Seagate Technology's Q4 Earnings Surpass Expectations, Signaling Strong Recovery

Seagate's Q4 Earnings Beat Estimates, Revenues Up Y/Y - Generac Hldgs (NYSE:GNRC), Badger Meter (NYSE:BMI)

Seagate Technology Holdings plc STX reported fourth-quarter fiscal 2024 non-GAAP earnings of $1.05 per share, beating the Zacks Consensus Estimate by 40%. The company reported a non-GAAP loss of 18 cents per share in the year-ago quarter. Management anticipated fourth-quarter fiscal 2024 non-GAAP earnings to be 70 cents (+/- 20 cents). Non-GAAP revenues of $1.887 billion beat the Zacks Consensus Estimate by 1.5%. The figure increased 18% on a year-over-year basis and 14% sequentially. Management projected revenues to be $1.85 billion (+/- $150 million) for the fiscal fourth quarter. Higher mass capacity revenues were driven by stronger global cloud demand. Mass capacity revenues surged 46% year over year to $1.437 billion. Its exabyte shipments now represent more than 90% of total exabyte shipments. Nearline cloud revenues more than doubled year over year, owing to higher traditional cloud computing workloads and new AI deployments. Seagate Technology Holdings PLC Price, Consensus and EPS Surprise Seagate Technology Holdings PLC price-consensus-eps-surprise-chart | Seagate Technology Holdings PLC Quote Following the announcement, shares were up 5% in the premarket trading on Jul 24. In the past year, STX has gained 80.8% compared with the sub-industry's growth of 45.4%. Image Source: Zacks Investment Research Exabyte Shipments in Detail In the reported quarter, Seagate shipped 114.2 exabytes of HDD storage, up 25% year over year and 15% sequentially. Average mass capacity increased 45% year over year and 6% sequentially to 9.3TB. The company shipped 103.9 exabytes for the mass-capacity storage market (including nearline, video and image applications, and network-attached storage). This recorded a year-over-year increase of 38% in exabyte shipments and 17% sequentially. Average mass capacity per drive slightly increased sequentially to 12.6 TB from 12.5 TB. In the nearline market, it shipped 84.3 exabytes of HDD, up 54% year over year and 18% sequentially. Seagate shipped 10.3 exabytes for the legacy market (which includes mission-critical notebooks, desktops, gaming consoles, digital video recorders or DVR and external consumer devices), down 36% year over year and 3% sequentially. Average capacity increased 2% year over year to 2.5 TB. Revenues by Product Group Total revenues of HDD (91.5% of revenues) rose 25% year over year to $1.727 billion in the reported quarter. On a sequential basis, revenues were up 17%. Systems, SSD & Other segment's revenues (8.5%), including enterprise data solutions, cloud systems and solid-state drives, were $160 million, down 27% on a year-over-year basis and 10% sequentially. Our estimates for revenues from HDD and non-HDD segments were $1.674 billion and $178 million, respectively. Margin Details Non-GAAP gross margin increased to 30.9% from 19.5% in the prior year quarter. Non-GAAP operating expenses were down 1% on a year-over-year basis to $256 million. Non-GAAP income from operations totaled $327 million, up from $55 million a year ago. Non-GAAP operating margin increased to 17.3% from 3.4% in the year-earlier quarter. Balance Sheet and Cash Flow As of Jun 28, 2024, cash and cash equivalents were $1.358 billion compared with $795 million as of Mar 29. As of Jun 28, 2024, long-term debt (including the current portion) was $5.674 billion compared with $5.671 billion as of Mar 29. Cash flow from operations was $434 million compared with $188 million in the previous quarter. Free cash flow amounted to $380 million compared with $128 million in the prior quarter. This includes $226 million from the sale of System-on-Chip Operations, net of transaction costs. STX paid $147 million as dividends in the fiscal fourth quarter. It exited the quarter with 210 million shares outstanding. For the fiscal year, STX reported $918 million in cash flow from operations and $664 million in free cash flow. It paid cash dividends of $585 million in the fiscal year. Seagate announced a quarterly cash dividend of 70 cents per share. The dividend will be paid out on Oct 7, 2024, to its shareholders of record as of the close of business on Sep 23. Outlook Management anticipates first-quarter fiscal 2025 revenues to be $2.10 billion (+/- $150 million). STX expects incremental improvements in mass capacity demand, owing to strengthening demand from global cloud customers and modest improvement in the nearline enterprise market. The increase in mass capacity revenues is likely to offset lower revenues from legacy markets. Gross margin is expected to benefit from a higher mix of mass capacity revenues and ongoing pricing actions. For VIA, management anticipates sales to fluctuate in the second half of the calendar 2024. Though smart cities are the biggest end-market opportunity, the near-term budget visibility remains blurry amid existing macroeconomic uncertainty. Non-GAAP earnings for the fiscal first quarter of 2025 are expected to be $1.40 per share (+/- 20 cents). The non-GAAP operating expenses are expected to be $270 million. At the midpoint of the revenue guidance, management expects the non-GAAP operating margin to grow in the high-teens percentage range of revenues. STX expects fiscal 2025 capex to be at or below the low end of its long-term target range of 4-6% of revenues. Currently, Seagate sports a Zacks Rank #1 (Strong Buy). Other Stocks to Consider Some other top-ranked stocks worth consideration in the broader technology space are Badger Meter BMI, Generac Holdings GNRC and Onto Innovation ONTO. Badger Meter sports a Zacks Rank 1 while GNRC and ONTO carry a Zacks Rank #2 (Buy) each, at present. The Zacks Consensus Estimate for Badger Meter's 2024 EPS is pegged at $4.06, up 4.4% in the past 30 days. BMI's earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 12.9%. The long-term earnings growth rate is 16.7%. Shares of BMI have risen 24% in the past year. In the last reported quarter, BMI reported earnings of $1.12 per share for the second quarter of 2024, beating the Zacks Consensus Estimate by 14.3%. Also, the bottom line compared favorably with the year-ago quarter's EPS of 76 cents. Quarterly net sales were $216.7 million, up 23% from $175.9 million in the year-ago quarter and surpassed the consensus mark by 7.86%. The uptick was attributed to healthy customer demand for its smart water solutions, smooth operational execution and accretive customer backlog conversion. The Zacks Consensus Estimate for Onto Innovation's 2024 EPS is pegged at $5.05, unchanged in the past 30 days. ONTO's earnings beat the Zacks Consensus Estimate in three of the last four quarters while missing the remaining one, with the average surprise being 2.6%. Shares of ONTO have gained 93.8% in the past year. The Zacks Consensus Estimate for Generac's 2024 EPS is pegged at $6.16. GNRC's earnings beat the Zacks Consensus Estimate in two of the last four quarters while missing in the remaining quarters, with the average surprise being 5.8%. The long-term earnings growth rate is 12%. Shares of GNRC have risen 7.1% in the past year. To read this article on Zacks.com click here. Market News and Data brought to you by Benzinga APIs

