Seagate Technology Holdings PLC (STX) Stock Price & How to Invest

Seagate Technology is one of the two major hard disk drive (HDD) manufacturers in the world, alongside Western Digital. Most Seagate revenue comes from high-capacity nearline HDDs sold to hyperscale cloud providers (Microsoft Azure, Amazon AWS, Google Cloud, Meta, Oracle) for cold and warm storage. The company has been transitioning its HDD product portfolio to higher capacities using HAMR (heat-assisted magnetic recording) technology under the Mozaic platform, with drives now reaching 44TB in the Mozaic 4 generation.

Seagate also has a smaller solid-state storage business and a Lyve enterprise storage services business. Founded in 1979, headquartered in Dublin, Ireland (legally domiciled there for tax reasons) with operations primarily in California. Dave Mosley has been CEO since 2017.

The numbers have moved sharply since early 2026. For the fiscal year that ended July 3, 2026, revenue was about $12.2 billion (up from about $9.1 billion) and net income about $3.18 billion (up from about $1.47 billion). The June quarter brought revenue of about $3.63 billion, up about 48% year over year, and EPS of $5.71 against a $5.09 estimate, the fourth straight beat. Operating margin on a trailing basis reached about 43%. The share price followed, peaking near $1,145 before dropping to about $653 by October 16, 2026, as a broad pullback in AI-related hardware stocks hit storage names and Wells Fargo cut its target to $865 from $1,180.

SSD price declines could eventually erode HDD's per-terabyte cost advantage. HDD demand outside of nearline (PCs, consumer NAS) continues to decline secularly. HAMR yield ramps must execute cleanly. The bigger near-term risk is that Seagate's revenue is tied to hyperscaler AI capital spending, and any sign that spending is slowing hits the stock hard: STX fell about 24% in the month to October 16, 2026 during a tech and AI sell-off, its third straight weekly loss alongside Western Digital. Expectations are high, with analysts looking for about $36 of EPS in fiscal 2027 versus about $13.90 trailing, so a guidance miss on October 27 would land on a stock still priced for strong growth. The balance sheet carries about $3.9 billion of debt against about $1.7 billion of cash, and a very high price-to-book ratio leaves little asset cushion.

24 analysts publish price targets on STX, averaging $1138.33 against a $639.01 price as of October 2026, or +78.1%. The published targets run from $700.00 to $1600.00, a wide spread, and the ratings split 23 buy, 3 hold, 0 sell. Over the last six months there have been 10 raises and 1 cut among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full STX forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Seagate Technology Holdings PLC. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. AI-driven nearline storage demand. AI training and inference generate massive amounts of data that must be stored cheaply at scale. The most optimistic published target, $1600.00, assumes this works close to its best case.

The case against. SSD price declines could eventually erode HDD's per-terabyte cost advantage. The most pessimistic target, $700.00, is roughly what STX is worth if this bites instead.

Read the full bull and bear case on STX, including what would have to change to break either one. Walnut is not an investment adviser.

No. Seagate Technology Holdings PLC (STX) has not split its stock in the last 10 years. That is a statement about the window we check rather than about the company’s entire history, so an older split is possible. It also matters less than it once did: fractional shares mean a high price per share no longer keeps smaller investors out, which removed most of the practical reason to split.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Seagate Technology Holdings PLC's investor relations page or your broker.

• Revenue (FY2026, TTM): ~$12.2 billion (June quarter up ~48% YoY)
• Margins (TTM): ~46% gross, ~43% operating
• Net income (TTM): ~$3.2 billion
• Latest quarter EPS: $5.71 vs $5.09 est.
• P/E: ~47x trailing, ~11.5x forward (FY2028 est.)
• Market cap: ~$148 billion
• Dividend yield: ~0.4% ($2.96 annualized)
• Free cash flow (TTM): ~$1.9 billion

As of October 16, 2026 Seagate traded near $653, about 47x trailing earnings but far lower on forward estimates (analysts expect about $36 of EPS in fiscal 2027 and about $57 in fiscal 2028), so the valuation depends almost entirely on whether the earnings ramp arrives as forecast. The mean analyst target of about $1,138 across 24 analysts sits well above the price, while recent target cuts show sentiment turning. Fiscal Q1 2027 results on October 27 carry a consensus of about $7.38 EPS on about $4.13 billion of revenue.

If you want STX exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.

Other names that sit close to STX: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get STX exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (VO, VOT, DRAM), which spreads the position across many companies. Or build it into a focused thematic portfolio, so STX sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where STX fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Seagate (STX) is a cyclical AI-infrastructure storage name levered to hyperscale nearline HDD demand, the HAMR transition, and pricing discipline shared with Western Digital. Fiscal 2026 revenue jumped about 34% to roughly $12.2 billion and net income more than doubled to about $3.2 billion, yet the stock fell about 24% in the month to October 16, 2026, a reminder that it trades as a higher-beta hardware position whose price swings with sentiment on AI spending, not a low-volatility anchor. Fiscal Q1 2027 results are due October 27, 2026.

Whether STX is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is STX a buy or a sell?, and where the stock could go from here in the STX stock forecast.

For income investors, whether STX pays a dividend and how the payout looks is covered in does STX pay a dividend? And to weigh STX against a peer, read the full side-by-side comparisons: STX vs WDC and STX vs MU.