Aditya Sarawgi
2 min read
In This Article:
Singapore-based Seagate Technology Holdings plc (STX) engages in the provision of data storage technology and infrastructure solutions in Singapore, the U.S., and internationally. With a market cap of $27.8 billion, Seagate operates as one of the largest manufacturers of hard disk drives (HDDs) in the world.
Companies with a market cap of $10 billion or more are categorized as "large-cap stocks." Seagate fits this description perfectly, with its market cap exceeding this threshold, reflecting its substantial size and influence in the SSD and HDD storage market.
-
Is Palantir Stock Poised to Surge Amidst the Israel-Iran Conflict?
-
CoreWeave Stock Is Too ‘Expensive’ According to Analysts. Should You Sell CRWV Now?
-
‘It Has No Utility’: Warren Buffett Doesn’t Care How High Gold Goes, He Isn’t a Buyer
Seagate touched its all-time high of $133.76 in yesterday’s trading session before slightly pulling back. STX stock has soared 48.1% over the past three months, significantly outpacing the Technology Select Sector SPDR Fund’s (XLK) 13.9% gains during the same time frame.
STX has outpaced the tech sector over the longer term as well. STX stock has surged 52.1% on a YTD basis and 23.9% over the past 52 weeks, outperforming XLK’s 3.9% uptick in 2025 and 4.4% gains over the past year.
Seagate’s stock has shot up above its 50-day moving average in late April and above its 200-day moving average in May, underscoring its bullish upturn.
Seagate Technology’s stock prices rallied 11.6% in the trading session after the release of its impressive Q3 results on Apr. 29. During the quarter, demand for mass capacity storage remained elevated, leading to Seagate’s topline soaring 30.5% year-over-year to $2.2 billion, beating the Street’s expectations by 1.3%. Moreover, the company experienced a massive improvement in its margins. Seagate’s adjusted operating margin for the quarter jumped to 23.5%, significantly up from 11.1% reported in Q3 2024. This led to its adjusted operating income surging 177% year-over-year to $507 million. Meanwhile, its adjusted net income soared by an impressive 473.2% year-over-year to $407 million, and its adjusted EPS of $1.90 surpassed the consensus estimates by a notable margin.
Furthermore, as per the company’s projections’ midpoint, Seagate’s Q4 revenues are expected to come in at $2.4 billion and adjusted EPS to come in at $2.40, showcasing significant year-over-year and sequential growth. The company also remains confident in its ability to drive sustainable growth beyond 2025 on the back of solid industry fundamentals and its own positioning.