Seagate's (STX) Q4 Earnings Beat Estimates, Revenues Up Y/Y

Seagate Technology Holdings plc STX reported fourth-quarter fiscal 2024 non-GAAP earnings of $1.05 per share, beating the Zacks Consensus Estimate by 40%. The company reported a non-GAAP loss of 18 cents per share in the year-ago quarter. Management anticipated fourth-quarter fiscal 2024 non-GAAP earnings to be 70 cents (+/- 20 cents). Non-GAAP revenues of $1.887 billion beat the Zacks Consensus Estimate by 1.5%. The figure increased 18% on a year-over-year basis and 14% sequentially. Management projected revenues to be $1.85 billion (+/- $150 million) for the fiscal fourth quarter. Higher mass capacity revenues were driven by stronger global cloud demand. Mass capacity revenues surged 46% year over year to $1.437 billion. Its exabyte shipments now represent more than 90% of total exabyte shipments. Nearline cloud revenues more than doubled year over year, owing to higher traditional cloud computing workloads and new AI deployments. Seagate Technology Holdings PLC Price, Consensus and EPS Surprise Seagate Technology Holdings PLC price-consensus-eps-surprise-chart | Seagate Technology Holdings PLC Quote Following the announcement, shares were up 5% in the premarket trading on Jul 24. In the past year, STX has gained 80.8% compared with the sub-industry's growth of 45.4%. In the reported quarter, Seagate shipped 114.2 exabytes of HDD storage, up 25% year over year and 15% sequentially. Average mass capacity increased 45% year over year and 6% sequentially to 9.3TB. The company shipped 103.9 exabytes for the mass-capacity storage market (including nearline, video and image applications, and network-attached storage). This recorded a year-over-year increase of 38% in exabyte shipments and 17% sequentially. Average mass capacity per drive slightly increased sequentially to 12.6 TB from 12.5 TB. In the nearline market, it shipped 84.3 exabytes of HDD, up 54% year over year and 18% sequentially. Seagate shipped 10.3 exabytes for the legacy market (which includes mission-critical notebooks, desktops, gaming consoles, digital video recorders or DVR and external consumer devices), down 36% year over year and 3% sequentially. Average capacity increased 2% year over year to 2.5 TB. Revenues by Product Group Total revenues of HDD (91.5% of revenues) rose 25% year over year to $1.727 billion in the reported quarter. On a sequential basis, revenues were up 17%. Systems, SSD & Other segment's revenues (8.5%), including enterprise data solutions, cloud systems and solid-state drives, were $160 million, down 27% on a year-over-year basis and 10% sequentially. Our estimates for revenues from HDD and non-HDD segments were $1.674 billion and $178 million, respectively. Margin Details Non-GAAP gross margin increased to 30.9% from 19.5% in the prior year quarter. Non-GAAP operating expenses were down 1% on a year-over-year basis to $256 million. Non-GAAP income from operations totaled $327 million, up from $55 million a year ago. Non-GAAP operating margin increased to 17.3% from 3.4% in the year-earlier quarter. Balance Sheet and Cash Flow As of Jun 28, 2024, cash and cash equivalents were $1.358 billion compared with $795 million as of Mar 29. As of Jun 28, 2024, long-term debt (including the current portion) was $5.674 billion compared with $5.671 billion as of Mar 29. Cash flow from operations was $434 million compared with $188 million in the previous quarter. Free cash flow amounted to $380 million compared with $128 million in the prior quarter. This includes $226 million from the sale of System-on-Chip Operations, net of transaction costs. STX paid $147 million as dividends in the fiscal fourth quarter. It exited the quarter with 210 million shares outstanding. For the fiscal year, STX reported $918 million in cash flow from operations and $664 million in free cash flow. It paid cash dividends of $585 million in the fiscal year. Seagate announced a quarterly cash dividend of 70 cents per share. The dividend will be paid out on Oct 7, 2024, to its shareholders of record as of the close of business on Sep 23. Outlook