STX

Seagate's stock price has seen a 55.15% increase over the past six months, but recent events have impacted its performance. In June 2026, the stock benefited from heightened demand for data storage solutions related to AI infrastructure expansion, leading multiple Wall Street firms to raise price targets. On July 28, 2026, Seagate reported its fiscal fourth quarter and fiscal year 2026 financial results, with revenue of $12.2 billion and net income of $3.2 billion, resulting in a +2.29% stock price change. On September 9, 2026, the completion of exchangeable notes redemption led to a -2.03% stock price change. Around September 14, 2026, Seagate research indicating that nearly all organizations expect AI to increase storage requirements but only 38% are fully prepared was associated with a -2.97% change. On October 1, 2026, Seagate's CEO sold 11,002 shares under a preset trading plan. In early October 2026, Seagate entered a competitive bidding process with Toshiba to acquire TDK's magnetic-heads segment, a strategic move that led to a 9% decline in shares on October 6, 2026, due to investor concerns over potential balance sheet strain, debt expansion, and regulatory scrutiny. Also on October 6, 2026, reports of rival Toshiba's plans to significantly expand its AI data-center hard disk drive manufacturing capacity by fiscal 2027 sparked fears of oversupply, contributing to a 6.59% drop on October 6, 2026, and a 3.64% drop on October 8, 2026. Additionally, insider selling exceeding $27 million and high valuation multiples have contributed to downward pressure on the stock.