Seagate Technology forecast third-quarter revenue and profit above Wall Street expectations on Tuesday, benefiting from strong demand for its data storage devices as enterprises scale up their use of ... ...

SUPPLEMENTAL FINANCIAL INFORMATION Q2FY26 JANUARY 27, 2026 Safe Harbor Statement and Use of Non-GAAP Financial Information This document and our other communications regarding our quarterly financial results contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical fact. Forward-loo ...

Core Viewpoint - Seagate Technology Holdings Plc. reported strong second-quarter earnings, exceeding analyst expectations in both earnings per share and revenue, indicating robust operational performance and demand in the data center market [2][3]. Financial Performance - Quarterly earnings were reported at $3.11 per share, surpassing the analyst consensus estimate of $2.81 by 10.52% [2]. - Revenue for the quarter reached $2.83 billion, exceeding the Street estimate of $2.73 billion and showing an increase from $2.33 billion in the same period last year [2]. Operational Highlights - The company achieved new records for gross margin, operating margin, and non-GAAP EPS, reflecting strong operational execution and the durability of data center demand [3]. - The ongoing ramp of HAMR-based Mozaic products contributed positively to the performance [3]. Future Outlook - For the third quarter, Seagate expects adjusted EPS to be between $3.20 and $3.60, compared to the analyst estimate of $2.96, and revenue is projected to be between $2.8 billion and $3 billion, exceeding the analyst estimate of $2.77 billion [4].

Financial Performance - Revenue for fiscal Q2 2026 was $2.83 billion, a 21.5% increase from $2.33 billion in fiscal Q2 2025[4] - GAAP gross margin improved to 41.6% from 34.9% year-over-year, while non-GAAP gross margin increased to 42.2% from 35.5%[4] - GAAP diluted earnings per share (EPS) rose to $2.60, up from $1.55 in the same quarter last year, with non-GAAP diluted EPS at $3.11 compared to $2.03[4] - Net income for the six months ended January 2, 2026, was $1,142 million, an increase from $641 million for the same period in the previous year, representing a growth of 78.2%[23] - Non-GAAP gross profit for the six months ended January 2, 2026, was $2,245 million, compared to $1,548 million for the same period in the previous year, reflecting a 45.1% increase[27] - GAAP gross margin improved to 40.6% for the six months ended January 2, 2026, up from 34.0% in the prior year[27] - GAAP diluted net income per share for the six months ended January 2, 2026, was $5.03, up from $2.95 in the prior year, marking a 70.5% increase[29] - Non-GAAP diluted net income per share for the six months ended January 2, 2026, was $5.71, compared to $3.62 for the same period last year, representing a 57.7% increase[29] Cash Flow and Liquidity - Cash flow from operations was $723 million, and free cash flow was $607 million during the quarter[5] - Net cash provided by operating activities for the six months ended January 2, 2026, was $1,255 million, significantly higher than $316 million for the same period last year[29] - Free cash flow for the six months ended January 2, 2026, was $1,034 million, compared to $177 million for the same period in the previous year, indicating a substantial increase[29] - Cash, cash equivalents, and restricted cash at the end of the period were $1,048 million, compared to $1,240 million at the end of the previous year[23] - Seagate's balance sheet remains strong, with cash and cash equivalents totaling $1.0 billion at the end of the quarter[5] Future Outlook - For fiscal Q3 2026, the company expects revenue of approximately $2.90 billion, plus or minus $100 million, and non-GAAP diluted EPS of $3.40, plus or minus $0.20[15] - The company anticipates continued strong demand for data center storage solutions driven by AI applications and evolving market needs[2] Strategic Actions - The company declared a quarterly cash dividend of $0.74 per share, payable on April 8, 2026[8] - The company retired $500 million in Exchangeable Senior Notes due 2028 during the fiscal second quarter[5] - The company redeemed and repurchased $500 million of debt during the financing activities for the six months ended January 2, 2026[23] Operating Metrics - Non-GAAP operating margin for the six months ended January 2, 2026, was 30.5%, up from 21.8% in the prior year[27] - Adjusted EBITDA excludes certain expenses and gains that are not indicative of core operating results, including impairment and other charges related to cost-saving efforts[44] - LTM adjusted EBITDA is defined as the total of last twelve months adjusted EBITDA, used to evaluate the Company's debt portfolio[44] Tax and Accounting Adjustments - The projected non-GAAP income tax rate for fiscal year 2026 is set at 15.5%[41] - Non-GAAP income tax adjustments aim to provide consistency across interim reporting periods[41] - The Company may periodically re-evaluate its non-GAAP tax rate based on changes in tax laws[41] - Non-GAAP diluted share count adjustments are made using the if-converted method for the 2028 exchangeable notes[42] - Strategic investment gains, losses, and impairment charges are excluded to provide a clearer view of the Company's operating performance[39] - Other charges, primarily IT transformation costs, are also excluded for a supplemental view of operating performance[40] - The Company assesses its sources of liquidity and capital structure using free cash flow as a non-GAAP measure[43] - Free cash flow is defined as net cash provided by operating activities less acquisition of property, equipment, and leasehold improvements[43]

