Seagate Technology Holdings plc
- Open
- 815.10
- Day high
- 832.76
- Day low
- 802.11
- Prev close
- 828.38
- Volume
- 2.3M
- Mkt cap
- $185.1B
- P/E (TTM)
- 56.2
- EPS (TTM)
- $14.54
- P/B
- 85.4
- P/S
- 15.2
- Yield
- 0.18%
- Per share
- $1.48
- ▼Insiders net selling -$98.6M over the last 3 months (0 open-market buys, 149 sales)
- 🏛Institutions accumulating (13F)
Seagate Technology Holdings plc (STX) is a Technology company listed on NASDAQ. The stock is up 380% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 149 sales (SEC Form 4). Drillr has 1 published research article covering STX.
Seagate Technology Holdings plc (STX) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 14 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
STX earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 28, 2026 | $5.10 | $5.71 | +12.0% | $3.6B | +3.7% |
| Apr 28, 2026 | $3.51 | $4.10 | +16.8% | $3.1B | +5.1% |
| Jan 27, 2026 | $2.78 | $3.11 | +11.9% | $2.8B | +3.6% |
| Oct 28, 2025 | $2.40 | $2.61 | +8.8% | $2.6B | +3.2% |
| Jul 29, 2025 | $2.45 | $2.59 | +5.7% | $2.4B | +0.9% |
| Jan 21, 2025 | $1.87 | $2.03 | +8.6% | $2.3B | +0.2% |
| Oct 22, 2024 | $1.49 | $1.58 | +6.0% | $2.2B | +1.8% |
| Jul 23, 2024 | $0.76 | $1.05 | +37.8% | $1.9B | +0.9% |
| Jan 24, 2024 | $-0.07 | $0.12 | +271.4% | $1.6B | +0.4% |
| Oct 26, 2023 | $-0.20 | $-0.22 | -10.0% | $1.5B | -5.1% |
| Jul 26, 2023 | $-0.23 | $-0.18 | +21.7% | $1.6B | -5.0% |
| Apr 20, 2023 | $0.19 | $-0.28 | -247.4% | $1.9B | -5.9% |
STX insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 26, 2026 | Lee James CIofficer: EVP & CLO | Sell | 600 | $797.39 |
| Aug 26, 2026 | Lee James CIofficer: EVP & CLO | Sell | 440 | $791.80 |
| Aug 26, 2026 | Lee James CIofficer: EVP & CLO | Sell | 40 | $774.84 |
| Aug 26, 2026 | Lee James CIofficer: EVP & CLO | Sell | 160 | $780.66 |
| Aug 26, 2026 | Lee James CIofficer: EVP & CLO | Sell | 120 | $784.66 |
| Aug 26, 2026 | Lee James CIofficer: EVP & CLO | Sell | 8 | $777.05 |
| Aug 26, 2026 | Lee James CIofficer: EVP & CLO | Sell | 968 | $794.77 |
| Aug 26, 2026 | Lee James CIofficer: EVP & CLO | Sell | 560 | $789.25 |
| Aug 26, 2026 | Lee James CIofficer: EVP & CLO | Sell | 80 | $778.50 |
| Aug 26, 2026 | Lee James CIofficer: EVP & CLO | Sell | 567 | $799.44 |
| Aug 26, 2026 | Lee James CIofficer: EVP & CLO | Sell | 112 | $776.14 |
| Aug 26, 2026 | Lee James CIofficer: EVP & CLO | Sell | 480 | $793.66 |
| Aug 26, 2026 | Lee James CIofficer: EVP & CLO | Sell | 240 | $786.27 |
| Aug 26, 2026 | Lee James CIofficer: EVP & CLO | Option | 4,032 | $158.40 |
| Aug 26, 2026 | Lee James CIofficer: EVP & CLO | Sell | 280 | $782.33 |
Source: STX SEC Form 4 filings, latest Aug 26, 2026. For informational purposes only — not investment advice.
