On July 29, Seagate Technology PLC rose 4.84% in regular trading, trading at $776.845/share with turnover of $363 million. The rally follows the company's blockbuster fourth fiscal quarter earnings report released after the prior session's close.

Seagate reported Q4 FY2026 revenue of $3.629 billion, up 48% year-over-year and above the analyst consensus of $3.485 billion. Adjusted EPS came in at $5.71, beating estimates of $5.09 by 12% and representing a 120% surge from the prior year. Adjusted operating margin reached a record 44.6%, surpassing the 41.9% forecast. Net income totaled $1.294 billion, up over 165% year-over-year.

More critically, the company issued Q1 FY2027 guidance of $4.0-4.2 billion in revenue, far exceeding the $3.75 billion consensus, with adjusted EPS of approximately $7.30 versus the $5.80 estimate, reflecting surging AI-driven data center storage demand. Multiple analysts raised price targets following the report, including Citi to $1,300 and Wells Fargo to $1,180.

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