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Seagate Technology Holdings plc

https://www.seagate.com

Industry

Computer Hardware

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives. The company also offers legacy applications comprising Mission Critical HDDs and SSDs; external storage solutions under the Seagate Ultra Touch, One Touch, and Expansion product lines, as well as under the LaCie brand name; desktop drives; notebook drives, DVR HDDs, and gaming SSDs. In addition, it provides Lyve edge-to-cloud mass capacity platform. The company sells its products primarily to OEMs, distributors, and retailers. Seagate Technology Holdings plc was founded in 1978 and is based in Dublin, Ireland.

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Mizuho analyst Vijay Rakesh issued Buy ratings for Micron Technology (MU), Seagate Technology (STX), and Western Digital (WDC), with price targets of $100, $100, and $66 respectively, driven by a significant surge in NAND pricing and conservative Capex through 2024. The NAND price increase is expected to benefit AI handsets and servers, with Western Digital's new fabrication plants and transition to BiCS8 technology highlighting strategic growth. The semiconductor and storage industry is anticipated to see dynamic growth with strategic investments and product innovations.

Portfolio Pulse from Anusuya Lahiri

February 21, 2024 | 7:42 pm

Sony Group Corp (NYSE:SONY) and Seagate Technology Holdings Plc (NASDAQ:STX) are collaborating to double HDD capacity to 30TB to meet the increasing demands of data centers. Sony will invest $33 million in expanding facilities for mass production of advanced laser diodes starting May. This technology aims to address the growing data needs by enabling denser data packing, promising to double storage capacity while reducing space and electricity consumption by 40%. Sony reported a 22% year-on-year sales growth in Q3 FY23, with plans to list its financial arm in October 2025. However, Sony's stock was downgraded by Macquarie analyst Damian Thong from Outperform to Neutral.

Portfolio Pulse from Anusuya Lahiri

February 16, 2024 | 2:05 pm

Wall Street's most accurate analysts recommend holding three tech stocks with over 3% dividend yields: Hewlett Packard Enterprise (HPE), Texas Instruments (TXN), and Seagate Technology (STX). These recommendations are based on their high dividend yields and recent analyst upgrades, price target adjustments, and significant corporate developments.

Portfolio Pulse from Avi Kapoor

February 16, 2024 | 12:31 pm

Today's session revealed significant whale activity in the options market for 10 Information Technology stocks, indicating potential trading opportunities. Notable activities include bearish call options for NVDA and MSFT, bullish call options for SMCI, INTC, WOLF, MARA, and ENTG, a bearish call option for CSCO, a bearish put option for STX, and a bullish put option for AMD. These movements suggest varying investor sentiments and potential impacts on the respective stocks' short-term price movements.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 5:35 pm

Wells Fargo analyst Aaron Rakers has maintained an Equal-Weight rating on Seagate Technology Holdings (STX) and increased the price target from $80 to $90.