UBS cuts Seagate stock price target on multiple concerns to $750

Seagate Technology reported strong demand for its hard drives, with CEO Dave Mosley stating that all additional production is already allocated. CFO Gianluca Romano noted a growing supply-demand gap. Revenue was $4.23B, up 61% YoY, with non-GAAP gross margin at 57.8%. The stock rose 3.67% during the day but fell 5.52% after hours. Supply contracts extend through 2030, and pricing power is lifting margins. The company expects revenue of $4.8B and non-GAAP EPS of $9.20 for the December quarter.

Seagate Technology (STX) shares fell 27.16% in a month, despite reporting strong Q1 2027 earnings. Analysts remain bullish, with an average price target of $1,091.58, implying 63.4% upside. The company's revenue grew 61.0% YoY, driven by AI storage demand. However, investor concerns about AI infrastructure spending have led to a sell-off. Seagate's management guided Q2 revenue of $4.80B and EPS of $9.20, above consensus estimates.

Evercore ISI maintained an Outperform rating and $1,000 price target for Seagate (STX) after its Q1 results beat estimates. Revenue was $4.23B, EPS $7.68, with pricing up 30% YoY. Guidance for Q2 is $4.8B revenue and $9.20 EPS, above consensus. STX shares rose 201% in the past year, trading at $667.85. Gross margins expanded to 57.8%. Baird raised its price target to $1,350, citing strong storage growth outlook.

Baird raised its price target for Seagate (STX) to $1,350 from $1,080, citing strong storage growth outlook. The stock has surged 201% over the past year, trading at $667.85. Baird projects over 25% exabyte growth for fiscal 2027 and notes continued gross margin gains. Seagate reported Q1 earnings of $7.68 per share on $4.2B revenue, beating estimates, but stock declined in after-hours trading.

Seagate (STX) shares dropped 6% after reporting record Q1 2027 results: revenue up 61% to $4.23B, EPS $7.68, and $1.5B in free cash flow. The company guided to $4.8B revenue and $9.20 EPS for Q2, exceeding expectations. Gross and operating margins improved significantly. Seagate reduced debt and raised its dividend. Analysts expect strong earnings growth, but the stock trades below its 5-year average multiple.

Seagate (STX) reported Q1 revenue of $4.23B, up 61% YoY, with GAAP EPS of $7.59 and non-GAAP EPS of $7.68. The company raised its dividend to $0.76 and guided Q2 revenue to ~$4.8B. Seagate highlighted HAMR technology for increased data density and cloud storage demand. Analysts noted potential margin improvements and supply constraints. CEO Dave Mosley expects multi-year growth due to rising storage demand. Rosenblatt reaffirmed a Buy rating with a $1,100 target.