Track market-moving stories before they get noisy

Financial Insights Inc. bought a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 732 shares of the data storage provider’s stock, valued at approximately $706,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. NewEdge Advisors LLC grew its stake in Seagate Technology by 85.9% during the 1st quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock valued at $8,637,000 after acquiring an additional 10,190 shares in the last quarter. GLOBALT Investments LLC GA raised its holdings in Seagate Technology by 820.8% in the 4th quarter. GLOBALT Investments LLC GA now owns 9,760 shares of the data storage provider’s stock valued at $2,688,000 after acquiring an additional 8,700 shares during the last quarter. Tredje AP fonden lifted its stake in Seagate Technology by 446.6% in the 4th quarter. Tredje AP fonden now owns 111,339 shares of the data storage provider’s stock worth $30,662,000 after purchasing an additional 90,968 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Seagate Technology during the 1st quarter worth approximately $1,328,000. Finally, Profund Advisors LLC boosted its holdings in shares of Seagate Technology by 458.6% during the 4th quarter. Profund Advisors LLC now owns 20,282 shares of the data storage provider’s stock worth $5,585,000 after purchasing an additional 16,651 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling at Seagate Technology In related news, EVP John Morris sold 3,516 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $849.35, for a total transaction of $2,986,314.60. Following the completion of the transaction, the executive vice president owned 12,805 shares of the company’s stock, valued at approximately $10,875,926.75. This trade represents a 21.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Yolanda Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $815.11, for a total transaction of $611,332.50. Following the completion of the sale, the director owned 3,351 shares of the company’s stock, valued at $2,731,433.61. This trade represents a 18.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 191,765 shares of company stock valued at $161,865,249. 0.79% of the stock is currently owned by company insiders.

Seagate Technology Stock Performance STX opened at $849.28 on Monday. The stock has a market capitalization of $192.49 billion, a PE ratio of 61.19 and a beta of 2.06. Seagate Technology Holdings PLC has a one year low of $183.02 and a one year high of $1,145.00. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67. The business’s 50 day moving average price is $851.92 and its 200 day moving average price is $711.74. Seagate Technology (NASDAQ:STX – Get Free Report) last posted its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The company had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter last year, the firm earned $2.59 earnings per share. The firm’s quarterly revenue was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, equities research analysts expect that Seagate Technology Holdings PLC will post 35.7 EPS for the current year.

Seagate Technology Announces Dividend The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology’s dividend payout ratio (DPR) is 21.33%.

Trending Headlines about Seagate Technology Here are the key news stories impacting Seagate Technology this week:

Positive Sentiment: A rally that began in NAND memory broadened across the storage complex, with Seagate benefiting alongside SK Hynix and other memory-linked companies. The strength suggests investors are increasing exposure to companies positioned to supply AI data centers and expanding storage capacity. SK Hynix Surges 7% as Memory Bid Widens Beyond NAND; Seagate Rallies 5% Positive Sentiment: The broader AI trade remained a leading market theme, supporting semiconductor and storage shares. Seagate’s recent results reinforce the bullish case: quarterly revenue rose 48.5% year over year to $3.63 billion, while EPS of $5.71 exceeded estimates and management guided to $7.10–$7.50 in fiscal first-quarter 2027 EPS. Memory, Other AI-Related Stocks Lead the Market’s Top Performers Friday Neutral Sentiment: Director Yolanda Lee Conyers sold 750 shares for approximately $611,000, but the transaction was executed under a pre-arranged Rule 10b5-1 plan. The sale is therefore a limited signal of changing insider sentiment. Negative Sentiment: CEO William Mosley separately sold 30,000 shares valued at approximately $24.5 million under a 10b5-1 plan. Although he retained a substantial stake, the sizable insider sale may weigh modestly on sentiment, particularly after STX’s strong run and elevated valuation. Wall Street Analyst Weigh In STX has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Seagate Technology from $1,100.00 to $1,180.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Morgan Stanley boosted their price objective on Seagate Technology from $1,035.00 to $1,187.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. TD Cowen upped their target price on Seagate Technology from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Melius Research initiated coverage on Seagate Technology in a research note on Monday, June 29th. They issued a “buy” rating and a $1,600.00 target price for the company. Finally, China Renaissance lifted their price target on Seagate Technology from $802.00 to $983.00 in a report on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $986.00.

Get Our Latest Analysis on Seagate Technology

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Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.

Further Reading Five stocks we like better than Seagate Technology AI Token Costs Are Changing the Hardware vs. Software Debate 3 ETFs That Could Move as Rate Expectations Shift 3 Stocks With September Catalysts Investors Shouldn’t Ignore Ollie’s Bargain Outlet Stock Falls on Weak Comps Despite Margin Gains Want to see what other hedge funds are holding STX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seagate Technology Holdings PLC (NASDAQ:STX – Free Report).

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Seagate has already handed investors gains that dwarf Nvidia's returns over the past year, and Wall Street analysts think the storage giant still has a long way to run before this AI trade exhausts itself.

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Seagate Technology (NASDAQ:STX | STX Price Prediction) has quietly become one of the loudest AI stories on the market. Shares are up 202.07% year to date and 385.3% over the past year, riding a wave of hyperscaler orders for mass-capacity hard drives.

CEO Dave Mosley told investors last month that “As AI accelerates data generation and its value, we see durable long-term demand for mass capacity storage,” and the numbers back him up. With shares near $829.76, the question is whether Seagate can push through to $1,000 in 2027.

Wall Street Sees Even More Upside From Here The Street is unusually aggressive on this storage name. The consensus 1-year price target sits at $1,125, with 18 Buy and 4 Strong Buy ratings against just 2 Hold calls. That implies analysts see roughly 36% upside from current levels, well above our $1,000 bull case.

Why the optimism? Fiscal 2026 revenue grew 34.06% to $12.20 billion, and net income more than doubled to $3.18 billion. Q4 revenue jumped 48.49% year over year to $3.63 billion, and non-GAAP EPS of $5.71 topped estimates by 12.11%. Seagate has now beaten EPS expectations for four consecutive quarters, which suggests forward numbers may still be too low.

Path to $1,000 Per Share in 2027 Trailing valuation looks eye-watering at 61x earnings, but the forward multiple tells the real story. Forward P/E stands at 24x, roughly in line with the S&P 500’s forward multiple near 22x.

Management guided fiscal Q1 2027 to non-GAAP EPS of $7.30 on revenue of $4.1 billion. If that quarterly run-rate sustains through fiscal 2027, annual EPS could clear $28 to $30. At $1,000, shares would trade around 33x to 36x forward earnings. Rich, but defensible for a business compounding revenue at a 20%+ target rate.

Here is what could push STX to $1,000:

Locked-in hyperscaler demand. Mosley told analysts that “Nearline capacity almost fully allocated through calendar 2027,” with build-to-order contracts covering pricing and configurations for the entire fiscal year. HAMR ramp accelerating. Mozaic HAMR drives are qualified with five of the world’s largest cloud customers, and Mozaic 4 delivers “up to 44 terabytes per drive,” “over 30% more capacity compared to the first generation” with minimal added cost. Margin expansion. GAAP gross margin hit 52.3% in Q4, up from 37.4% a year earlier. Value-based pricing and mix shift into higher-capacity drives should continue. Structural AI tailwinds. Mosley described a “period of structural growth,” citing autonomous vehicles producing “up to four terabytes per hour” and compliance retention stretching “five to 10 years.” Balance sheet cleanup. Seagate retired $1.40 billion in debt in fiscal 2026, freeing up capital that management said would likely return to share buybacks. Recent History Shows $1,000 Is Within Reach A move from $829.76 to $1,000 requires roughly 20% upside. That is well within STX’s demonstrated range. The stock has already returned 1,015.99% over five years and 3,605.64% over ten.