Management anticipates first-quarter fiscal 2025 revenues to be $2.10 billion (+/- $150 million). STX expects incremental improvements in mass capacity demand, owing to strengthening demand from global cloud customers and modest improvement in the nearline enterprise market. The increase in mass capacity revenues is likely to offset lower revenues from legacy markets. Gross margin is expected to benefit from a higher mix of mass capacity revenues and ongoing pricing actions. For VIA, management anticipates sales to fluctuate in the second half of the calendar 2024. Though smart cities are the biggest end-market opportunity, the near-term budget visibility remains blurry amid existing macroeconomic uncertainty. Non-GAAP earnings for the fiscal first quarter of 2025 are expected to be $1.40 per share (+/- 20 cents). The non-GAAP operating expenses are expected to be $270 million. At the midpoint of the revenue guidance, management expects the non-GAAP operating margin to grow in the high-teens percentage range of revenues. STX expects fiscal 2025 capex to be at or below the low end of its long-term target range of 4-6% of revenues. Currently, Seagate sports a Zacks Rank #1 (Strong Buy). Other Stocks to Consider Some other top-ranked stocks worth consideration in the broader technology space are Badger Meter BMI, Generac Holdings GNRC and Onto Innovation ONTO. Badger Meter sports a Zacks Rank 1 while GNRC and ONTO carry a Zacks Rank #2 (Buy) each, at present. You can see the complete list of today's Zacks #1 Rank stocks here. The Zacks Consensus Estimate for Badger Meter's 2024 EPS is pegged at $4.06, up 4.4% in the past 30 days. BMI's earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 12.9%. The long-term earnings growth rate is 16.7%. Shares of BMI have risen 24% in the past year. In the last reported quarter, BMI reported earnings of $1.12 per share for the second quarter of 2024, beating the Zacks Consensus Estimate by 14.3%. Also, the bottom line compared favorably with the year-ago quarter's EPS of 76 cents. Quarterly net sales were $216.7 million, up 23% from $175.9 million in the year-ago quarter and surpassed the consensus mark by 7.86%. The uptick was attributed to healthy customer demand for its smart water solutions, smooth operational execution and accretive customer backlog conversion. The Zacks Consensus Estimate for Onto Innovation's 2024 EPS is pegged at $5.05, unchanged in the past 30 days. ONTO's earnings beat the Zacks Consensus Estimate in three of the last four quarters while missing the remaining one, with the average surprise being 2.6%. Shares of ONTO have gained 93.8% in the past year. The Zacks Consensus Estimate for Generac's 2024 EPS is pegged at $6.16. GNRC's earnings beat the Zacks Consensus Estimate in two of the last four quarters while missing in the remaining quarters, with the average surprise being 5.8%. The long-term earnings growth rate is 12%. Shares of GNRC have risen 7.1% in the past year. Buy 5 Stocks BEFORE Election Day Biden or Trump? Zacks is releasing a FREE Special Report, Profit from the 2024 Presidential Election (no matter who wins). Since 1950, presidential election years have been strong for the market. This report names 5 timely stocks to ride the wave of electoral excitement. They include a medical manufacturer that gained +11,000% in the last 15 years... a rental company absolutely crushing its sector... an energy powerhouse planning to grow its already large dividend by 25%... an aerospace and defense standout that just landed a potentially $80 billion contract... and a giant chipmaker building huge plants in the U.S. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Badger Meter, Inc. (BMI) : Free Stock Analysis Report Seagate Technology Holdings PLC (STX) : Free Stock Analysis Report Generac Holdings Inc. (GNRC) : Free Stock Analysis Report Onto Innovation Inc. (ONTO) : Free Stock Analysis Report The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Seagate Technology Q4 Earnings: Revenue Beat, EPS Beat, Strong Guidance Amid 'Improving Cloud Demand Environment' - Seagate Tech Hldgs (NASDAQ:STX)

