire

Morgan Stanley Adjusts Seagate Technology PT to $582 From $468, Maintains Overweight Rating

Seagate Technology Holdings (STX) has an average rating of overweight and mean price target of $560.68, according to analysts polled by FactSet.Price: $577.00, Change: $-18.86, Percent Change: -3.17%

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Wire

Seagate Technology, Western Digital Seeing 'Clear Path' for Earnings Growth, BofA Securities Says

Seagate Technology (STX) and Western Digital (WDC) are seeing a "clear path" for earnings growth as long-term contracts and tight hard disk drive supply improve visibility for both companies, BofA Securities said in a Monday note.Demand for hard disk drives continue to outweigh supply, positioning original equipment manufacturers to raise prices, the brokerage said. BofA Securities also noted that the market's oligopoly remains intact, with low chances of new players entering the sector.The heat assisted magnetic recording, or HAMR, technology is driving higher exabyte shipments for hard disk drives, while cutting costs per terabyte, BofA Securities added.These factors could pave the way for Seagate Technology to hit earnings of $45 per share in 2026 and $33 Western Digital, the investment firm said.BofA Securities raised its price target on Seagate Technology to $700 from $605 and Western Digital to $495 from $415, with buy ratings for both companies.Price: $592.64, Change: $+6.39, Percent Change: +1.09%

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Wire

BofA Securities Adjusts Price Target on Seagate Technology Holdings to $700 From $605

Seagate Technology Holdings (STX) has an average rating of overweight and mean price target of $560.68, according to analysts polled by FactSet.Price: $589.14, Change: $+2.89, Percent Change: +0.49%

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Wire

Wedbush Raises Price Target on Seagate Technology Holdings to $700 From $430, Keeps Outperform Rating

Seagate Technology Holdings (STX) has an average rating of overweight and mean price target of $560.68, according to analysts polled by FactSet.Price: $591.00, Change: $+4.75, Percent Change: +0.81%

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Sectors

Sector Update: Tech Stocks Rise Late Afternoon

Tech stocks were higher late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) and the State Street SPDR S&P Semiconductor ETF (XSD) each adding about 2%.The Philadelphia Semiconductor index climbed 2.6%.In sector news, Texas Attorney General Ken Paxton launched an investigation into streaming platforms, including Spotify (SPOT), Apple's (AAPL) Apple Music, Amazon's (AMZN) Amazon Music and Alphabet's (GOOGL) YouTube Music over an alleged scheme in which the platforms accept bribes to artificially promote certain artists, songs or content, according to a statement from Paxton's office.In corporate news, Seagate Technology (STX) shares rose over 3% after Barclays upgraded the stock to overweight from equalweight and boosted its price target to $625 from $425.Microsoft (MSFT) has appointed Daniel Shapero to become the chief executive of LinkedIn, the company's executive vice president Ryan Roslansky said in a LinkedIn post Wednesday. Microsoft shares were up 2%.Sportradar (SRAD) shares fell 22% after Muddy Waters Research and Callisto Research published short reports on the company.Alphabet's (GOOGL) Google Cloud is launching a $750 million fund to help consulting firms such as Accenture (ACN), McKinsey, and Deloitte to get clients to use agentic AI software, Bloomberg reported. Alphabet shares added 2.1%.

$GOOGL$MSFT$SRAD$STX
Wire

Seagate Technology Shares Rise After Barclays Upgrade

Seagate Technology (STX) shares rose about 3% in Wednesday trading after Barclays upgraded the stock to overweight from equalweight and boosted its price target to $625 from $425.Trading volume stood at more than 1.8 million shares, compared with a daily average of around 4.2 million.Price: $576.93, Change: $+17.03, Percent Change: +3.04%

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Research

Barclays Upgrades Seagate Technology to Overweight From Equalweight, Adjusts PT to $625 From $425

Seagate Technology Holdings (STX) has an average rating of overweight and mean price target of $537.27, according to analysts polled by FactSet.

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Wire

Citigroup Adjusts Seagate Technology PT to $595 From $480, Maintains Buy Rating

Seagate Technology Holdings (STX) has an average rating of overweight and mean price target of $509.09, according to analysts polled by FactSet.Price: $502.46, Change: $-0.67, Percent Change: -0.13%

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