Seagate Technology (NASDAQ:STX) Updates Q3 2026 Earnings Guidance

Seagate Technology (NASDAQ:STX) updated its third quarter 2026 earnings guidance on Tuesday. The company provided EPS guidance of 3.200-3.600 for the period, compared to the consensus EPS estimate of 3.010. The company issued revenue guidance of $2.8 billion-$3.0 billion, compared to the consensus revenue estimate of $2.7 billion.

Seagate Technology Stock Up 3.8%

Seagate Technology stock traded up $13.47 during trading hours on Tuesday, reaching $371.76. 7,080,492 shares of the company’s stock were exchanged, compared to its average volume of 3,109,224. The firm’s 50 day simple moving average is $293.46 and its 200 day simple moving average is $233.69. Seagate Technology has a twelve month low of $63.19 and a twelve month high of $383.88. The firm has a market capitalization of $79.39 billion, a PE ratio of 42.96, a PEG ratio of 1.06 and a beta of 1.60.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.73 billion. Seagate Technology had a negative return on equity of 297.87% and a net margin of 17.92%.The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Analysts anticipate that Seagate Technology will post 6.83 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on STX. Barclays raised their price objective on Seagate Technology from $240.00 to $370.00 and gave the company an “equal weight” rating in a research note on Thursday, January 15th. Morgan Stanley raised their target price on Seagate Technology from $337.00 to $372.00 and gave the company an “overweight” rating in a research report on Thursday, January 22nd. Bank of America raised their price objective on shares of Seagate Technology from $320.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Wells Fargo & Company boosted their target price on shares of Seagate Technology from $250.00 to $360.00 and gave the company an “equal weight” rating in a research note on Thursday, January 15th. Finally, Rosenblatt Securities boosted their target price on Seagate Technology from $270.00 to $370.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and a consensus price target of $357.45.

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $285.56, for a total value of $5,711,200.00. Following the completion of the transaction, the chief executive officer directly owned 429,895 shares in the company, valued at approximately $122,760,816.20. The trade was a 4.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gianluca Romano sold 54,021 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $285.16, for a total value of $15,404,628.36. Following the transaction, the chief financial officer directly owned 56,293 shares in the company, valued at approximately $16,052,511.88. This represents a 48.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 132,557 shares of company stock worth $36,847,793 in the last 90 days. 0.79% of the stock is owned by company insiders.

Seagate Technology News Roundup

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Q2 beat and strong guidance — Seagate reported $3.11 EPS vs. consensus ~ $2.77 and $2.83B revenue vs. ~$2.73B, and forecast Q3 revenue/profit above street estimates on robust AI-driven storage demand. Seagate Technology Reports Fiscal Second Quarter 2026 Financial Results
• Positive Sentiment: Bull commentary on tight supply — High-profile bullish coverage, including Jim Cramer, highlighted unmet/insatiable demand for Seagate’s products tied to the AI buildout, supporting expectations for continued order strength. Seagate (STX) is Facing a Shortage That Can’t Be Met, Says Jim Cramer
• Positive Sentiment: Analyst upgrades/price-target increases — Broker coverage has moved higher (examples include Mizuho raising its target and other outlets reporting raised targets to the $370–$400 area), reinforcing upside sentiment. Seagate Technology (NASDAQ:STX) Price Target Raised to $380.00
• Neutral Sentiment: Company presentation and investor materials available — Seagate posted the press release, slide deck and conference-call materials detailing margin improvements and record non-GAAP EPS, useful for modeling forward margins and cash flow. Seagate Q2 earnings materials and transcript
• Negative Sentiment: Market digestion / “cooling off” noted — Some coverage points out the stock briefly cooled or was volatile after the print, suggesting some profit-taking even with strong fundamentals. Seagate Technology cools off despite strong Q2 results, guidance
• Negative Sentiment: Technical/valuation risk after parabolic run — Analysts and chart watchers warn STX has run up rapidly and hit resistance levels, raising the risk of a pullback despite bullish demand trends. Seagate Technology stock hits key resistance ahead of its earnings

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Rakuten Securities Inc. increased its stake in shares of Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after buying an additional 168 shares during the period. Palisade Asset Management LLC bought a new position in Seagate Technology in the 3rd quarter worth $37,000. Larson Financial Group LLC raised its holdings in Seagate Technology by 41.9% in the 3rd quarter. Larson Financial Group LLC now owns 166 shares of the data storage provider’s stock worth $39,000 after purchasing an additional 49 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of Seagate Technology in the 2nd quarter worth about $90,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Seagate Technology during the 3rd quarter valued at about $200,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

About Seagate Technology

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.