Even more telling, shares gained 8.55% in the past month alone, and the 52-week high of $1,144.18 shows the market has already priced STX above $1,000 this year. Getting back there is more of a re-rating than a leap.

Bottom Line on $1,000 Hitting $1,000 requires roughly 20% upside from here, a modest ask for a stock that has already tripled off its 2025 base. Wall Street’s $1,125 consensus, a four-quarter beat streak, exabyte capacity sold out through calendar 2027, and a Fitch upgrade to investment grade all point in the right direction.

Hyperscaler concentration and tariff risk remain real. Still, if the Mozaic ramp holds and cloud CapEx stays elevated, we’ve outlined the blueprint for how Seagate could see outsized returns in 2027. Storage is only one slice of the AI buildout, though. We profiled seven other suppliers powering the data-center boom, from cooling to networking, in a free report you can grab here.

Contact [email protected] for any questions or corrections.

Few large-cap tech stocks have moved like Seagate Technology (NASDAQ:STX | STX Price Prediction) over the past five years. The hard drive maker was left for dead in 2021 as investors braced for NAND to eat HDD, yet the AI data explosion flipped the narrative.

Cloud giants now depend on Seagate’s Mozaic HAMR platform to store the exabytes their AI models generate, and the stock has responded in kind. The question is whether the run has legs into 2027, or whether the easy money has already been made.

Seagate Technology trades at $832.56 after a wild year that included a 431.49% one-year gain and a 980.57% five-year return. Our 24/7 Wall St. price target for Seagate is $946.08 over the next 12 months, implying modest but real upside from here. The recommendation is buy at high confidence, with structural cloud demand and HAMR economics driving the thesis.

Metric Value Current Price $832.56 24/7 Wall St. Price Target $946.08 Upside 13.63% Recommendation BUY Confidence Level 90% Momentum Cooled, but Fundamentals Accelerated STX slipped 5.2% over the past week and sits roughly 27% off its $1,144.18 52-week high.

Yet FY2026 delivered 34.06% revenue growth to $12.20 billion, non-GAAP EPS of $15.58, and record free cash flow of $3.11 billion. Q4 GAAP gross margin hit 52.3%, up from 37.4% a year prior. Management guided Q1 FY27 revenue to $4.1 billion and non-GAAP EPS of $7.30, signaling the ramp is accelerating.

Why Bulls See a Breakout Ahead CEO Dave Mosley described Seagate as entering “a period of structural growth” and lifted the annual revenue growth target to “a minimum of 20% over the next few years.” Nearline capacity is “almost fully allocated through calendar 2027,” and the top three cloud providers have nearly doubled their RPO to a staggering $1.1 trillion (the same buildout we mapped across power, cooling, and networking suppliers in a free report here: 7 Stocks Powering the AI Boom).

Mosaic 4 delivers up to 44 terabytes per drive, with Mosaic 5 targeting 50 terabytes by late 2027. A bull scenario points to $1,221, matching Morgan Stanley’s earlier $1,035 target environment.

What Could Go Wrong STX carries a beta of 2.102 and a trailing P/E of 71x. Hyperscaler concentration is real: 80% of revenue is data center. Dilution from the 2028 Exchangeable Senior Notes looms, though management retired $1.40 billion in debt across FY26.

A bear case takes shares to $703. The forward P/E of 28x and PEG of 0.569 suggest earnings growth is driving gains, with limited room for multiple expansion.

How Seagate Compares to Western Digital and Micron Western Digital (NASDAQ:WDC) is the cleanest peer, a pure-play HDD maker post-Sandisk separation. WDC posted FY26 revenue of $12.92 billion and non-GAAP EPS of $10.22, guiding Q1 FY27 to $4.1 billion in revenue and $4 EPS. Its market cap of $166.6 billion sits below Seagate’s $204.8 billion, but Seagate’s HAMR lead and higher EPS run rate justify the premium.

Micron Technology (NASDAQ:MU) offers AI memory context. Its fiscal Q3 revenue of $41.46 billion and Q4 guide of $50 billion put Seagate’s growth in perspective. Micron plays in DRAM and HBM, a different segment from storage, making it a complement rather than a substitute. The shared AI thesis makes Seagate’s Mosaic-driven margin story reasonable.

Company Forward P/E Market Cap Seagate 28 $204.8B Western Digital N/A $166.6B Micron N/A $1.06T My Take: Structural Demand Anchors the Thesis My 24/7 Wall St. price target for Seagate is $946.08, a buy at 90% confidence. The tipping factor is nearline capacity allocated through calendar 2027, which gives the earnings ramp visibility most cyclical stocks lack.

The thesis holds for investors who can stomach a beta above 2 and view pullbacks as entry windows. It weakens if hyperscaler capex signals soften or if HAMR yields disappoint.

Year 24/7 Wall St. Price Target 2026 $946 2027 $1,278 2028 $1,475 2029 $1,690 2030 $1,900 These projections assume Seagate executes Mosaic 4 and 5 on schedule. Significant upside or downside could come from a hyperscaler capex reset or a faster-than-expected NAND price crash.

Contact [email protected] for any questions or corrections.

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Seagate Technology (NASDAQ:STX | STX Price Prediction) has quietly become one of the AI trade’s most explosive winners, with shares up 445.36% over the past year on surging hyperscaler demand for mass-capacity storage.

Our 24/7 Wall St. price target for Seagate is $916.25, implying 11.67% upside from the current $820.52 price. We rate the stock a buy with high conviction.

24/7 Wall St. Price Target Summary Metric Value Current Price $820.52 24/7 Wall St. Price Target $916.25 Upside 11.67% Recommendation BUY Confidence Level 90% Our confidence is anchored in four consecutive quarterly EPS beats, accelerating cloud demand tied to AI infrastructure, and a HAMR technology roadmap now qualified with every major U.S. hyperscaler.

Q4 Results Anchor the Setup Seagate closed fiscal 2026 in July with a blowout Q4: revenue of $3.629 billion (up 48.5% year over year) and non-GAAP EPS of $5.71, beating consensus by 12.11%. Full-year free cash flow hit a record $3.105 billion, up 279.58%.

Shares have pulled back 9.87% over the past month after peaking near $1,144.18, but the YTD gain still stands at 198.7%. CEO Dave Mosley credited “robust cloud data center demand and disciplined execution” for the run.

The Case for $1,200+ Bulls point to a demand backdrop management has called extraordinary. Mosley told investors “our nearline capacity is fully allocated through calendar year 2026”, with pricing negotiations already underway for 2027 and 2028.

The Mozaic HAMR platform is qualified with all major U.S. cloud service provider customers, and Q1 FY27 guidance calls for revenue of $4.10 billion and EPS of $7.30.

Wall Street’s average target is $1,115.87, with 22 buy ratings against one sell. Our bull-case scenario gets Seagate to $1,217.52, a 48.38% gain.

What Could Go Wrong The trailing P/E of 58 leaves no margin for error if hyperscaler capex cools. Insiders have been net sellers across 252 recent transactions, and Seagate flagged tariff uncertainty and Middle East conflict as guidance risks. A beta above 2 means volatility cuts both ways.

It should be noted, however, that insider selling near record highs often reflects routine profit-taking rather than a fundamental warning, and Seagate retired $1.40 billion in debt during FY26, materially reducing balance-sheet risk. Our bear case sees shares at $682.09.

How Seagate Compares to Western Digital and Micron Western Digital (NASDAQ:WDC) is the closest pure-play HDD peer and directly competes for the same hyperscaler orders. WDC trades at a forward P/E of 22 with a trailing P/E of 18, nearly identical to Seagate’s forward multiple but with slower quarterly revenue growth of 43.8%.

