Seagate Lifts Dividend 3% as FQ1 Profit Triples, Guides FQ2 to $4.8B
STX has more than doubled off its 52-week low of $217.67 on elevated volume (2.0× avg).
Summary
Seagate's fiscal Q1 net income tripled to $1.76 billion, or $7.59 a share, from $549 million a year earlier, on revenue that jumped to $4.23 billion from $2.63 billion. Adjusted EPS came in at $7.68. The board raised the quarterly dividend about 3% to $0.76 a share, payable January 7, 2027 to holders of record December 23, 2026. Management guided fiscal Q2 to $4.8 billion in revenue, plus or minus $100 million, and adjusted EPS of $9.20, plus or minus $0.20 — a step up from the quarter just reported. Shares were trading 5.20% lower at $633.10 overnight after closing Tuesday up 3.67%, so the print is being sold despite the beat and the dividend increase. This follows the 8-K filed last night with the same FQ1 figures and the FQ2 guide.
At the time of this announcement, STX was trading at $631.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $151.9B. The 52-week trading range was $217.67 to $1,145.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: dpa-AFX.