Seagate issues strong guidance for the first quarter, which appears to be driving shares higher after hours. Seagate Technology Holdings PLC STX shares are rising in Tuesday's after-hours session on the heels of the company's fiscal fourth-quarter financial results. Q4 Revenue: $1.89 billion, versus estimates of $1.877 billion Q4 EPS: $1.05, versus estimates of 75 cents During Seagate's fiscal fourth quarter, the data storage company generated $434 million in cash flow from operations and $380 million in free cash flow. Seagate ended the quarter with $1.4 billion in cash and cash equivalents. "Seagate delivered robust financial performance for the June quarter amid an improving cloud demand environment, capping off a fiscal year of strong execution against our financial goals. Q4 revenue grew 18% year-over-year, non-GAAP gross margin expanded to nearly 31%, and non-GAAP EPS exceeded the high end of our guidance range," said Dave Mosley, CEO of Seagate. See Also: Alphabet Q2 Earnings: Revenue Beat, EPS Beat, Innovation At 'Every Layer Of The AI Stack' And More Seagate's board declared a quarterly cash dividend of 70 cents per share, payable on Oct. 7 to shareholders of record as of Sept. 23. Outlook: Seagate expects first-quarter revenue of approximately $2.1 billion, plus or minus $150 million, versus estimates of $1.877 billion. The company anticipates first-quarter adjusted earnings of $1.40 per share, plus or minus 20 cents per share, versus estimates of 75 cents per share. Seagate's strong guidance appears to be driving shares higher after hours. Management will hold a conference call to further discuss these results at 5 p.m. ET. STX Price Action: Seagate shares were up 6.467% at $112.32 at the time of publication, according to Benzinga Pro. Photo: Wikimedia Commons. Market News and Data brought to you by Benzinga APIs