Micron Technology (NASDAQ:MU) offers a memory-side view of the AI storage boom, trading at a forward P/E of just 6, a reminder that memory economics differ sharply from HDD. On balance, peer multiples make our Seagate target look reasonable rather than aggressive.

Company Forward P/E Trailing P/E Seagate 23 58 Western Digital 22 18 Micron 6 20 Seagate Price Prediction 2026-2030 The 24/7 Wall St. price target of $916.25 reflects a buy rating with 90% confidence. The key factor tipping the scale is capacity allocation: Seagate is sold out through 2026 with pricing power intact.

The bull thesis holds if hyperscaler capex commentary stays firm through the next earnings cycle. The setup weakens if forward EPS estimates flatten or HAMR qualifications slip at Mozaic 4.

Year 24/7 Wall St. Price Target 2026 $916 2027 $1,015 2028 $1,100 2029 $1,160 2030 $1,208 These projections assume Seagate continues executing on its HAMR roadmap and hyperscaler demand for mass-capacity storage remains durable. Significant upside or downside could come from a step-change in AI storage architecture or a cyclical hyperscaler capex reset.

Contact [email protected] for any questions or corrections.

Key Takeaways Seagate posted record fiscal fourth-quarter profitability and cash flow on strong AI and cloud demand.HAMR adoption is accelerating, with Mozaic 4 ramping and HAMR exabytes expected to hit 50% by year-end 2026.Seagate's strong cash flow and debt reduction support growth, but execution and valuation risks remain. Seagate Technology Holdings plc (STX - Free Report) has delivered dramatic turnarounds in the AI-driven storage space in 2026. The fiscal fourth quarter was a record quarter for profitability and cash flow, driven by strong data center demand, faster HAMR adoption and value-based pricing. The company generated approximately $3.6 billion in revenue, up 49% year over year, while adjusted EPS reached $5.71, representing 120% year-over-year growth.

More importantly, Seagate's forward guidance was arguably even more impressive than the quarterly beat. Its BTO model points to sustained demand for high-capacity nearline drives amid rising AI adoption. The company expects continued revenue and margin growth in the September quarter, backed by the Mozaic rollout and disciplined pricing. Management expects first-quarter fiscal 2027 revenue of $4.1 billion, up 56% year over year at the midpoint.

STX shares have gained 99.5% in the past six months, outperforming the Zacks Computer-Integrated Systems industry’s growth of 74.7%. The stock has also outperformed the Zacks Computer & Technology sector and the S&P 500’s growth of 18.2% and 11.7%, respectively.

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The company has also outperformed its cut-throat competitors in the storage space, like Western Digital Corporation (WDC - Free Report) , Everpure (P - Free Report) and NetApp, Inc. (NTAP - Free Report) . WDC has gained 58.6%, while P and NTAP have risen 18.4% and 78.9% during the same time frame.

After a blockbuster fiscal fourth quarter, the key question for investors is whether STX stock can continue climbing after its enormous rerating. The answer is yes, but the risk-reward is becoming more balanced. Seagate's fundamentals remain unusually strong, yet expectations and valuation have also moved sharply higher.

Let’s delve in deeper.

AI is Creating a Structural Storage Tailwind for STXAI infrastructure requires enormous amounts of data storage. Training is just one part of the picture. AI inference, data lakes, model development, surveillance, enterprise applications and cloud workloads all produce additional data that needs to be stored. Seagate is well-positioned because its strength is mass-capacity hard disk drives, which are still much more economical than flash storage for many large-scale archival and nearline workloads. Its fiscal fourth-quarter results highlighted strong cloud and AI-driven demand, solid pricing and ongoing supply-demand tightness. Management also highlighted the increasing adoption of its HAMR-based Mozaic technology, enabling it to boost storage capacity without proportionally increasing the physical size of its drives.

HAMR could be the next major catalyst. Seagate's Mozaic platform is designed to significantly increase areal density, allowing customers to store more data per drive. HAMR products accounted for about 40% of Seagate’s nearline exabyte shipments by fiscal 2026-end. Mozaic 4, supporting up to 44TB, is ramping with major cloud customers, with HAMR exabytes expected to reach 50% by year-end 2026. Higher-capacity 4TB and 5TB-per-disk products should further increase exabyte output without requiring a proportional increase in drive volumes.

Strong cloud, AI and data-reuse trends continue to support mass-capacity storage demand, with cloud data centers now accounting for about 90% of exabyte shipments. Customers are extending planning horizons into 2029 and beyond, providing strong demand visibility. Seagate is maintaining disciplined order management and value-based pricing, supported by tight industry supply and favorable demand. This is expected to support healthy margins and profitable growth. The company targets a mid-20% exabyte CAGR, with growth recently exceeding 30%.

Furthermore, data-intensive applications, including video, sensors and enterprise unstructured data, are driving storage demand. Seagate expects application-driven demand to expand over the coming years, with AI still in its early stages but increasingly supporting key-value caching and unstructured data workloads at hyperscalers. Over the longer term, physical AI applications such as robotics and autonomous vehicles could further accelerate data creation and storage needs.

Strong Margins, Cash Flow & Deleveraging Boost STX’s FinancesSeagate delivered strong margin and cash flow momentum, with non-GAAP gross margin expanding for the 13th consecutive quarter to 52.7% and operating margin reaching 44.6%. Free cash flow rose to $1.12 billion in the fiscal fourth quarter, bringing fiscal 2026 numbers to a record $3.1 billion. At the same time, the company reduced gross debt by $1.4 billion during fiscal 2026 and further retired $1 billion of high-yield notes in July. Continued cash generation, pricing gains and operating leverage should support further deleveraging and provide greater flexibility for dividends, share repurchases and technology investments.

The company plans to retire an additional $1.2 billion in debt in September, reducing gross debt to $2.4 billion. Capital expenditures for 2027 are expected to stay within 4-6% of revenue, supporting manufacturing investments.

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However, Seagate faces execution risks from HAMR transitions, including manufacturing complexity, qualification delays and yield issues that could pressure growth and margins. Heavy reliance on large cloud customers also creates concentration risks, while tariffs, trade restrictions, FX and shifts in global tech spending could adversely impact results. Seagate faces tough competition from other players in the data storage industry, including Western Digital, SSD providers and other storage-system vendors, which remains intense.

Upbeat Estimate Revision Trend for STXSTX is currently witnessing an uptrend in estimate revisions. Earnings estimates for fiscal 2027 have moved up 30.7% to $34.99 over the past 60 days, while the same for fiscal 2028 has gone up 30% to $55.85.

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But STX is No Longer CheapGoing by the price/earnings ratio, the company’s shares currently trade at 21.95 forward earnings, higher than 11.65 for the industry.

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In comparison, the forward 12-month price/earnings multiple for P, NTAP and WDC are 75.41X, 25.68X and 20.73X, respectively.

Does STX Still Have Room to Run?Several potential catalysts could push STX stock even higher, including upward EPS revisions, sustained pricing power, faster HAMR adoption, strong hyperscaler AI spending and robust free cash flow supporting debt reduction and shareholder returns. The recent quarterly results were exceptional, and the forward revenue outlook suggests momentum is continuing into fiscal 2027. If Seagate can maintain pricing power, expand HAMR adoption and convert AI-driven demand into sustained free-cash-flow growth, the stock can still move higher from current levels.

Flaunting a Zacks Rank #1 (Strong Buy) currently, STX remains a compelling portfolio addition for investors now. You can see the complete list of today’s Zacks #1 Rank stocks here.

