Seagate Technology

Seagate Technologie shares rose about 5% in midday trading to $967.01, driven by record results for fiscal 2026: up 34% year‑over‑year revenue, record profitability and $3.1 billion in free cash flow. The Q1 2027 guidance was well above expectations and prompted multiple analyst upgrades with price targets well above the current stock (including Rosenblatt $1,400, Baird $1,080, Wells Fargo $1,180). Insider sales by the CFO and a CEO sale executed under a trading plan barely dented sentiment. Ongoing AI‑driven demand for high‑capacity HAMR drives and strong competitive metrics support the growth story despite the stock trading below its 52‑week high. » More on de.investing.com

Seagate Technology’s stock rose to a record high of $941.41, delivering a one‑year return of 683% and a market capitalization of $210.7 billion. The growth is attributed to strategic initiatives and innovations in the data storage sector; revenue increased 29% over the past twelve months. InvestingPro rates the stock as potentially overvalued, while analysts raised their price targets (BofA to $900, Evercore to $1,000). In addition, Seagate announced the exchange of senior convertible notes with a principal amount of $185.908 million for cash and approximately 2.02 million common shares. » More on de.investing.com

Seagate completed the exchange of exchangeable senior notes due 2028 with a principal amount of $185.908 million, receiving $185.908 million in cash and approximately 2.02 million common shares in return; the exchanged notes were redeemed. The number of shares issued was determined over a one-day trading period. Management executed the transactions as private placements under Section 4(a)(2). The stock traded near its 52-week high, the market capitalization is about $195 billion, and an analysis by InvestingPro currently rates the stock as overvalued. » More on de.investing.com