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Seagate Technology PLC reached a significant milestone as its stock hit an all-time high of 152.4 USD. This achievement highlights the company’s strong performance, with an impressive 72.14% year-to-date return and a market capitalization now reaching $32.17 billion. According to InvestingPro analysis, the stock is currently fairly valued, reflecting the company’s GOOD overall financial health score. The surge underscores investor confidence in Seagate’s growth prospects and operational strategies, as the technology firm continues to innovate and expand its market presence. The company’s commitment to shareholder value is evident in its 15-year streak of consecutive dividend payments, currently yielding 1.96%. The all-time high reflects the culmination of strategic initiatives and favorable market conditions that have driven the stock’s impressive upward trajectory. InvestingPro subscribers can access 8 additional key insights and a comprehensive Pro Research Report about Seagate’s market position and future prospects.
In other recent news, Seagate Technology has been the focus of several analyst reports and financial updates. Mizuho (NYSE:MFG) raised its price target for Seagate Technology to $155, maintaining an Outperform rating, while keeping its June quarter revenue and earnings estimates unchanged at $2.40 billion and $2.40 per share, respectively. Goldman Sachs initiated coverage on Seagate with a Buy rating and set a price target of $170, citing the company’s technological leadership in HAMR-based drives. BofA Securities also adjusted its price target for Seagate, first raising it to $125 and later to $135, maintaining a Buy rating both times. These adjustments followed meetings with Seagate’s CFO and discussions about the company’s medium and long-term goals.
Seagate’s Analyst Day revealed mid-term financial targets, including a low-to-mid teens revenue compound annual growth rate from fiscal year 2025 to fiscal year 2028. The company aims for gross margins of 40%, operating expenses around 10% of revenues, and capital expenditures between 4-6% of revenues. Additionally, Seagate plans to return over 75% of free cash flow to shareholders. Cantor Fitzgerald maintained a Neutral rating with a $125 target, noting some investor confusion over Seagate’s guidance for revenue growth. Seagate clarified its financial targets, projecting earnings per share to reach approximately $16.50 by fiscal year 2028.
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