Key Takeaways Seagate enters fiscal 2027 with cloud and AI demand lifting high-capacity hard-drive sales.Nearline supply is largely allocated into 2028, while customer planning extends into 2029 and beyond.HAMR reached about 40% of Seagate's nearline exabyte run rate, boosting capacity without more drive units. Seagate Technology Holdings plc (STX - Free Report) is entering fiscal 2027 with demand visibility rarely seen in the cyclical storage market. Cloud infrastructure growth, AI-related data creation and rising retention needs are lifting demand for high-capacity hard drives.

The company’s heat-assisted magnetic recording, or HAMR, transition is central to that outlook. Better pricing, allocated nearline supply and operating leverage are turning higher exabyte demand into a stronger earnings and cash-flow profile.

Seagate’s AI Demand Extends Revenue VisibilityJune-quarter data center revenue increased 57% year over year to $2.93 billion. Nearline exabyte shipments rose 43%, showing that growth is coming through both higher capacity and stronger cloud demand.

Data center customers now account for roughly 90% of Seagate’s exabyte shipments. The vast majority of nearline supply is allocated into calendar 2028, while customer planning discussions extend into 2029 and beyond.

STX’s HAMR Rollout Raises Capacity and EfficiencyHAMR-based products represented about 40% of Seagate’s nearline exabyte shipment run rate at the end of fiscal 2026. That matters because higher areal density allows the company to ship more exabytes without relying on a major increase in drive units.

Mozaic 3 products are qualified and running in production environments across all major cloud customers. Mozaic 4 is ramping with the two largest global cloud service providers, and management expects Mozaic 4 to represent 50% of HAMR exabytes by the end of calendar 2026.

STX’s Debt Reduction Expands Financial FlexibilitySeagate reduced gross debt by $1.4 billion during fiscal 2026 and ended the year with net leverage of 0.4 times adjusted EBITDA. Cash and cash equivalents stood at $1.7 billion, supported by $3 billion of liquidity.

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The company also retired $300 million of debt in the June quarter and outlined additional note retirements. Lower interest costs would improve flexibility for dividends, repurchases and continued investment in the HAMR roadmap.

Seagate’s Execution Risks Temper the Growth StoryThe growth case still depends on execution. Customer qualifications can take time, HAMR manufacturing yields may vary and product transitions from 3-terabyte to 4-terabyte and 5-terabyte platforms can create temporary factory inefficiencies.

Customer concentration and cloud spending cycles remain important risks because global cloud customers drive most nearline demand. Western Digital Corporation (WDC - Free Report) is Seagate’s closest hard-drive peer, while Micron Technology, Inc. (MU - Free Report) is relevant because solid-state storage and memory compete for higher-performance tiers in AI architectures. Trade restrictions, foreign exchange exposure and solid-state alternatives also deserve attention.

STX’s Growth Signal Comes With Style Trade-OffsThe bottom line is that Seagate’s fiscal 2027 setup is supported by demand visibility, HAMR adoption and a sharply improved margin structure. Those positives are meaningful, but the stock still carries trade-offs tied to valuation and price behavior.

STX currently has a Zacks Rank #1 (Strong Buy), which points to a favorable near-term earnings estimate revision backdrop. The stock’s Growth Score of A is consistent with its improved revenue, earnings and cash-flow profile. You can see the complete list of today’s Zacks #1 Rank stocks here.

The offset is clear in the other Style Scores. STX has a Value Score of F, a Momentum Score of D and a VGM Score of D, suggesting investors should weigh the growth signal against valuation and momentum concerns before treating the story as one-dimensional.

Posted by Defense World Staff on Jul 30th, 2026

Amundi raised its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) by 32.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 965,565 shares of the data storage provider’s stock after acquiring an additional 235,359 shares during the quarter. Amundi owned about 0.43% of Seagate Technology worth $378,267,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Seagate Technology by 23.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 15 shares during the period. Salomon & Ludwin LLC grew its stake in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 51 shares during the period. WealthCollab LLC grew its stake in Seagate Technology by 27.4% during the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 20 shares during the period. Catalyst Capital Advisors LLC bought a new stake in Seagate Technology in the first quarter worth approximately $39,000. Finally, Concord Wealth Partners bought a new stake in Seagate Technology in the fourth quarter worth approximately $28,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades A number of equities analysts have issued reports on STX shares. Morgan Stanley increased their price target on Seagate Technology from $1,035.00 to $1,187.00 and gave the stock an “overweight” rating in a report on Wednesday. China Renaissance boosted their target price on shares of Seagate Technology from $802.00 to $983.00 in a research report on Friday, June 12th. Barclays increased their target price on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Citigroup raised their price target on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Seagate Technology in a research note on Wednesday, June 24th. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Seagate Technology has an average rating of “Moderate Buy” and a consensus price target of $970.00.

Read Our Latest Stock Analysis on Seagate Technology

Seagate Technology Stock Performance NASDAQ STX opened at $764.43 on Thursday. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The company has a fifty day simple moving average of $895.22 and a 200 day simple moving average of $622.36. Seagate Technology Holdings PLC has a 12-month low of $138.30 and a 12-month high of $1,145.00. The company has a market cap of $171.41 billion, a P/E ratio of 55.07 and a beta of 2.04.

Seagate Technology (NASDAQ:STX – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 680.78%. The firm had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period last year, the company earned $2.59 earnings per share. The business’s revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Sell-side analysts predict that Seagate Technology Holdings PLC will post 26.84 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be issued a dividend of $0.74 per share. The ex-dividend date is Thursday, September 24th. This represents a $2.96 annualized dividend and a yield of 0.4%. Seagate Technology’s dividend payout ratio is 28.08%.

Seagate Technology News Roundup Here are the key news stories impacting Seagate Technology this week:

Positive Sentiment: Results exceeded expectations: Seagate reported non-GAAP EPS of $5.71 versus the $5.10 consensus and revenue of $3.63 billion versus $3.50 billion. Revenue rose 48.5% year over year, while the company highlighted record profitability and $3.1 billion in fiscal-year free cash flow. Seagate fiscal fourth-quarter results Positive Sentiment: Upbeat guidance raised confidence: Fiscal first-quarter 2027 EPS is expected at $7.10-$7.50, well above the approximately $5.63 analyst estimate, with revenue guidance of $4.0-$4.2 billion versus consensus near $3.7 billion. The outlook supports the view that demand is not limited to a short-lived AI spending spike. Seagate AI-driven storage outlook Positive Sentiment: AI storage demand and pricing power: Cloud and data-center customers are expanding storage capacity, while Seagate’s HAMR and Mozaic technologies allow higher-capacity drives without equivalent manufacturing expansion. Analysts cited strong execution, scarce supply and a potentially favorable new pricing environment. Wall Street praises Seagate execution and pricing power Positive Sentiment: Analyst sentiment improved: Citi, JPMorgan, Wells Fargo, TD Cowen, Wedbush, Susquehanna and Rosenblatt raised their price targets, with targets ranging from $875 to $1,400. Cantor Fitzgerald also reaffirmed an overweight rating with a $1,300 target, reinforcing the bullish reaction to the earnings report. Neutral Sentiment: Dividend declared: Seagate announced a quarterly dividend of $0.74 per share, payable October 7 to shareholders of record September 24. The payout provides income support but is modest relative to the stock’s valuation and growth profile. Negative Sentiment: Valuation and volatility remain risks: The stock trades at a high earnings multiple after a major rally, and its elevated beta leaves it vulnerable if AI infrastructure spending slows. A broader memory-sector selloff and concerns that strong results are already priced in could limit further gains. Insider Buying and Selling In related news, CEO William D. Mosley sold 20,657 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $910.48, for a total transaction of $18,807,785.36. Following the transaction, the chief executive officer directly owned 320,860 shares of the company’s stock, valued at $292,136,612.80. This trade represents a 6.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 989 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $870,507.91. Following the completion of the sale, the executive vice president directly owned 4,290 shares of the company’s stock, valued at $3,776,015.10. The trade was a 18.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 151,069 shares of company stock valued at $126,191,753. 0.79% of the stock is owned by corporate insiders.

