Mizuho Lifts Seagate (STX) to $475, Citing Continued Storage Upswing
We recently published an article titled 12 Best Data Storage Stocks to Buy Right Now.
On February 17, Mizuho increased its price target on Seagate Technology Holdings plc (NASDAQ:STX) to $475 from $440 and maintained an Outperform rating, reflecting continued confidence in earnings momentum and favorable industry conditions within mass-capacity storage.
Seagate Technology Holdings plc (NASDAQ:STX) reported December-quarter revenue of $2.83 billion, up 7% sequentially and 22% year over year. Non-GAAP gross margin expanded to 42.2%, up 210 basis points sequentially, while non-GAAP operating margin rose to 31.9%, an increase of 290 basis points quarter over quarter. Non-GAAP EPS reached $3.11, up 19% sequentially. The company achieved record levels in exabyte shipments, gross margin, operating margin, and non-GAAP EPS. March-quarter guidance calls for revenue of $2.9 billion plus or minus $100 million, implying approximately 34% year-over-year growth at the midpoint, and non-GAAP EPS of $3.40 plus or minus $0.20, with operating margin expected to approach the mid-30% range. Management anticipates continued sequential improvement in both revenue and profitability through calendar 2026, reinforcing confidence in sustained operating leverage and earnings expansion.
Seagate Technology Holdings plc (NASDAQ:STX), incorporated in 1978 and headquartered operationally in Fremont, California, is a global leader in data storage solutions, designing and manufacturing hard disk drives, solid-state drives, and storage systems for enterprise, cloud, and consumer applications.
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