Data storage manufacturer Seagate (NASDAQ: STX) will be announcing earnings results tomorrow after market close. Here’s what investors should know.
Seagate Technology met analysts’ revenue expectations last quarter, reporting revenues of $2.33 billion, up 49.5% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ EPS estimates but revenue guidance for next quarter missing analysts’ expectations significantly.
Is Seagate Technology a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Seagate Technology’s revenue to grow 29.1% year on year to $2.14 billion, a reversal from the 11% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.74 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Seagate Technology has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Seagate Technology’s peers in the semiconductors segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Micron delivered year-on-year revenue growth of 38.3%, beating analysts’ expectations by 1.9%, and Texas Instruments reported revenues up 11.1%, topping estimates by 4.1%. Micron traded down 7.9% following the results while Texas Instruments was up 6.7%.
Read our full analysis of Micron’s results here and Texas Instruments’s results here.
The euphoria surrounding Trump’s November win lit a fire under major indices, but potential tariffs have caused the market to do a 180 in 2025. While some of the semiconductors stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 4.7% on average over the last month. Seagate Technology is down 1.3% during the same time and is heading into earnings with an average analyst price target of $105.83 (compared to the current share price of $83.82).
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