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A month has gone by since the last earnings report for Seagate (STX) . Shares have added about 8.7% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Seagate due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Seagate's Q3 Earnings Beat EstimatesSeagate reported third-qua ...

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to capitalize on established price movements for profitable trades [1] Company Overview: Seagate (STX) - Seagate currently holds a Momentum Style Score of B and a Zacks Rank of 2 (Buy), indicating strong potential for outperformance [2] - The Zacks Rank system has shown that stocks rated 1 (Strong Buy) and 2 (Buy) with Style Scores of A or B tend to outperform the market over the following month [2] Momentum Performance Metrics - Over the past week, Seagate shares increased by 7.44%, while the Zacks Technology Services industry experienced a decline of 0.21% [3] - In a longer timeframe, Seagate's shares rose by 17.25% over the past month, significantly outperforming the industry's 2.23% [3] - Over the last quarter, Seagate shares have risen by 16.28%, and over the past year, they have increased by 61.47%, compared to the S&P 500's gains of 5.91% and 30.04%, respectively [4] Trading Volume - Seagate's average 20-day trading volume is 2,677,136 shares, which serves as a bullish indicator when combined with rising stock prices [4] Earnings Outlook - In the past two months, 6 earnings estimates for Seagate have been revised upwards, while none have been lowered, leading to an increase in the consensus estimate from $0.53 to $0.92 [5] - For the next fiscal year, 4 estimates have moved upwards, with 1 downward revision noted [5] Conclusion - Given the positive momentum indicators and earnings outlook, Seagate is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a strong candidate for near-term investment [6]

Seagate Technology Holdings plc (STX) is witnessing strong momentum, with shares having rallied 58.2% in the past year compared with the S&P 500 Composite’s 27.7% growth.Headquartered at Dublin, Ireland, Seagate is a leading provider of data storage technology and infrastructure solutions. The company’s primary product offering is hard disk drives or hdds but it also develops other electronic data storage products such as SSD (solid state drive) and storage subsystems.At present, the stock carries a Zacks R ...

Core Viewpoint - Seagate (STX) shows a significant improvement in earnings outlook, making it an attractive investment option as analysts continue to raise earnings estimates [1][6] Earnings Estimates - The earnings estimate for the current quarter is $0.63 per share, reflecting a +450% change from the previous year [4] - Over the last 30 days, the Zacks Consensus Estimate for Seagate has increased by 60.96%, with three estimates moving higher and no negative revisions [4] - For the full year, the expected earnings are $0.85 per share, indicating a +347.37% change from the prior year [5] - The consensus estimate for the current year has risen by 496% due to five upward revisions and no negative changes [5] Analyst Sentiment - There is strong agreement among analysts in revising earnings estimates upward, leading to a meaningful improvement in consensus estimates for both the next quarter and the full year [2][5] - The promising estimate revisions have resulted in Seagate earning a Zacks Rank 2 (Buy), indicating a favorable outlook [6] Stock Performance - Seagate shares have increased by 10.4% over the past four weeks, suggesting positive investor sentiment based on the impressive estimate revisions [7]

Key PointsSeagate, the largest manufacturer of hard disk drives, is ushering in the next generation of high-capacity HAMR technology HDDs in the Mozaic 3+ with up to 30 TBs, doubling the capacity in the same footprint.Seagate reported a fiscal Q3 2024 EPS of 33 cents, beating consensus estimates by 4 cents, while revenues fell 11% YOY but rose 6%, and adjusted EBITDA doubled QOQ, indicating the recovery cycle may be underway.Cloud data center demand is recovering as EBITDA margins expanded to 16.8%, up from ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 ____________________________ FORM 10-Q ___________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 29, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: to Commission File Number 001-31560 _______________________________________ SEAGATE TECHNOLOGY HOLDINGS PUBLIC LIMIT ...

Seagate Technology Holdings plc (STX) reported third-quarter fiscal 2024 results. Though earnings per share beat the Zacks Consensus Estimate, sales lagged the same.Seagate reported non-GAAP earnings of 33 cents per share, beating the Zacks Consensus Estimate by 22.2%. The company reported a non-GAAP loss of 28 cents per share in the year-ago quarter. Management anticipated non-GAAP earnings to be 25 cents (+/- 20 cents).Non-GAAP revenues of $1.655 billion missed the Zacks Consensus Estimate by 0.7%. The fi ...

Seagate (STX) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Individual investors often ...

Seagate Technology Holdings plc (STX) reported third-quarter fiscal 2024 non-GAAP earnings of 33 cents per share, beating the Zacks Consensus Estimate by 22.2%. The company reported non-GAAP loss of 28 cents per share in the year-ago quarter.Management anticipated third-quarter fiscal 2024 non-GAAP earnings to be 25 cents (+/- 20 cents).Non-GAAP revenues of $1.655 billion missed the Zacks Consensus Estimate by 0.7%. The figure declined 11% on a year-over-year basis. However, revenues improved 6% sequentiall ...