STX

Seagate Technology Holdings plc

Seagate Technology Holdings plcSTX

Technology · Computer Hardware

639.01USD

-7.50%

Oct 17, 2026

STX overview ready

Specialized Supplier of HAMR-Enabled High-Capacity Nearline HDDs for AI Storage

Seagate is a direct supplier of high-capacity nearline HDDs to cloud and enterprise data centers, with HAMR-enabled density gains making it a constrained, specialized supplier to AI-era mass-storage expansion.

Strong narrative exposure

Exposed to the AI Compute Infrastructure Buildout narrative through High-Capacity Data Center Storage — bottleneck supplier.

Constructive pullback in an uptrend

Longer-term context reads extended trend, with a near-term setup of constructive pullback.

The setup is constructive, but the underlying structure is still poor.

Demanding valuation

The price embeds expectations that run ahead of what comparable businesses command.

Fundamentals under pressure

Ev / ebitda is weak.

Primary risk

Cyclical demand fluctuations.

Market Oct 16Filing Jul 3Price action Aug 9

Conviction Level

Theme Heat has no canonical measurement for this company — a research-profile dimension, not an input to this score.

Price

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Price Action

Constructive pullback in an uptrend

Longer-term context reads extended trend, with a near-term setup of constructive pullback.

The setup is constructive, but the underlying structure is still poor.

EntryReset + recovery

The stock remains extended from its long-term weekly base, but the recent reset toward the daily SMA100 aligned with support at the weekly EMA21. Daily structure is recovering above the fast averages, improving the current entry location.

Key Financials

Market Cap: $144.8B
Avg Volume (60D): 4.3M
Revenue Growth YoY: +34.1%
Gross Margin: +45.6%
Operating Margin: +33.6%
Free Cash Flow Yield: +2.1%
P/E: 45.5x
EV / EBITDA: 33.6x
EV / Sales: 12.0x

Market metrics as of Oct 16, 2026

Financial results for the period ended Jul 3, 2026

Filed balance-sheet data as of Jul 3, 2026

Fundamentals & Valuation

Two of the three valuation perspectives say expensive; intrinsic is the dissenting view.

Seagate Technology Holdings plc has an Expensive valuation stance because the price embeds expectations that run ahead of what comparable businesses command.

Company Research

Thesis

Opportunity

Moderate opportunity

Hyperscaler and enterprise investment in cost-efficient, exabyte-scale persistent storage to retain, train on, retrieve, protect, and manage the rapidly expanding data created by AI and cloud workloads.

Key risk

Cyclical demand fluctuations.

Narrative & Theme

AI Compute Infrastructure Buildout

Part of High-Capacity Data Center Storage, with strong fit.

STX has a real and direct AI-infrastructure linkage, not a generic technology adjacency: AI and cloud workloads increase the volume of data that must be stored persistently at low cost per terabyte, and Seagate supplies the nearline mass-capacity HDD tier used in hyperscale data centers.

Narrative HeatUnavailable

Theme HeatUnavailable

Business & Markets

Technology · Computer Hardware

What they do

Seagate Technology Holdings plc designs, manufactures, and sells data storage technology and infrastructure solutions globally, focusing on high-capacity hard disk drives and solid state drives for enterprise and consumer markets.

How it earns

The company generates revenue primarily through transactional sales of storage hardware products and related systems.

Products & services

Enterprise nearline hard disk drives (HDDs)

Enterprise nearline solid state drives (SSDs)

External storage solutions

Network-attached storage drives

Customers & end markets

Enterprise data centers

Consumer electronics users

Market position

Seagate is a market leader in the data storage hardware industry, particularly in hard disk drives.

Demand drivers

Medium cyclicality

Demand for storage products is influenced by enterprise IT spending cycles and consumer electronics trends.