On July 31, Seagate Technology PLC rose 6.17% in regular trading, trading at $910.5/share with turnover of $351 million, extending the post-earnings rally momentum.

On the news front, Seagate previously reported FY2026 Q4 revenue of $3.629 billion, up 48% year-over-year and above the $3.485 billion consensus; adjusted EPS of $5.71, surging 120% YoY and beating estimates by approximately 12%; gross margin hit a record 52.7%. More critically, the company guided Q1 FY2027 revenue of $4.0-4.2 billion, far exceeding the $3.75 billion consensus, with adjusted EPS of approximately $7.30 versus the $5.80 Street estimate, reflecting robust AI-driven data storage demand. Following the results, multiple Wall Street banks raised price targets, including Citi to $1,300, Barclays to $1,250, JPMorgan to $1,240, Wells Fargo to $1,180, and Wedbush to $1,000, collectively boosting market sentiment. The company noted cloud data center capacity is locked through 2028, with customer planning extending beyond 2029.

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