Seagate Technology Company Profile (Free Report)

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.

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Live Coverage Updates appear automatically as they are published.

Live Updates Pinned 1 hour ago

Live

This live blog is being updated by Thomas Richmond, a 24/7 Wall St. contributor. You’ll get expert analysis of Seagate Technologies’ earnings.

Simply stay on this page, and new updates will appear below automatically. We expect Seagate to release earnings shortly after 4:05 p.m. ET.

31 minutes ago

Live

That wraps up our initial coverage of Seagate’s Q4 results. Thank you for stopping by!

46 minutes ago

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Seagate Technology expects its momentum to accelerate into fiscal 2027, guiding for first-quarter revenue of $4.1 billion, plus or minus $100 million, and adjusted EPS of $7.30, plus or minus $0.20.

At the midpoint, that represents approximately 13% sequential revenue growth and 28% sequential adjusted EPS growth from Q4. Management expects minimal impact from tariffs or the current Middle East conflict.

The outlook suggests Seagate’s record fiscal 2026 was more than a cyclical peak. Robust cloud data-center demand and the Mozaic HAMR ramp are carrying meaningful momentum into the new fiscal year.

47 minutes ago

Live

Seagate’s Q4 revenue increased 48% year over year to $3.629 billion, but earnings grew considerably faster as the company captured massive operating leverage.

Adjusted gross margin expanded to 52.7% from 37.9%, while adjusted operating margin jumped to 44.6% from 26.2%. Adjusted EPS more than doubled to $5.71 from $2.59.

Higher-capacity drives allow cloud customers to store more data efficiently while enabling Seagate to generate substantially more profit from each dollar of revenue.

1 hour ago

Live

Seagate Technology just reported earnings, with shares initially up 1% following the report. Here are the key numbers:

Revenue: $3.629 billion vs. $3.49 billion expected Adjusted EPS: $5.71 vs. $5.09 expected Adjusted Gross Margin: 52.7% Free Cash Flow: $1.1 billion Quick Read:

Seagate beat revenue estimates by 4% and adjusted EPS estimates by 12%, with revenue rising 48% year over year.

Record annual free cash flow of $3.1 billion and robust cloud data-center demand strengthen the Mozaic and HAMR growth story heading into fiscal 2027.

1 hour ago

Live

Seagate Technology (NASDAQ:STX | STX Price Prediction) earnings are due at 4:05 PM ET.

Company guidance: $3.45 billion in revenue and $5.00 non-GAAP EPS; Street consensus: $5.09 on $3.49 billion.

Key KPIs: non-GAAP gross margin (last: 47.0%), Mozaic HAMR qualifications, nearline exabyte shipments, free cash flow (last quarter: $953 million), and FY27 framing.

Fresh catalyst: Rosenblatt initiated coverage at Buy with a $1,300 target this afternoon, joining Wedbush and Morgan Stanley defending shares through the sector selloff.

Positioning is defensive. Put/call ratio: 1.21; shares at $750.60 after 8.13% intraday drop.

Trigger levels: EPS above $5.20 with margins expanding past 48% validates the AI storage thesis; a result under $5.00 with soft FY27 commentary risks a sharp reset given the 197.42% YTD rally.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Seagate Technology didn't make the cut. Grab the names FREE today.

1 hour ago

Live

Four Wildcards Not Priced Into Consensus Beyond the headline guidance, four surprise factors could swing tonight’s reaction.

First, tariff escalation: management’s Q4 outlook assumed “minimal expected impact from global tariff policies”, leaving any commentary shift as unpriced risk.

Second, the Exchangeable Senior Notes due 2028 carry dilution that scales with the share price, currently $750.46.

Third, Pillar Two global minimum tax pushes Seagate (NASDAQ:STX)’s Ireland-domiciled effective rate into the mid-teens for FY2026, a potential tax-line surprise.

Fourth, exabyte shipments. Polymarket crowds assign 89.5% odds above 210 EB but only 39.5% above 220 EB. A reported figure above 220 EB would validate HAMR/Mozaic yield claims.

Shares already slid 8.14% today, and July 31 put/call volume ratio sits at 1.08, confirming that investors are hedging ahead of earnings.

1 hour ago

Live

Bull Case Momentum is undeniable: Seagate has posted four straight beats, most recently topping estimates by 16.94% in Q3. AI storage tailwind: Polymarket assigns a 91.5% probability of exabyte shipments exceeding 200 EB, validating hyperscaler demand. Analyst conviction: 21 Buy ratings versus 1 Sell, with a $1,008.61 average target. Bear Case Valuation stretched: Shares trade at a P/E of 81 after a 197.42% YTD run. Sell-the-news risk: Despite a Q2 beat, the stock fell 14.32% over 30 days. Defensive positioning: Put volume of 6,142 exceeds calls at the July 31 expiration, and insiders show net selling. Consensus is elevated: Street expects $5.09 EPS on $3.49 billion, above guidance midpoints. Watch the Mozaic HAMR commentary and FY27 framing for direction.

2 hours ago

Live

Seagate Technology reports fiscal Q4 earnings tonight at 4:05 PM ET after the bell, with management guiding to $3.45 billion in revenue and $5.00 in earnings per share at the midpoint.

The company is pursuing its fifth consecutive earnings beat, but expectations have soared alongside the stock’s 197.42% year-to-date rally. Investors will focus on the Mozaic HAMR ramp, cloud customer qualifications, and management’s initial framing of fiscal 2027 growth.

Seagate now trades at roughly 81 times trailing earnings, while the $1,008.61 average analyst target assumes continued HAMR-driven operating leverage. A clean beat could reinforce the structural growth story.

However, weaker exabyte shipments or qualification delays would revive concerns that Seagate remains a cyclical hard-drive company enjoying an unusually strong upturn.

Seagate Technology (NASDAQ:STX) reports fiscal Q4 2026 results tonight at 4:05 PM ET. With shares up 445.89% over the past year, but down 8.28% today, the earnings report will test whether HAMR execution and cloud demand can justify a $170 billion market cap.

Momentum Meets a Higher Bar Last quarter reset expectations. Seagate delivered $3.1 billion in revenue, up 44% year-over-year, with non-GAAP gross margin expanding to 47% from 36.2% a year earlier. Free cash flow reached $953 million, the highest in over a decade.

CEO Dave Mosley raised the multi-year revenue growth target from “low- to mid-teens to a minimum of 20% over the next few years,” citing structural AI-driven storage demand. Nearline capacity is almost fully allocated through calendar 2027. Since the April earnings report, STX has climbed 41.2%, though it has slipped 9.21% over the past month as investors digest valuation.

Consensus Estimates Metric Q4 FY2026 Estimate YoY Change FY2026 Guide Midpoint Revenue $3.49B +41% $3.45B EPS (Non-GAAP) $5.09 N/A $5.00 Consensus sits just above management’s guided midpoint, a modest cushion given Seagate’s four consecutive beats ranging from 6.01% to 16.94%. Operating margin is guided to the lower 40% range, extending the leverage story.

HAMR Qualification and Margin Durability Take Center Stage Tonight, I’ll be watching four things when Seagate reports.

