On July 27, Seagate Technology PLC rose 3.21% overnight, trading at $880.0/share, with turnover of $8.6381 million.

On the news front, multiple institutions maintained bullish ratings on the company ahead of its earnings report scheduled for July 28 after market close. JPMorgan recently raised its price target from $920 to $1,095 while maintaining an Overweight rating. The consensus average target price stands at $1,015.59. The core thesis centers on AI data center capital expenditure recovery, nearline HDD high-capacity product mix improvement, and margin expansion driving profit elasticity.

Last quarter, Seagate reported revenue of $3.112 billion, up 44.07% year-over-year, with gross margin at 46.50% and adjusted EPS of $4.10, up 115.79% year-over-year. For the upcoming quarter, analysts expect EPS of $4.89, implying continued earnings momentum. Morgan Stanley separately noted that memory is increasingly becoming a key bottleneck in AI infrastructure, characterizing the recent pullback as an attractive buying opportunity for the storage sector.

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