Seagate climbs 3% to reach record high as year-to-date surge continues

[Seagate Technology PLC headquarters]
Sundry Photography/iStock Editorial via Getty Images

Seagate Technology (NASDAQ:STX [https://seekingalpha.com/symbol/STX]) had climbed 3% and remained on track to reach a new all-time high by late morning trading on Monday as the data storage company's year-to-date surge continues.

If Monday's gains hold, Seagate will close with a share value of more than $164 for the first time ever. Shares have already surged 90% year to date, with the bulk of the gains coming in the last four months. This stock was trading in the $60s in early April, as the market was driven by significant selloffs due to tariff policies.

Its intraday market cap had climbed about $800M to $35.01B by noon trading.

Seagate has Buy ratings from Seeking Alpha [https://seekingalpha.com/symbol/STX/ratings/author-ratings] and Wall Street [https://seekingalpha.com/symbol/STX/ratings/sell-side-ratings] analysts. It has a Strong Buy [https://seekingalpha.com/symbol/STX/ratings/quant-ratings] rating from Seeking Alpha's Quant system.

Seeking Alpha analyst Narek Hovhannisyan [https://seekingalpha.com/article/4808267-seagate-cloud-demand-and-margin-expansion-in-focus] was impressed by its recent 30% revenue growth and record margins as its high-capacity hard disk drive offerings continue to gain share in cloud and enterprise markets.

"Seagate has few direct competitors in the hard drive market - in fact, it is a duopoly with Western Digital (WDC [https://seekingalpha.com/symbol/WDC]) and a small share of Toshiba (OTCPK:TOSBF [https://seekingalpha.com/symbol/TOSBF])," Hovhannisyan said in a recent analysis. "Over the past couple of years, industry participants have stopped fighting prices and switched to a more careful strategy, reducing output in order to maintain margins."

During Seagate's fourth quarter earnings call late last month, Seagate CEO William David Mosely said the highs and lows associated with seasonality are fading away in the data storage business.

"But I think for the bulk of our business, there really isn't any seasonality anymore," Mosely said.

MORE ON SEAGATE TECHNOLOGY

* Seagate: Cloud Demand And Margin Expansion In Focus [https://seekingalpha.com/article/4808267-seagate-cloud-demand-and-margin-expansion-in-focus]
* Seagate: Time To Lock In Gains, As Multiples And Margins Trail Peers (Rating Downgrade) [https://seekingalpha.com/article/4808040-seagate-time-to-lock-in-gains-as-multiples-and-margins-trail-peers-downgrade]
* Seagate Technology Holdings plc 2025 Q4 - Results - Earnings Call Presentation [https://seekingalpha.com/article/4805818-seagate-technology-holdings-plc-2025-q4-results-earnings-call-presentation]
* Seagate still holds momentum despite softer outlook: analysts [https://seekingalpha.com/news/4474263-seagate-still-holds-momentum-despite-softer-outlook-analysts]
* Seagate signals revenue growth and margin expansion in fiscal 2026 through HAMR adoption [https://seekingalpha.com/news/4473967-seagate-signals-revenue-growth-and-margin-expansion-in-fiscal-2026-through-hamr-adoption]