Mozaic qualification progress. Two of the four largest cloud customers were qualified in Q3, with the remaining two expected to complete qualification in the current quarter. Confirmation matters for the fiscal 2027 target of 70% of nearline exabytes on HAMR. Exabyte shipments. Polymarket traders assign a 95% probability that Q4 hard drive exabytes exceed 190, but only 51.5% above 210. Confidence in the 210 threshold dropped 24 percentage points in four days. Margin trajectory. Incremental gross margin has held above 70%, well ahead of the prior 50% framework. Investors will focus on whether pricing gains and HAMR mix keep that pace. Capital returns. Seagate retired $641 million in debt last quarter with roughly $400 million in convertible notes remaining. Management flagged that the majority will probably go to share buybacks once debt reduction winds down. Earnings History Quarter EPS Surprise Day-Of Move 1-Week Move 30-Day Move Q3 FY2026 +16.94% +11.1% +22.25% +43.21% Q2 FY2026 +9.58% +19.14% -5.49% -14.32% Q1 FY2026 +8.75% +19.11% +3.82% +1.69% Q4 FY2025 +6.01% +6.51% -5.67% +8.59% On average, shares moved 3.73% in the week after earnings over the past year.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Seagate Technology didn't make the cut. Grab the names FREE today.

Contact [email protected] for any questions or corrections.

Posted by Defense World Staff on Jul 26th, 2026

Seagate Technology (NASDAQ:STX – Get Free Report) is expected to be releasing its Q4 2026 results after the market closes on Tuesday, July 28th. Analysts expect Seagate Technology to announce earnings of $5.10 per share and revenue of $3.4898 billion for the quarter. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Parties may review the information on the company’s upcoming Q4 2026 earning report for the latest details on the call scheduled for Tuesday, July 28, 2026 at 5:00 PM ET.

Seagate Technology (NASDAQ:STX – Get Free Report) last announced its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.59. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The company’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.90 EPS. On average, analysts expect Seagate Technology to post $14 EPS for the current fiscal year and $27 EPS for the next fiscal year.

Seagate Technology Price Performance NASDAQ STX opened at $851.69 on Friday. The stock has a market capitalization of $190.97 billion, a price-to-earnings ratio of 80.81 and a beta of 2.04. Seagate Technology has a 1-year low of $138.30 and a 1-year high of $1,145.00. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The business’s fifty day moving average price is $893.15 and its 200-day moving average price is $610.20.

Seagate Technology Dividend Announcement The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Wednesday, June 24th. Seagate Technology’s dividend payout ratio is 28.08%.

Insider Transactions at Seagate Technology In other Seagate Technology news, EVP John Christopher Morris sold 5,626 shares of Seagate Technology stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $738.37, for a total value of $4,154,069.62. Following the sale, the executive vice president owned 11,954 shares of the company’s stock, valued at $8,826,474.98. The trade was a 32.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $817.28, for a total value of $6,540,691.84. Following the sale, the executive vice president directly owned 3,691 shares in the company, valued at $3,016,580.48. This trade represents a 68.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 151,069 shares of company stock worth $126,191,753. 0.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Seagate Technology Hedge funds have recently bought and sold shares of the business. Sivia Capital Partners LLC bought a new stake in Seagate Technology during the second quarter worth approximately $262,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Seagate Technology in the 3rd quarter valued at approximately $200,000. Quattro Advisors LLC purchased a new position in shares of Seagate Technology in the 4th quarter worth approximately $104,000. Gen Wealth Partners Inc boosted its holdings in shares of Seagate Technology by 256.0% in the 4th quarter. Gen Wealth Partners Inc now owns 356 shares of the data storage provider’s stock worth $98,000 after purchasing an additional 256 shares during the period. Finally, MUFG Securities EMEA plc bought a new position in shares of Seagate Technology during the 2nd quarter valued at approximately $90,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analysts Set New Price Targets Several equities analysts have recently weighed in on the stock. Wedbush increased their price objective on shares of Seagate Technology from $700.00 to $825.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Wells Fargo & Company upgraded Seagate Technology from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $900.00 to $1,100.00 in a research report on Friday, July 10th. Evercore boosted their target price on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. The Goldman Sachs Group upped their target price on shares of Seagate Technology from $385.00 to $700.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Zacks Research cut shares of Seagate Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Twenty-two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and an average price target of $898.52.

Check Out Our Latest Research Report on Seagate Technology

Key Headlines Impacting Seagate Technology Here are the key news stories impacting Seagate Technology this week:

Positive Sentiment: Several previews say Seagate remains well positioned to beat fiscal Q4 expectations, citing AI-driven storage demand, rising HAMR adoption, and improving margins that could support another strong earnings report. Article title: STX Likely to Beat Q4 Earnings: Is it a Portfolio Must-Have Now? Positive Sentiment: Another earnings preview argues Seagate’s AI tailwinds are intact, with higher-density storage demand and operating leverage supporting profitability, though valuation has become less compelling. Article title: Seagate Earnings Preview: AI Tailwinds Remain, But Fading Sentiment Caps The Premium Positive Sentiment: Commentary from the last two days says Seagate could rebound after being off from recent highs if earnings confirm strong demand for high-capacity storage. Article title: Seagate Stock Is Off 20% From Its High. Why July 28 Earnings Could Trigger a Rebound. Neutral Sentiment: Short-interest data showed no meaningful change in borrowed shares, so it does not appear to be a major driver of trading today. Neutral Sentiment: One market note highlighted rising losses across mega-cap AI names like Tesla, Alphabet, Meta, Amazon, and Microsoft, reinforcing the broader risk-off tone in AI-related stocks. Article title: Why Tesla, Google, and other Mag 7 stocks are losing billions in valuation Negative Sentiment: A trading-focused report says Seagate is falling on broad semiconductor weakness and concerns that AI spending may be shifting, which is likely weighing on the shares despite upbeat earnings expectations. Article title: Why Is Seagate Stock Falling on Friday? About Seagate Technology (Get Free Report)

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.

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Andra AP fonden acquired a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 32,687 shares of the data storage provider’s stock, valued at approximately $12,805,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in STX. State Street Corp raised its position in shares of Seagate Technology by 1.0% during the 4th quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock worth $2,587,535,000 after buying an additional 94,527 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Seagate Technology by 5.1% in the fourth quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock valued at $1,464,391,000 after acquiring an additional 258,151 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Seagate Technology by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock valued at $1,343,683,000 after acquiring an additional 234,436 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Seagate Technology by 8.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider’s stock valued at $879,338,000 after acquiring an additional 243,551 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Seagate Technology by 1,510.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock valued at $553,125,000 after acquiring an additional 1,883,769 shares during the period. 92.87% of the stock is owned by institutional investors.

Seagate Technology Stock Performance Shares of STX opened at $891.83 on Wednesday. Seagate Technology Holdings PLC has a one year low of $138.30 and a one year high of $1,145.00. The company has a 50-day moving average of $888.04 and a two-hundred day moving average of $599.64. The stock has a market cap of $199.98 billion, a price-to-earnings ratio of 84.61 and a beta of 2.04. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85.

Seagate Technology (NASDAQ:STX – Get Free Report) last announced its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.59. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The company’s revenue was up 44.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities research analysts expect that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current year.

Seagate Technology Dividend Announcement The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Wednesday, June 24th. Seagate Technology’s dividend payout ratio (DPR) is currently 28.08%.

Insider Transactions at Seagate Technology In other news, EVP John Christopher Morris sold 1,364 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $1,200,579.16. Following the completion of the sale, the executive vice president directly owned 12,088 shares of the company’s stock, valued at $10,639,736.72. This trade represents a 10.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 903 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $794,811.57. Following the completion of the sale, the chief financial officer owned 42,860 shares of the company’s stock, valued at $37,724,943.40. This represents a 2.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 151,069 shares of company stock valued at $126,191,753 in the last three months. 0.79% of the stock is currently owned by insiders.

