Analysts set a 12-month price target of $946 for STX, citing fully allocated nearline capacity through 2027 and HAMR platform growth.
Seagate Technology (NASDAQ:STX) received a $946 price target, reflecting a high-confidence buy rating driven by nearline capacity fully booked through 2027. The call highlights structural demand from cloud providers relying on Seagate’s Mozaic HAMR platform for AI data storage.
STX trades at $832.56 after a 980.57% five-year return and 431.49% one-year gain. FY2026 revenue grew 34.06% to $12.20 billion, with non-GAAP EPS at $15.58. The stock remains 27% below its $1,144.18 52-week high despite recent pullbacks.
Analysts note Western Digital (WDC) posts similar revenue but carries a lower market cap, while Micron (MU) operates in complementary memory markets rather than direct competition.