S&P 500 slips, but losses kept in check as Nvidia climbs ahead of results
Seagate Technology PLC stock has reached an all-time high, hitting 147.75 USD, with a market capitalization now exceeding $31 billion. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, with technical indicators suggesting overbought conditions. This milestone reflects a significant upward trajectory for the company, which has seen a substantial 1-year change of 45.6%. The achievement underscores investor confidence and the company’s robust performance in the data storage industry, supported by impressive revenue growth of 36.3% and a healthy P/E ratio of 20.5. The company maintains a steady 2% dividend yield, having consistently paid dividends for 15 consecutive years. As Seagate continues to innovate and expand its market presence, this all-time high marks a notable point in its financial history, attracting attention from analysts and investors alike. For deeper insights into Seagate’s valuation and growth prospects, investors can access 12 additional exclusive ProTips and comprehensive analysis through InvestingPro’s detailed research reports.
In other recent news, Seagate Technology has been the focus of several notable analyst updates. BofA Securities raised its price target for Seagate to $135, maintaining a Buy rating, following a meeting with the company’s CFO. The firm expressed confidence in Seagate’s roadmap for areal density and its ability to manage supply and demand cycles. Morgan Stanley (NYSE:MS) also increased its price target significantly to $140, citing Seagate’s technological leadership and the expected rise in storage demand driven by new computing growth. Mizuho (NYSE:MFG) Securities echoed this sentiment by lifting its price target to $130, emphasizing Seagate’s advancements in Heat-Assisted Magnetic Recording (HAMR) technology and potential lead over competitors.
Cantor Fitzgerald maintained a Neutral rating with a $125 price target, noting some investor confusion over Seagate’s revenue growth projections. Despite this, the company clarified its financial targets, suggesting a robust earnings per share (EPS) growth by fiscal year 2028. Analysts from different firms are optimistic about Seagate’s strategic positioning, particularly with the anticipated release of 40TB hard disk drives and the growth in data center demand. These recent developments highlight Seagate’s potential for revenue and margin recovery, driven by its innovation in data storage technology.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.