Seagate Technology rises after Q4 earnings, outlook surpass estimates

Seagate Technology easily surpassed analysts' estimates when it reported Q4 fiscal 2024 results after markets closed Tuesday. Seagate rose 6% in early post-market action. Seagate reported Q4 earnings per share of $1.05 versus the estimates of $0.75 per share. Seagate's fourth quarter revenue of $1.89B also beat the estimate of $1.87B. Looking ahead to Q1 of fiscal 2025, Seagate expects revenue of $2.1B and earnings per share of $1.40, which is above the estimates of $2.07B in revenue and earnings per share of $1.16. "In fiscal 2025, we are remaining focused on driving profitability and maintaining supply discipline while continuing to execute our mass capacity product roadmap, anchored by our HAMR technology," said Seagate CEO Dave Mosley. "Our data storage solutions offer our cloud and enterprise customers with cost, power and space advantages that support their investments in critical AI and other data-driven initiatives." Seeking Alpha contributor FTS Research notes that the rise of artificial intelligence has increased demand for data storage, which benefits companies like Seagate. "Although consumer sentiment/interest towards AI may decrease, it is likely that companies will still pursue AI projects due to the huge upside potential that it offers in many industries," FTS said in this recent report. "With the high storage demands of these projects, I think companies like STX will see solid growth in the future." Western Digital (WDC), one of Seagate's primary competitors, announces its quarterly results next week on Aug. 31. Estimates call for earnings per share of $1.17 on revenue of $3.74B. More on Seagate Technology Seagate Technology: Recent Performance Clouds Long-Term Optimism Seagate Technology Stock: AI Data Demand Can Push Shares To An All-Time High Seagate Technology: Valuation Needs To Go Down Some More To Be Attractive Seagate Technology Non-GAAP EPS of $1.05 beats by $0.30, revenue of $1.89B beats by $20M Seagate Technology Q4 2024 Earnings Preview

Seagate Technology hits 52-week high, reaching $109.63 By Investing.com

Seagate Technology (NASDAQ:STX) has reached a new 52-week high, with its stock price soaring to $109.63. This milestone reflects the company's robust performance and strong market position in the technology sector. Over the past year, Seagate Technology has seen a significant increase in its stock value, with a 1-year change of 86.37%. This impressive growth rate underscores the company's successful strategies and its ability to deliver consistent value to its shareholders. The new 52-week high of $109.63 is a testament to Seagate Technology's resilience and potential for further growth. In other recent news, Seagate Technology has been the focus of several financial firms, with Loop Capital, Morgan Stanley (NYSE:MS), Rosenblatt Securities, Benchmark, and Mizuho Securities all adjusting their price targets for the company. Loop Capital increased its price target to $135, reflecting an anticipated stronger-than-expected financial performance. Morgan Stanley raised its target to $133, citing strong hard disk drive supply and demand dynamics. Rosenblatt Securities increased its target to $125, following a surge in demand from Cloud Service Providers and the Video & Imaging Application sector. Benchmark maintained its Hold rating on Seagate, noting better-than-expected results and an optimistic forecast for the first quarter of fiscal year 2025, bolstered by an increase in Nearline cloud sales. Mizuho Securities raised its price target to $125, expressing confidence in the company's reported earnings and future outlook. TD Cowen also raised the price target of Seagate shares to $135, citing the beneficial impact of early stages of Generation Artificial Intelligence on HDDs. These recent developments underscore the financial community's confidence in Seagate's market positioning and financial trajectory. Seagate Technology's (STX) climb to a new 52-week high is complemented by encouraging metrics and insights from InvestingPro. With a robust market capitalization of $22.91B and a significant one-year price total return of 83.74%, the company demonstrates a strong foothold in the market. The positive outlook is bolstered by a notable 3-month price total return of 21.69%, reflecting investor confidence in the company's short-term performance. Additionally, Seagate's commitment to shareholder returns is evident through its consistent dividend payments over the last 14 years, currently yielding 2.66%. InvestingPro Tips suggest that Seagate is expected to see net income growth this year, with analysts also anticipating sales growth in the current year. This aligns with the company's recent performance, where despite a dip in revenue growth over the last twelve months, quarterly revenue growth stood at 17.79% in Q1 2023. Moreover, Seagate is recognized as a prominent player in the Technology Hardware, Storage & Peripherals industry, which may further instill investor confidence. For those interested in deeper analysis and additional insights, there are more InvestingPro Tips available, which can be accessed with a subscription. Use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, and discover the full range of actionable tips to guide your investment decisions.

