Seagate Just Dropped 30% in a Month. Is It Time to Sell, or Load Up?

UBS reduced its price target on Seagate Technology (STX) to $154 from $157, citing slower adoption of a $1 billion conversion opportunity. The firm now expects this to occur by the end of 2028, not within the year. Seagate's stock is down 11% over six months but up 153% over a year. UBS lowered its 2027 and 2028 EBITDA estimates but anticipates growth to catch up in 2029. The firm sees 40% of the opportunity priced into the stock.

Seagate Technology (STX) reported fiscal Q1 2027 revenue of $4.23B, up 61% YoY, with a 40.5% operating margin, the highest in years. Management attributed this to better pricing and product mix, particularly Mozaic 4 products. Data center customers accounted for 81% of revenue. The company plans to increase shareholder returns through dividends and buybacks.

Seagate (STX) reported its 1QFY27 results, leading to an 8% drop in share price. The market reacted negatively, despite the company's perceived resilience.

Seagate Technology (STX) fell 8.4% to $641.81 on October 30, 2026, following a broader tech sector decline. The drop occurred despite a record quarter and higher guidance. The stock's beta of 2.06 amplified its decline. Analysts cut price targets but maintain a 'Moderate Buy' consensus. Seagate's market cap is $146.57 billion, with a P/E ratio of 33.85.

Seagate Technology (STX) fell 8% on October 30, 2026, to $641.81, amid a broader tech sector sell-off. The decline followed record earnings and guidance, but was driven by market-wide AI spending concerns. Seagate's market cap is $146.57 billion, with heavy trading volume suggesting institutional selling. Peer storage companies also declined.

Seagate reported Q3 revenue of $4.23B, beating estimates, with strong data center demand and Mozaic platform growth. Q4 guidance exceeds expectations. Operating margins improved to 48.8%. The company secured long-term supply deals and plans increased shareholder returns.