Key Seagate Technology News Here are the key news stories impacting Seagate Technology this week:

Positive Sentiment: Analysts say Seagate has the right mix of factors for a likely earnings beat in its next report, with expectations for earnings growth ahead of results. Seagate (STX) Earnings Expected to Grow: Should You Buy? Positive Sentiment: Seagate was included in a Zacks analyst roundup alongside names tied to strong results, AI demand, and improving growth outlooks, reinforcing bullish sentiment. The Zacks Analyst Blog Highlights Johnson & Johnson, Lam Research, Seagate, KVH Industries and Dawson Geophysical Positive Sentiment: Broker commentary and market coverage continue to cite Seagate as a beneficiary of AI infrastructure and memory-related demand trends, which has supported the stock’s recent strength. Banking giant names 7 stocks to buy after memory equities sell-off Neutral Sentiment: Jim Cramer suggested trimming Seagate after its strong comeback ahead of July 28 earnings, which may reflect caution about short-term gains despite the constructive longer-term backdrop. Jim Cramer suggests trimming Seagate position after strong comeback ahead of July 28 earnings Analyst Ratings Changes A number of equities research analysts have weighed in on the company. Wedbush upped their target price on Seagate Technology from $700.00 to $825.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. JPMorgan Chase & Co. lifted their price target on Seagate Technology from $775.00 to $920.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Barclays boosted their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Cantor Fitzgerald raised their target price on Seagate Technology from $1,000.00 to $1,300.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Finally, Susquehanna lifted their target price on Seagate Technology from $615.00 to $775.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $898.52.

Get Our Latest Research Report on STX

Seagate Technology Company Profile (Free Report)

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.

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Key Takeaways Seagate is benefiting from AI-driven storage demand, supporting higher revenue growth and margin expansion.STX is advancing HAMR with Mozaic drives, targeting higher-capacity enterprise HDDs through 2027.STX is boosting shareholder returns with debt reduction, dividends, buybacks and strong cash flow. The AI boom has reshaped the technology landscape, creating massive demand not only for GPUs and cloud infrastructure but also for data storage solutions. As enterprises generate and retain unprecedented amounts of AI training and inference data, storage has become a critical piece of the AI value chain.

Among the biggest beneficiaries of this trend has been Seagate Technology Holdings plc (STX - Free Report) , surging an impressive 505.6% over the past year. It has outpaced the Zacks Computer-Integrated Systems industry, the Zacks Computer & Technology sector and the S&P 500’s run of 218.8%, 34.4%, and 23.1%, respectively, in the same period.

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STX’s shares have exceeded its industry peers like International Business Machines Corporation (IBM - Free Report) , but lagged HDD behemoth and its direct competitor Western Digital Corporation (WDC - Free Report) and storage rival Micron Technology (MU - Free Report) . WDC, MU and IBM have gained 751.4%, 676.2% and 4.1%, respectively, during the same time frame.

STX remains one of the world's leading manufacturers of enterprise HDDs and has been aggressively developing next-generation high-capacity drives specifically designed for AI data centers. The company boasts a 52-week high of $1,145. Nonetheless, such an extraordinary rally naturally raises an important question for investors: Can Seagate continue climbing, or has the market already priced in most of the opportunity?

Accelerating AI Infrastructure Spending Fuels STX’s ExpansionAI is driving an explosion in data storage. As hyperscale cloud providers continue expanding AI infrastructure, they increasingly rely on a combination of SSDs for active workloads and HDDs for large-scale data storage. This industry trend plays directly into Seagate's strengths. Major cloud providers, including Microsoft, Amazon, Alphabet and Meta Platforms, continue investing tens of billions of dollars in AI infrastructure. As they expand AI data centers, demand for enterprise storage is rising, creating a strong long-term growth opportunity for Seagate.

Management highlighted that the company is entering a “new era of structural growth” driven by strong AI-led demand, rising adoption of Mozaic products and disciplined execution focused on expanding margins, cash flow and long-term value. While SSDs dominate high-speed applications, HDDs remain significantly more cost-effective for bulk storage—especially critical in hyperscale data centers supporting AI infrastructure. Seagate is well-positioned to capture this expanding opportunity through a technology strategy focused on increasing areal density rather than unit volumes, enabling a more capital- and manufacturing-efficient path to scale while improving cost and power efficiency per terabyte. This supports its target of mid-20% exabyte growth.

HAMR Technology Gives STX a Competitive EdgeInvestment in HAMR technology is STX’s key competitive advantage. Seagate’s focus on areal density and HAMR technology supports capacity growth and cost efficiency, with new product generations planned. Mozaic 4, second-generation HAMR, delivers up to 44TB per drive, 30% more capacity than the first generation. Mozaic 4 shipments began in late March and are expected to command 70% of HAMR shipments by the end of fiscal 2027. Mozaic 5 is in development, targeting 50TB capacity, with qualification shipments in late 2027. HAMR exabyte crossover is expected by the end of 2026. The focus is on increasing capacity per unit rather than unit volume, leveraging technology to improve aerial density.

Second-generation HAMR enables continued growth, with third-generation drives with 50TB capacity expected by the end of next year. Technology innovations include laser, photonic circuitry and media improvements, with minimal impact on the bill of materials. Seagate's strategy is built on durable storage demand, technology leadership and disciplined execution. Rising AI-driven data creation is boosting demand for cost- and energy-efficient, high-capacity HDDs, while its Mozaic platform and HAMR technology strengthen its competitive position. Backed by build-to-order contracts, pricing discipline and long-term supply agreements, Seagate is improving margin visibility and profitability.

Strong hyperscaler investment and sustained nearline storage demand have prompted the company to raise its annual revenue growth outlook to at least 20%, with capacity largely committed through 2027. Seagate's disciplined pricing strategy, supported by build-to-order contracts, provides greater revenue visibility and margin stability. Strong year-over-year and sequential price increases reflect robust demand, while most pricing for fiscal 2027 is already locked in with a significant portion of capacity allocated over the next four quarters. This approach is expected to support sequential revenue and profit growth throughout fiscal 2027, with management anticipating stable pricing trends rather than further acceleration.

Seagate's margins continue to outperform expectations, driven by strong demand, a favorable product mix and technology-led cost efficiencies. Incremental gross margins have exceeded the company's 50% target, supported by higher-capacity drives, improved yields and greater production efficiency. Management expects further margin expansion as Mozaic 5 and other technology advancements enhance cost and performance.

Strong Cash Returns Enhance the Investment CaseConsistent free cash flow generation strengthens Seagate's balance sheet and provides flexibility for future investments. Seagate also rewards shareholders through dividends. The company has maintained an attractive dividend policy while continuing to invest in product innovation. For income-focused investors, this provides an additional layer of return beyond potential share-price appreciation.

Seagate is using its strong cash flow to reduce debt while returning capital to shareholders through dividends and share repurchases. After retiring $641 million in debt last quarter, the company plans to reduce its remaining convertible notes further, expand buybacks and continue investing in growth, reinforcing its commitment to long-term shareholder value. It will maintain capital discipline while continuing the transition and ramp-up of HAMR technology, with fiscal 2026 capital spending expected to remain within its target range of 4–6% of revenue.

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However, investors should remain aware of several risks. The HDD industry remains cyclical, making shipments vulnerable to customer inventory corrections, slower enterprise spending and weaker PC demand. Declining SSD prices could also intensify competition, although HDDs continue to offer a significant cost advantage for exabyte-scale storage. Additionally, Seagate's reliance on large hyperscale cloud customers means changes in their purchasing schedules can lead to quarter-to-quarter revenue volatility.

