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Seagate Technology stock has reached an all-time high, hitting $132.24 USD, with an impressive year-to-date return of 53%. This milestone underscores a significant upward trajectory for the data storage company, now valued at nearly $28 billion, reflecting investor confidence and market optimism. According to InvestingPro analysis, the stock’s RSI indicates overbought conditions. Over the past year, Seagate Technology has experienced a notable 24.29% increase in its stock value, supported by strong revenue growth of 36% and a healthy P/E ratio of 18.45. This growth can be attributed to the company’s robust performance in the technology sector and its strategic initiatives to expand its product offerings and market reach. The company maintains a steady 2.2% dividend yield, having consistently paid dividends for 15 consecutive years. As the company continues to innovate and adapt to the evolving demands of the digital landscape, its stock performance remains a focal point for investors and analysts alike. Discover 12 more exclusive insights about Seagate Technology with InvestingPro.
In other recent news, Seagate Technology has seen several analyst firms adjust their price targets and ratings following its recent Analyst Day event. Morgan Stanley (NYSE:MS) raised Seagate’s stock target to $140, citing expectations of significant growth in storage demand and Seagate’s technological leadership. The firm anticipates a revenue compound annual growth rate (CAGR) between 13-16% and an EPS of $19 by fiscal year 2028. BofA Securities also expressed optimism, raising the price target to $135 and maintaining a Buy rating, highlighting Seagate’s potential in data center expansion and HAMR technology. Mizuho (NYSE:MFG) Securities increased their target to $130, emphasizing Seagate’s advancements in disk technology and the projected mid-20% CAGR in data center Exabytes due to AI-driven demand.
Additionally, Cantor Fitzgerald maintained a Neutral rating with a $125 target, acknowledging Seagate’s clarified financial targets and potential EPS of $16.50 by fiscal year 2028. Meanwhile, BofA Securities previously lifted their target to $125, focusing on Seagate’s mid-term financial targets, including a low-to-mid teens revenue CAGR from fiscal year 2025 to 2028. These developments reflect a general positive sentiment among analysts regarding Seagate’s strategic positioning and growth prospects in the data storage market. Investors will be closely monitoring Seagate’s performance as it aims to meet these expectations and financial targets.
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