Core Insights - Seagate Technology Holdings plc (NASDAQ:STX) has seen a significant increase in its stock price, rising by 256% over the past year and 28% year-to-date [2] - Analysts from BofA and Rosenblatt have raised their price targets for Seagate, indicating strong confidence in the company's future performance [2] Group 1: Stock Performance - Seagate's shares are among the top performers in the market, with a 256% increase over the past year and a 28% increase year-to-date [2] - BofA has increased its price target for Seagate from $320 to $400 while maintaining a Buy rating, citing potential to exceed analyst estimates in upcoming earnings [2] - Rosenblatt has also raised its price target from $270 to $370, maintaining a Buy rating, and noted strong demand for high-density memory devices as a growth driver [2] Group 2: Market Dynamics - Seagate is facing a shortage of products that cannot be met, which may impact its ability to fulfill demand [3] - The company is expected to benefit from the growing customer base for its heat-assisted recording memory technology, which is seen as a key catalyst for growth [2]

存储概念股齐涨，美光科技、闪迪涨超5%，西部数据涨超2%，希捷科技涨1.6%。 消息面上，美光科技宣布将在未来十年向新加坡追加投资240亿美元，用于建设新的NAND闪存晶圆 厂，以应对人工智能驱动的存储芯片供应紧张。此举凸显全球存储芯片市场的供需失衡正在加剧。 此外，业内消息源透露，三星电子、SK海力士已经与苹果进行谈判，决定大幅上调iPhone手机所用 LPDDR内存的价格。三星电子调整的涨幅超过80%，而SK海力士则接近100%。(格隆汇) ...

Core Viewpoint - Seagate Technology (STX) is experiencing significant growth driven by AI demand for storage solutions, with its stock reaching new all-time highs and a substantial increase in market value [1][5]. Company Overview - Seagate Technology is valued at $76.5 billion and is one of the largest manufacturers of hard disk drives in the U.S., producing various storage products including solid state drives [1]. - The company's storage products are essential for managing and storing large datasets used in artificial intelligence models [2]. Stock Performance - STX shares have increased by over 230% in the past 52 weeks, with a recent trading price of $358.29 [5][6]. - The stock has achieved a new all-time high of $370.47 on January 26 and has gained 29.49% since a "Buy" signal was issued on November 28 [3][4]. - Seagate has a 100% "Buy" technical opinion from Barchart, indicating strong market momentum [5][6]. Technical Indicators - The stock has a Weighted Alpha of +325.50 and a Relative Strength Index (RSI) of 70.56, suggesting strong upward momentum [6]. - A technical support level is identified around $346.04 [7]. Financial Metrics - Seagate has a trailing price-earnings ratio of 41.5x [8]. - Analysts project earnings growth of 46.7% in 2026 and 53.4% in 2027 [8].

Company Overview - Seagate Technology (STX) recently shipped 32TB SkyHawk AI, Exos, and IronWolf Pro hard drives globally, with prices ranging from approximately $699.99 to $849.99 per unit, supporting hyperscale workloads [1] - STX's stock was priced at $343.64 on January 23, reflecting a 24% increase year-to-date and a 214% increase over the past 52 weeks [2] - The company has a forward annual dividend of $2.96 per share, yielding roughly 0.91% [2] Financial Performance - STX reported earnings per share (EPS) of around $2.51 for the quarter ending September 2025, surpassing the consensus estimate of $2.11 by 18.96% [7] - The company disclosed typical sales of about $2.63 billion, a 7.6% year-on-year increase, and net income of around $549 million, reflecting a growth of about 12.5% [8] - The upcoming earnings report on January 27 is expected to show current-quarter EPS of $2.59, a 42.3% increase from $1.82 a year ago, with fiscal 2026 EPS projected at $10.46, up 44.1% from $7.26 last year [8] Market Trends - NAND contract prices are expected to rise again in early 2026 due to the growth of AI data and long-term purchasing by hyperscalers, marking a "historic" memory cycle that may last until 2026 [4] - The NAND flash market is projected to reach approximately $72.60 billion by 2030, driven by the rapid adoption of SSDs in various sectors [5] - Demand for memory chips is forecasted to grow by about 41.4% year-on-year, contributing to over $500 billion as AI data centers expand their capacity [6] Analyst Sentiment - Current analyst consensus rates STX shares as a "Strong Buy," with an average price target of approximately $347.36, which is about 0.2% above the current price [9] - The consensus from 21 analysts for SanDisk (SNDK) is a "Moderate Buy," with an average target of $359.06, indicating roughly 28.7% downside from the current price [14] - For Western Digital (WDC), the consensus from 25 analysts is a "Strong Buy," despite the average price target of $216.95 implying about 10.8% downside [18] - Micron Technology (MU) has a "Strong Buy" consensus from 41 analysts, with an average target of $330.46, which is about 16.9% below the current quote [24] Conclusion - The memory chip sector is experiencing significant price increases, with companies like STX, SNDK, WDC, and MU benefiting from strong earnings momentum and tight supply conditions [25]

美股存储板块盘前上涨，美光科技涨5%，闪迪、西部数据涨超3%，希捷科技涨2.7%。 美股存储板块盘前上涨，美光科技涨5%，闪迪、西部数据涨超3%，希捷科技涨2.7%。 (本文来自第一财经) (本文来自第一财经) ...

Seagate Technology Holdings PLC Earnings Preview: A Look into the FutureSeagate Technology Holdings PLC (NASDAQ:STX) is a leading figure in the data storage industry, renowned for its hard disk drives and storage solutions. As the company gears up to unveil its quarterly earnings on January 27, 2026, after the market closes, Wall Street analysts have set the earnings per share (EPS) expectation at $2.78 and anticipate revenue to be around $2.73 billion. This announcement is eagerly awaited, considering the ...