Wednesday, September 4, 2024

Seagate sees Sept. quarter EPS, revenue at higher end of guidance, says Citi

Sep 04, 2024, 10:00 AM

 

Seagate’s CFO fireside chat indicated confidence that the company will achieve the higher end of its September quarter EPS and revenue guidance, though Heat Assisted Magnetic Recording cloud qualification is likely to be delayed to the December quarter, Citi tells investors in a research note. The firm, which made no change to its Buy rating or $125 price target, notes that Seagate’s CFO expects December quarter EPS and revenue improvement quarter over quarter and notes that profitability remains a focus.

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