Seagate Technology Holdings has seen a sharp uptick in financial performance, with shares rising over 6% after reporting non-GAAP earnings of $3.11 per share, surpassing Zacks Consensus Estimates. The company attributes its 22% year-over-year revenue growth to a strategic focus on AI-driven storage solutions, which now constitutes 79% of its data center revenue. With an enhanced operating margin and reduced long-term debt, Seagate projects continued strength, expecting fiscal third-quarter revenues of approximately $2.9 billion.
“NTAP, STX and SNDK · are trading at multiples of · 14.38X, 25.62X and 17.39X”
“Seagate Technology Holdings · closed · up · more than +6%”
“Seagate Technology Holdings (STX) · closed · up · more than +6%”
“Seagate Technology Holdings · closed · up · more than +6%”
“Seagate Technology Holdings plc · has a Zacks Rank · #1 · true”
“Seagate Technology Holdings plc · Zacks Consensus Estimate for its current year earnings increasing · 11.8% · over the last 60 days”
“Seagate Technology Holdings plc · has a PEG ratio · 0.86 · compared with 0.88 for the industry”
“Seagate Technology Holdings plc · possesses a Growth Score · A · true”
“Seagate Technology Holdings · closed up · percentage increase · +6%”
“Seagate Technology Holdings · closed up · +6%”
“Seagate Technology Holdings plc STX · is focused on · hardware drives · true”
“Seagate · expects free cash flow to increase · in the March quarter · true”