Seagate Technology (NASDAQ:STX) Shares Climb 3.7% on Strong Earnings

27 Oct 2026, 21:30 by Kim Johansen · The Markets Daily

Shares of Seagate Technology Holdings PLC (NASDAQ:STX – Get Free Report) shot up 3.7% during mid-day trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $687.05 and last traded at $667.85. 8,107,242 shares traded hands during trading, an increase of 83% from the average session volume of 4,421,041 shares. The stock had previously closed at $644.21.

The data storage provider reported $7.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.45 by $0.23. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.

Trending Headlines about Seagate Technology

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

Positive Sentiment: Analysts expect Seagate’s quarterly revenue to increase roughly 58%, with potential upside to earnings guidance of $7.10–$7.50 per share. Strong HDD demand, higher pricing and growing adoption of the company’s Mozaic technology are supporting expectations for a beat. Seagate Technology Q1 preview: Analysts project earnings beat amid strong HDD demand
Positive Sentiment: Seagate announced that its HAMR and SMR high-capacity drives achieved expanded interoperability with Broadcom systems and were validated at Microsoft Azure. The milestone could accelerate deployment by hyperscale cloud providers and strengthen Seagate’s position in AI infrastructure. Seagate Simplifies High-Capacity Storage Scaling for AI and Cloud Infrastructure
Positive Sentiment: Bank of America and Morgan Stanley raised their price targets ahead of earnings, while Rosenblatt sees near-term profit upside as Seagate’s advanced drives scale. Industry commentary also points to tight memory and storage supply through 2028 because of AI demand. STX rises premarket ahead of Seagate’s Q1 report
Neutral Sentiment: The earnings release is the immediate event risk. With expectations already elevated, investors will focus on data-center demand, pricing, Mozaic production, contract visibility and management’s outlook for coming quarters. Seagate has reportedly secured demand through 2028, but the stock’s sharp prior pullback highlights continued volatility. Seagate stock rises ahead of earnings as AI storage demand grows
Negative Sentiment: Rosenblatt and Cantor Fitzgerald reduced their price targets, although both retain constructive views. Cantor still rates STX “overweight” with a $1,000 target, while the cuts reinforce concerns that the stock’s valuation and earnings expectations leave limited room for disappointment.
Negative Sentiment: EVP James Lee sold 547 shares worth approximately $351,000, reducing his direct holdings by 34.5%. The sale was disclosed in an SEC filing and may weigh modestly on sentiment, though it is small relative to Seagate’s market value. Seagate Technology EVP sells stock

Analysts Set New Price Targets

A number of research firms have weighed in on STX. Weiss Ratings upgraded shares of Seagate Technology from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 16th. Susquehanna raised their target price on Seagate Technology from $775.00 to $875.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Melius Research started coverage on Seagate Technology in a research note on Monday, June 29th. They set a “buy” rating and a $1,600.00 target price for the company. Argus lifted their price target on shares of Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Morgan Stanley boosted their price target on shares of Seagate Technology from $1,187.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Tuesday, October 20th. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $951.92.

Check Out Our Latest Stock Analysis on Seagate Technology

Insider Activity at Seagate Technology

In related news, CEO William Mosley sold 97,889 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $772.14, for a total transaction of $75,584,012.46. Following the transaction, the chief executive officer owned 378,108 shares of the company’s stock, valued at $291,952,311.12. This represents a 20.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Ban Teh sold 52,730 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total transaction of $41,239,078.40. Following the sale, the executive vice president owned 5,810 shares in the company, valued at $4,543,884.80. The trade was a 90.08% 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 three months, insiders have sold 467,506 shares of company stock worth $379,191,992. Insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

Several hedge funds have recently bought and sold shares of the company. Retirement Wealth Solutions LLC raised its stake in shares of Seagate Technology by 70.6% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock worth $28,000 after buying an additional 12 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in Seagate Technology in the second quarter valued at $39,000. One River Asset Management LLC lifted its holdings in shares of Seagate Technology by 50.0% during the 3rd quarter. One River Asset Management LLC now owns 45 shares of the data storage provider’s stock worth $42,000 after acquiring an additional 15 shares during the period. Trust Co. of Vermont purchased a new stake in shares of Seagate Technology during the 2nd quarter valued at $54,000. Finally, Triumph Capital Management lifted its stake in shares of Seagate Technology by 93.5% in the 2nd quarter. Triumph Capital Management now owns 60 shares of the data storage provider’s stock valued at $58,000 after purchasing an additional 29 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Stock Up 3.7%

The firm’s 50-day moving average price is $816.49 and its 200-day moving average price is $680.95. The company has a market cap of $151.86 billion, a price-to-earnings ratio of 48.12 and a beta of 2.06. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17.

Seagate Technology Company Profile

(Get Free Report)

Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.