CEO Dave Mosley said the quarterly performance underscored the structural enhancements to the business model and healthy supply/demand environment for mass capacity storage.

Seagate Technology Holdings plc. (STX) shares climbed about 9% in Tuesday’s after-hours session after the data storage devices maker announced solid quarterly beat and issued upbeat guidance.

Fremont, California-based Seagate reported non-GAAP earnings per share (EPS) of $1.90 on revenue of $2.16 billion for the third quarter of the fiscal year 2025. 

The top line grew about 31% year over year (YoY), although the growth slowed from 50% in the preceding quarter.

The quarterly results beat the Finchat-compiled consensus estimates of $1.74 and $2.13 billion, respectively.

CEO Dave Mosley said, “Seagate delivered another solid quarter of profitable year-on-year growth and margin expansion, elevating our non-GAAP EPS to the top of our guidance range.”

“Our performance underscores the structural enhancements we’ve made to our business model and healthy supply/demand environment for mass capacity storage.”

The non-GAAP gross and operating margins expanded notably from a year ago to 36.2% and 23.5%, respectively.

The company said it generated $259 million in cash flow from operations and $216 million in free cash flow.

The board declared a quarterly cash dividend of $0.72 per share, payable on July 8 to shareholders of record as of June 25.

Seagate expects fourth-quarter non-GAAP EPS of $2.20-$2.60 and revenue of $2.40 billion, plus or minus $150 million, above the consensus estimates of $2.10 and $2.29 billion. 

On Stocktwits, retail sentiment toward Seagate stock turned ‘extremely bullish’ (100/100) by late Tuesday from the ‘neutral’ mood seen a day ago. The message volume also spurted to ‘extremely high’ levels.

STX sentiment and message volume as of 2:47 a.m. ET, April 30 | source: Stocktwits

A bullish watcher called the earnings report as “smashing” and said the stock will run toward the $120 level. Another called it “fantastic.”

Baird analyst Tristan Gerra noted that the company spoke about minimal impact due to tariffs this quarter. Its products are currently exempt on shipments to the U.S., he added.

Gerra has an ‘Outperform’ rating and $120 price target for Seagate stock.

Seagate stock has slid nearly 5% this year. 

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