STX · Seagate Technology Holdings plc
Price & Indicators
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AI Brief
TL;DR.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Ask ALVIS about this →Equibles Research
our published analysis of this company-
Research ThesisSuper Micro Computer's 15–17% margin guide against a 10.1% recent print makes the bear trade the heavier one
The $60B FQ4 backlog is the cleanest demand signal in AI servers, but the lifted 15–17% gross-margin guide against a 10.1% Q3 FY2026 print, an active export-control board review, and 16.2% short interest leave the bear case as the heavier of the two trades heading into the August 11 print.
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Research ThesisSandisk's $42 billion contract floor has bought the bull case three times trailing revenue; the bear trades it for the multiple
Sandisk re-rated on one quarter of contracted datacenter revenue: three fiscal Q3 contracts carry roughly $42 billion of minimum contractual revenue, five multi-year deals are backed by over $11 billion of guarantees, and the stock still sits 45.3% off its $2,335 52-week high at 14.1× EV/Revenue, the cheapest of the three storage names on that multiple.
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from its earnings releases, calls, and filings| Metric | Latest | Period | YoY |
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| Capital returned to shareholders through dividends and share repurchases | $810M | FY 2026 | — |
| Cash flow from operations | $3.7B | FY 2026 | — |
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| Debt retired | $1.4B | FY 2026 | — |
| Free cash flow | $3.1B | FY 2026 | — |
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GAAP → non-GAAP reconciliationGAAP GAAP Net Cash Provided by Operating Activities 3,674M
-569M Acquisition of property, equipment and leasehold improvements
= Free Cash Flow 3,105M
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| Ordinary shares issued and outstanding | 227M | FY 2026 | — |
| non-GAAP gross margin non-GAAP | 42.2% | FQ2 2026 | — |
| non-GAAP Operating Margin non-GAAP | 31.9% | FQ2 2026 | — |
Figures exactly as the company stated them · click a metric with a to chart its history · period links open the stating document · "call" marks figures stated on the earnings call, "filing" figures stated in the 10-K/10-Q · YoY needs the prior-year figure on file
Versus peers
Computer Hardware — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
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STX
this stock
Seagate Technology Holdings plc
|
$189.85B | +204.9% | +1.6% | 60.3 | 3.2% |
|
DELL
Dell Technologies Inc.
|
$283.64B | +270.9% | +18.8% | 36.9 | 2.0% |
|
ANET
Arista Networks, Inc.
|
$242.57B | +50.6% | +28.6% | 60.9 | 1.6% |
|
SNDK
Sandisk Corp
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$200.00B | +468.9% | — | 47.0 | 5.3% |
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WDC
Western Digital Corp
|
$178.95B | +201.6% | +50.7% | 31.0 | 6.7% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| STX | +9.6% | -2.6% | +106.2% | -2.2% | +204.9% |
| SPY | +5.5% | +3.3% | +11.3% | +3.1% | +12.9% |
| vs SPY | +4.1% | -5.9% | +94.9% | -5.2% | +192.0% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.