Seagate Technology Holdings plc (STX) Price Target Raised, HAMR Technology Drives Cost Savings

Seagate Technology Holdings plc (NASDAQ:STX) ranks among the 12 Best Performing S&P 500 Stocks in the Last 10 Years.

Seagate Technology Holdings plc (NASDAQ:STX) ranks among the best performing S&P 500 stocks in the last 10 years. Bernstein boosted Seagate Technology Holdings plc's (NASDAQ:STX) price target to $500 from $370 on January 29, while keeping an Outperform rating on the data storage company's shares. The raise comes after Seagate's solid fiscal second-quarter 2026 results, which beat forecasts for revenue, margins, and adjusted earnings per share of $3.11.

In addition to rapid cost savings from HAMR technology materializing sooner and more substantially than expected, Bernstein observed that average selling prices remained strong and exceeded their estimates.

The firm emphasized that demand continues to be solid while supply remains disciplined, with management stating that volumes have been set for calendar year 2026. However, price is only anticipated to move upward by low single digits quarter-to-quarter rather than seeing notable spikes.

Seagate Technology Holdings plc (NASDAQ:STX) is a global leader in data storage solutions, designing and manufacturing hard disk drives, solid-state drives, and storage systems for enterprise, cloud, and consumer applications.

While we acknowledge the potential of STX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the

READ NEXT: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds.