The Latest Breaking News from Seagate

Seagate Technology Holdings PLC (NASDAQ: STX) reported its quarterly revenue at $2.6 billion, down 13% year-on-year, and non-GAAP profits at $1.59 per share, with both metrics below Street expectations. The company’s projection was $1.90 a share.

Stock futures steady amid renewed recession risk; Snap shares plunge after ad sector warning; Twitter shares lower with Q2 earnings in focus; Mattel shares dip after solid Q2 profits, price hikes and Seagate warning hits memory chip makers.

Wells Fargo analyst Aaron Rakers maintained Seagate Technology Holdings PLC (NASDAQ:STX) with an Equal-Weight and reduced the price target from $110 to $90 (8.1% upside). Rakers maintained Western Digital Corp (NASDAQ:WDC) with an Overweight and decreased the price target from $80 to $70 (45.6% upside). Rakers reduced its estimates on Seagate and Western Digital ahead of their upcoming earnings releases.  Also…

Susquehanna analyst Mehdi Hosseini downgraded the Seagate Technology Holdings PLC (NASDAQ:STX) to Negative and Western Digital Corp (NASDAQ:WDC) to Neutral. Hosseini slashed Seagate's price targets to $65 (20.7% downside) and Western Digital to $50 (6.3% upside).  Even though hard disk drive shipments are likely to be higher in the near term and the second half of 2022 and…

Skyrocketing inflation, rising interest rates, and a geopolitical crisis caused by Russia’s invasion of Ukraine, have triggered massive selloffs in the technology sector. However, these conditions represent a great opportunity to buy stocks on their price dips. So, we think it could be wise to invest in financially solid tech…

Rapid digitalization and continuing hybrid working arrangements have been driving the growth of the computer hardware market. So, we think computer hardware stocks Daktronics (DAKT), AstroNova (ALOT), Canon (CAJ), and Seagate Technology (STX) could be solid additions to one’s watchlist. These stocks are rated Buy or Strong Buy in our…

Analysts raised their price targets 

Seagate stock jumped Wednesday as the disk drive maker reported quarterly results that came in ahead of expectations.