Seagate Technology stock hits all-time high, reaching 158.01 USD

Seagate Technology PLC stock has reached an all-time high, touching 158.01 USD, with InvestingPro data showing the company now commands a market capitalization of $33.5 billion. This milestone comes as the company experiences a significant 1-year change of 51.68%, with an even more impressive year-to-date return of 81.35%. The stock’s impressive ascent to this new peak underscores investor confidence and the company’s strong market positioning, supported by a "GREAT" Financial Health score from InvestingPro. Analysts maintain a positive outlook, with price targets reaching up to $200. As Seagate continues to innovate and expand its offerings, this all-time high serves as a testament to its resilience and growth potential in the competitive tech industry. The company has maintained dividend payments for 15 consecutive years, currently yielding 1.86%. For deeper insights into Seagate’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.

In other recent news, Seagate Technology reported strong earnings for its June quarter, with revenue reaching $2.44 billion and earnings per share at $2.59, both surpassing consensus estimates of $2.42 billion and $2.45, respectively. Despite these positive results, the company’s guidance for the current quarter did not meet analyst expectations, leading to a noticeable market reaction. In response to these developments, several analyst firms have adjusted their price targets for Seagate. Benchmark increased its price target to $165, highlighting robust global cloud demand and record shipments. TD Cowen raised its target to $175, citing momentum in Heat-Assisted Magnetic Recording (HAMR) and improved cloud visibility. Rosenblatt set a new target of $200, noting margin expansion and product mix improvements. Mizuho (NYSE:MFG) also adjusted its price target to $160, maintaining an Outperform rating, driven by strong cloud demand. These updates reflect the varied perspectives on Seagate’s future performance amid recent earnings and guidance announcements.

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