See the full STX insider & 13F page →Seagate Technology Holdings plc company profile
Overview
Seagate Technology Holdings plc (NASDAQ:STX) is a leading global provider of data storage solutions founded in 1978 and headquartered in Dublin, Ireland. The company has established itself as one of the world's largest manufacturers of hard disk drives (HDDs) and solid-state drives (SSDs), serving enterprise, cloud, and consumer markets worldwide. With over four decades of experience in magnetic storage technology, Seagate has evolved from a traditional hard drive manufacturer into a comprehensive data storage solutions provider, adapting to the massive growth in global data creation driven by cloud computing, artificial intelligence, and digital transformation initiatives.
Business
Seagate operates in the data storage industry, which forms the backbone of the modern digital economy. The company's core business revolves around manufacturing and selling storage devices that preserve and retrieve digital information for computers, servers, and data centers globally. The company's primary offerings fall into several key categories: 1. Mass Capacity Storage Products (approximately 80% of revenue): This segment includes enterprise nearline hard disk drives, which are high-capacity storage devices designed for data centers and cloud infrastructure. These drives typically range from 18 to 28+ terabytes and are optimized for storing vast amounts of data that is accessed less frequently but must remain readily available. Seagate also produces enterprise nearline solid-state drives and complete storage systems for large-scale data operations. 2. Legacy Applications (approximately 12% of revenue): This category encompasses mission-critical HDDs and SSDs designed for high-performance computing environments, desktop computer drives, notebook drives, and specialized storage for digital video recorders and gaming applications. 3. External Storage Solutions (approximately 8% of revenue): Consumer-focused products sold under the Seagate Ultra Touch, One Touch, and Expansion product lines, as well as premium storage solutions under the LaCie brand name, targeting creative professionals and prosumers. 4. Lyve Platform: An edge-to-cloud mass capacity storage platform that provides integrated hardware and software solutions for managing large-scale data workflows. The data storage industry serves as critical infrastructure for the digital economy, enabling everything from personal photo storage to massive cloud computing operations that power artificial intelligence, streaming services, and enterprise applications.
Revenue model
Seagate generates revenue primarily through direct product sales to three main customer categories: original equipment manufacturers (OEMs), distributors, and retailers. The company operates on a build-to-order business model for much of its enterprise business, which provides predictable demand visibility extending up to nine months ahead. The company's revenue streams break down as follows: 1. Enterprise and Cloud Sales: The largest revenue contributor comes from selling high-capacity nearline drives directly to cloud service providers like Amazon, Microsoft, and Google, as well as enterprise customers building data centers. These customers pay premium prices for drives with capacities of 18-28+ terabytes, generating higher margins than consumer products. 2. OEM Partnerships: Seagate supplies storage components to computer manufacturers, server builders, and system integrators who incorporate the drives into their final products before selling to end customers. 3. Channel Distribution: Sales through distributors and retailers serve smaller businesses and consumers, typically involving lower-capacity, lower-margin products. Several factors significantly impact Seagate's profitability margins. Positive margin drivers include the ongoing shift toward higher-capacity drives (customers pay more per drive for greater storage), successful technology transitions like the upcoming HAMR (Heat-Assisted Magnetic Recording) technology that reduces cost per terabyte, and strong supply-demand dynamics in the mass capacity market where demand often exceeds supply. Negative margin pressures come from commodity pricing cycles typical in the storage industry, manufacturing underutilization during demand downturns, component cost inflation, and competitive pricing pressure in legacy and lower-capacity segments. The company's margin performance also depends heavily on global economic conditions affecting cloud infrastructure spending and enterprise IT budgets.