Positive Estimate Revision Trend for STXSTX is currently witnessing an uptrend in estimate revisions. Earnings estimates for fiscal 2026 have inched up 0.3% to $14.93 over the past 60 days, while the same for fiscal 2027 has gone up 6.5% to $28.05.

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Valuation VulnerabilitiesGoing by the price/earnings ratio, the company’s shares currently trade at 30.54 forward earnings compared with 13.5 for the industry.

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In comparison, the forward 12-month price/earnings multiple for IBM, MU and WDC are 23.35X, 6.73X and 29.54X, respectively.

Is More Upside Ahead for STX Stock?Seagate's growth outlook is driven by several long-term catalysts, including sustained AI infrastructure spending, broader adoption of HAMR technology, increasing enterprise data storage needs and continued expansion of cloud data centers. Improving storage pricing, robust free cash flow and ongoing margin expansion could further boost earnings. Successful execution of its technology roadmap would strengthen Seagate's leadership in enterprise storage and support additional upside over the long term.

For investors who believe AI-driven data creation will continue accelerating over the next decade, Seagate remains an attractive way to gain exposure to one of the essential segments of the AI supply chain. While short-term pullbacks are always possible after such a strong run, the company's technological prowess, improving profitability and exposure to one of the fastest-growing technology trends suggest there could still be further upside over the long term.

Boasting a Zacks Rank #1 (Strong Buy) currently, STX is a portfolio must-have. You can see the complete list of today’s Zacks #1 Rank stocks here.

Key Takeaways MU expects fiscal Q3 2026 revenues of $33.5B and gross margin near 81%.Seagate posted fiscal Q3 2026 revenues of $3.11B, up 44% year over year. STX expects fiscal Q4 2026 revenues of about $3.45B and EPS near $5.00. For quite some time, Micron Technology (MU - Free Report) and Seagate Technology Holdings plc (STX - Free Report) have been benefiting from the artificial intelligence (AI) boom, as rising data needs fuel demand for memory and storage solutions.  

Both stocks have delivered exceptional returns of more than 600% over the past year. Let us thus see in detail why they still have further upside potential, and what makes them a compelling buy –  

Micron Rides AI Wave With HBM Growth Micron is currently enjoying strong pricing power as its state-of-the-art high-bandwidth memory (“HBM”) chips are in high demand amid tight supply conditions. Demand for HBM chips has skyrocketed as hyperscalers continue to increase investments in AI infrastructure. These HBM chips can handle complex workloads efficiently while reducing power usage. 

Micron now expects revenues to improve to $33.5 billion in the fiscal third quarter of 2026 from $23.86 billion in the fiscal second quarter of 2026 due to the high demand for HBM chips, according to investors.micron.com. The company’s expectations of a solid gross margin of about 81% for the fiscal third quarter of 2026 also reflect strong financial momentum and long-term growth outlook.  

Supply constraints for Micron’s highly sought-after NAND flash chips are expected to continue through mid-next year, which could further strengthen margins. As a result, the company’s expected earnings growth rate for the current year is 626.5%. The Zacks Consensus Estimate of $60.23 for MU’s earnings per share (EPS) is up 392.9% year over year (read more: Micron vs. NVIDIA: One AI Stock Is a Clear Buy Right Now).

 

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Seagate’s Nearline Business Fuels Growth Seagate reported revenues of $3.11 billion in the fiscal third quarter of 2026, up 44% year over year, according to investors.seagate.com. Such revenue growth is exceptional for a hardware company, indicating strong demand for Seagate’s high-capacity storage products. Seagate’s nearline storage business, known for providing high-capacity data center drives, is the company’s key growth engine. 

But revenue growth is not a one-time event. It is expected to continue in the next quarter as well. For the fiscal fourth quarter of 2026, Seagate expects revenues of $3.45 billion, plus or minus $100 million. Similarly, the company expects non-GAAP diluted EPS of $5, plus or minus $0.2, in the fiscal fourth quarter of 2026, up from $4.1 in the fiscal third quarter of 2026. The company’s solid non-GAAP gross margin of 47% in the fiscal third quarter of 2026 indicates that profitability is improving, the company is operationally efficient, and has pricing power. 

Seagate’s free cash flow of $953 million in the fiscal third quarter of 2026 also indicates that the company now has sufficient funds to support future investments. As a result, the company’s expected earnings growth rate for the current year is 84.3%. The Zacks Consensus Estimate of $14.93 for STX’s EPS is up 51% year over year.

 

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Both Micron and Seagate currently have a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Stanley Druckenmiller’s Duquesne Family Office disclosed positions in three AI-infrastructure semiconductor names, Broadcom (NASDAQ: AVGO | AVGO Price Prediction), Micron Technology (NASDAQ: MU), and  Seagate Technology (NASDAQ: STX) in its 13F for the quarter ended March 31, 2026, filed May 15, 2026. Per the disclosure, Broadcom is the largest position of the three, Seagate is next, and Micron is the smallest. These are sized as thematic exposure rather than core, high-conviction positions.

The unifying thesis is straightforward: every layer of the AI build-out, custom silicon, memory, and high-capacity storage, has been compounding revenue and margins faster than the broader tech tape.

Broadcom: The Custom-Silicon Flywheel Broadcom posted Q2 FY2026 revenue of $22.19 billion, up 47.9% year over year, with AI semiconductor revenue of $10.80 billion, up 143%. CEO Hock Tan guided “semiconductor revenue from AI to grow over 200 percent year-over-year to $16.0 billion” in Q3.

Shares closed most recently at $380.15, against a Wall Street consensus target of $523.84. The bull case is based on hyperscaler ASIC wins plus the VMware annuity. For the bear case, a forward P/E of 36x already prices in the 200% AI growth figure, and the stock is down 8.2% over the past month.

Seagate: AI Storage With a Margin Story Seagate’s Q3 FY2026 revenue rose 44.1% to $3.11 billion, with non-GAAP EPS of $4.10 and gross margin expanding to 47.0% from 36.2%. CEO Dave Mosley framed it as “a new era of structural growth as AI applications amplify data creation,” with HAMR-based Mozaic drives now qualified at some of the world’s largest cloud customers.

The bull case here hinges on build-to-order visibility through mid-2026 and a nine-quarter margin streak. On the other hand, shares are up 277.1% year to date to $1,038.59, trading above the analyst target of $898.09, with a forward P/E of 44x.

Micron: The Data Point That Splits the Room Micron’s Q2 FY2026 revenue jumped 196.3% to $23.86 billion, with non-GAAP EPS of $12.20 and GAAP gross margin of 74.4%. Management guided Q3 revenue to $33.50 billion at roughly 81% gross margin and raised the dividend 30%.

The valuation debate is sharp here: shares closed at $1,051.77 after a 13.2% single-day decline, while the consensus target of $945.60 implies modest downside, though analyst ratings skew heavily positive. The forward P/E of 11 is the cheapest of the three, but memory remains cyclical.

The Verdict For a retirement-focused investor, the takeaway is that Druckenmiller’s filing validates the AI-infrastructure thesis at the thematic level, while entry price remains a separate question. Broadcom looks like the most defensible secular compounder, given the software annuity behind the silicon. Seagate offers the cleanest margin story but the thinnest valuation cushion after a 690% one-year run. Micron’s earnings power is enormous, yet the gap between fundamentals and analyst targets warrants patience.

Following smart money on the thesis is reasonable; entry price still requires its own discipline. Sizing these as thematic exposure, as Duquesne did, is the more faithful replication of the trade.