Seagate Technology Holdings plc (NASDAQ:STX ) Wells Fargo 8th Annual TMT Summit Conference December 4, 2024 2:00 PM ET Company Participants Gianluca Romano - CFO Conference Call Participants Aaron Rakers - Wells Fargo Aaron Rakers Why don't we go ahead and get started. We'll stay on schedule here.
Seagate Technology Holdings plc (NASDAQ:STX ) UBS Global Technology and AI Conference December 3, 2024 3:35 PM ET Company Participants Dave Mosley - CEO Conference Call Participants Timothy Arcuri - UBS Securities LLC Timothy Arcuri Okay, we're going to start. I'm Tim Arcuri.
Seagate (STX) reported earnings 30 days ago. What's next for the stock?
Solid financial performance, strategic initiatives, and healthy market demand make Seagate an attractive investment opportunity.
Seagate Technology Holdings PLC NASDAQ: STX is the world's largest manufacturer of hard disk drives (HDDs), competing with Western Digital Co. NASDAQ: WDC, one of the largest makers of flash solid state drives (SSDs). After eight consecutive quarters of declining revenue facing normalization from the industry inventory glut, Seagate finally saw a revenue rise in fiscal Q4 2024, prompting a large guidance raise for the computer and technology sector leader in its fiscal first quarter of 2025.
Seagate (STX) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
The disk-drive provider beat quarterly estimates for earnings and sales but disappointing guidance seemed to take priority.
STX's first-quarter fiscal 2025 performance gains from an improvement in demand for mass capacity solutions.
Seagate Technology Holdings plc is well-positioned with multiple catalysts, including AI PC adoption, cloud data center expansions, and the impending traditional CPU server refresh. Management anticipates margin expansion due to growing AI application demand, particularly in video and image applications, and expects revenue growth from HDDs and Mozaic HAMR products. Seagate built up a significant level of inventory in Q1 '25 which may create a major tailwind for free cash flow generation for the duration of eFY25.
Seagate Technology Holdings plc (NASDAQ:STX ) Q1 2025 Earnings Conference Call October 22, 2024 5:00 PM ET Company Participants Shanye Hudson - I|R Dave Mosley - CEO Gianluca Romano - CFO Conference Call Participants Wamsi Mohan - Bank of America Krish Sankar - TD Cowen Amit Daryanani - Evercore Erik Woodring - Morgan Stanley Toshiya Hari - Goldman Sachs Asiya Merchant - Citigroup Aaron Rakers - Wells Fargo Timothy Arcuri - UBS C.J. Muse - Cantor Fitzgerald Steven Fox - Fox Advisors Ananda Baruah - Loop Capital Thomas O'Malley - Barclays Mark Miller - The Benchmark Company Karl Ackerman - BNP Paribas Operator Welcome to the Seagate Technology Fiscal First Quarter 2025 Conference Call.
While the top- and bottom-line numbers for Seagate (STX) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Seagate (STX) came out with quarterly earnings of $1.58 per share, beating the Zacks Consensus Estimate of $1.48 per share. This compares to loss of $0.22 per share a year ago.