Competitive moat
Seagate possesses a moderate but narrowing competitive moat built primarily on technological expertise, manufacturing scale, and customer relationships, though the company faces significant long-term challenges. The company's strongest moat elements include technological leadership in magnetic storage, particularly with its upcoming HAMR technology that promises to extend hard drive capacity roadmaps significantly beyond current limits. Seagate's decades of experience in precision manufacturing and magnetic recording physics create substantial barriers for new entrants. The company also benefits from established relationships with major cloud providers and enterprise customers who require extensive qualification processes for storage components, creating switching costs and customer stickiness. Manufacturing scale advantages provide cost efficiencies that smaller competitors cannot match, while the company's build-to-order model with major customers creates predictable demand visibility. Additionally, the data storage industry has consolidated significantly over the past decade, leaving primarily Seagate and Western Digital as the dominant HDD manufacturers globally. However, Seagate's moat faces serious long-term erosion risks. The most significant threat comes from solid-state drive (SSD) technology, which continues to decline in cost per gigabyte while offering superior performance, reliability, and energy efficiency. While HDDs currently maintain advantages in cost per terabyte for mass storage applications, this gap continues to narrow. Cloud hyperscalers represent both Seagate's largest customers and potential disruptors, as they possess the resources to develop alternative storage technologies or integrate vertically. The company also faces potential disruption from emerging storage technologies like DNA storage or quantum storage systems, though these remain largely experimental. Competition from Western Digital remains intense, and any execution missteps in technology transitions could quickly erode market position in this duopoly market structure.
Risks & safety
Seagate presents moderate financial risk with concerning debt levels but reasonable operational cash generation. • Debt and Solvency: Total liabilities of $8.4 billion significantly exceed total assets of $7.6 billion, creating negative shareholders' equity of approximately -$800 million. Debt-to-equity ratio of -6.2x reflects this overleveraged position, though the company has been steadily reducing debt from $6.2 billion to $5.7 billion recently. • Cash Position: Cash and short-term investments of $814 million provide reasonable liquidity buffer. Current ratio of 1.36x and quick ratio of 0.75x indicate adequate short-term liquidity management. • Cash Flow: Free cash flow of $216 million in latest quarter demonstrates ability to generate cash from operations, though this represents a decline from stronger historical levels. Operating cash flow of $259 million covers capital expenditures and debt service requirements. • Valuation Metrics: P/E ratio of 13.2x appears reasonable for a cyclical technology company, while EV/EBITDA of 11.3x suggests moderate valuation levels. • Other Considerations: The company's cyclical nature creates earnings volatility risk, while dependence on a few large cloud customers creates concentration risk. Technology transition risks around HAMR implementation could impact future profitability.
Recent development
Over the past several years, Seagate has undergone significant strategic transformation focused on technology advancement and market positioning for the artificial intelligence and cloud computing era. The company's most critical development has been the advancement of HAMR (Heat-Assisted Magnetic Recording) technology, branded as the Mozaic platform. This next-generation magnetic recording technology promises to extend hard drive capacity roadmaps significantly, with current sampling of drives up to 36 terabytes and development of Mozaic 4+ targeting 33% additional capacity improvements. Management expects HAMR volume production to ramp meaningfully in mid-2025, representing a crucial technology transition that should provide cost advantages and margin improvements. Seagate has also executed a strategic shift toward mass capacity markets, with this segment now representing approximately 80% of total revenue compared to much lower levels historically. The company has deliberately de-emphasized legacy applications and lower-capacity drives to focus on high-capacity nearline drives serving cloud and enterprise customers. This transition has improved average selling prices and margins while positioning the company for AI-driven data growth. Operational restructuring has been another key focus, with management reducing the cost structure by over $350 million annually and lowering production output by approximately 25% during the recent demand downturn. The company has maintained supply discipline through build-to-order approaches and careful capacity management rather than aggressive capacity expansion. The company has also begun positioning for AI-related storage opportunities, though management acknowledges this remains in early stages. Seagate sees potential demand from AI training data storage, model checkpoints, and generated content storage, while also exploring edge storage applications for AI inference workloads. Financial strategy evolution has emphasized debt reduction, improved cash generation, and disciplined capital allocation, with the company reducing total debt while maintaining dividend payments and preparing for potential share buyback programs once debt targets are achieved.
STX company profile · for informational purposes only — not investment advice.
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