Bank of America has raised its price target for Seagate Technology to $1,200 from $1,150, citing stronger-than-expected demand for hard disk drives (HDDs). The bank forecasts first-quarter fiscal 2027 revenue at the high end of Seagate's guidance, with earnings per share exceeding expectations. They expect continued pricing strength and growth in data center HDD demand, supported by new HAMR technology improving margins. The bank also raised its fiscal 2027 revenue and earnings forecasts, anticipating sustained profitability and favorable pricing into 2028.
Seagate Technology holds a market cap of $153.52 billion and a dividend yield of 0.44% on Pluang as of Oct 22, 2026 02:21 WIB. The stock price is currently $701.00, showing a 3.83% increase in one day, with strong buying interest reflected in an 89% buy order activity. This robust demand aligns with the article's note on rising HDD demand and positive earnings outlook.
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