Robert W. Baird analyst Tristan Gerra has maintained their bullish stance on STX stock, giving a Buy rating yesterday.
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Tristan Gerra has given his Buy rating due to a combination of factors including Seagate Tech’s ongoing gross margin expansion and strong demand for higher-capacity drives, particularly those driven by AI-related needs. The company is experiencing a favorable supply/demand dynamic, with no expected relief in the imbalance over the next year, which supports continued growth driven by the transition to HAMR-based drives.
Seagate’s recent financial performance has been robust, with F1Q26 revenue and non-GAAP EPS exceeding guidance and estimates. The company’s transition to Mozaic 4 is progressing well, indicating a positive outlook for future qualifications and preventing further lead time extensions. Additionally, the guidance for the next quarter suggests continued revenue and earnings growth, reinforcing the Buy rating.
In another report released yesterday, Mizuho Securities also reiterated a Buy rating on the stock with a $290.00 price target.
Based on the recent corporate insider activity of 119 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of STX in relation to earlier this year.