TD Cowen lifts Seagate shares target citing GenAI data surge By Investing.com

On Wednesday, TD Cowen increased the price target of Seagate Technology (NASDAQ:STX) shares to $135 from the previous $110, while the firm maintained a Buy rating on the stock. The adjustment comes in response to the company's guidance surpassing consensus expectations, signaling a positive outlook for the hard disk drive (HDD) market. The analyst from TD Cowen noted that the early stages of Generation Artificial Intelligence (GenAI) are having a beneficial impact on HDDs, as more data is being stored. This trend is also indirectly supporting the expansion of data center construction. The firm emphasized the continued pricing power of HDD original equipment manufacturers (OEMs), attributing it to their disciplined approach to capacity management, which has been instrumental in sustaining price increases. Furthermore, Heat-Assisted Magnetic Recording (HAMR) technology was highlighted as a long-term technological thesis for the industry. Despite the price target revision, the forecast for Seagate's fiscal year 2025 earnings per share (EPS) remains unchanged at $6.15. The new price target of $135 is based on a 21x multiple of the expected calendar year 2025 EPS. Seagate's positive guidance and the subsequent price target increase by TD Cowen reflect the underlying strength in the HDD market, driven by advancements in technology and growing data storage needs. The firm's outlook suggests confidence in Seagate's future performance and the broader HDD sector. In other recent news, Seagate Technology experienced robust growth, as reflected in its financial results for the fourth quarter and fiscal year 2024. The company's revenue surged by 18% year-on-year, reaching $1.89 billion in the June quarter, largely driven by a global increase in cloud demand. Seagate's non-GAAP gross margin also outperformed, hitting nearly 31%, exceeding its long-term target. These recent developments also include Seagate's non-GAAP operating income standing at $327 million, and non-GAAP EPS of $1.05, surpassing the high end of its guidance range. The company's focus on profitability and cash generation resulted in a fortified balance sheet, ending the quarter with $1.4 billion in cash and cash equivalents and $2.9 billion in available liquidity. Looking forward, Seagate plans to advance its mass capacity product roadmap, including the HAMR-based Mozaic 3+ product, and anticipates continued growth in nearline cloud and enterprise OEM markets. The company also expects mass capacity revenue to grow in the September quarter with projected revenue around $2.1 billion. Despite experiencing some volume issues and supplier interactions that have slowed progress, Seagate remains optimistic about the demand for exabytes in the calendar year 2025 and is focused on introducing new products to meet customer needs. The company also sees potential growth in AI-driven applications and is in the early stages of exploring this area. Following the price target increase for Seagate Technology by TD Cowen, current metrics from InvestingPro provide additional context for investors considering the stock. With a market capitalization of $22.11 billion and a notable presence in the Technology Hardware, Storage & Peripherals industry, Seagate stands out as a significant player. Despite analysts anticipating a sales decline this year, Seagate has demonstrated a strong return over the last year, with the stock price returning an impressive 83.74% as of the last twelve months. Additionally, the company's commitment to shareholder returns is evident through its consistent dividend payments for 14 consecutive years, currently yielding 2.66%. InvestingPro Tips also reveal that Seagate generally trades with low price volatility, which could appeal to investors looking for stability in their portfolio. Furthermore, the company is trading near its 52-week high, showcasing the market's confidence in its performance. For those interested in further analysis, there are over 10 additional InvestingPro Tips available, providing deeper insights into Seagate's valuation, profitability, and market trends. To access these exclusive tips and take advantage of real-time metrics, use coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription at InvestingPro.

Seagate Technology Non-GAAP EPS of $1.05 beats by $0.30, revenue of $1.89B beats by $

Seagate Technology press release (NASDAQ:STX): Q4 Non-GAAP EPS of $1.05 beats by $0.30. Revenue of $1.89B (+18.1% Y/Y) beats by $20M. Cash flow from operations of $434 million and free cash flow of $380 million Declared cash dividend of $0.70 per share. Q1 Outlook: Revenue of $2.10 billion, plus or minus $150 million Non-GAAP diluted EPS of $1.40, plus or minus $0.20. Shares +4.41%. More on Seagate Technology Seagate Technology: Recent Performance Clouds Long-Term Optimism Seagate Technology Stock: AI Data Demand Can Push Shares To An All-Time High Seagate Technology: Valuation Needs To Go Down Some More To Be Attractive Seagate Technology Q4 2024 Earnings Preview Seagate, Western Digital in focus as Wedbush bumps price targets ahead of earnings