Seagate, Western Digital in focus as Loop Capital ups price targets after strong earnings

[HDD PCB]

* Seagate Technologies (STX [https://seekingalpha.com/symbol/STX]) and Western Digital (WDC [https://seekingalpha.com/symbol/WDC]) were in focus on Monday as Loop Capital upped its price targets on the storage makers after they reported [https://seekingalpha.com/news/4509481-seagate-perks-up-as-q1-results-guidance-buoyed-by-ai-spending] stronger-than-expected earnings [https://seekingalpha.com/news/4511443-western-digital-surges-as-ai-demand-fuels-q1-results-guidance-ups-dividend].
* “We are raising our STX PT to $465 (from $350) & WDC PT to $250 from $190 as ... our analysis suggests that [hard disk drive] capacity demand again is on the move to the tune of at least a 10% increase to our prior 2026 estimates,” Loop Capital analysts wrote in a note to clients.
* The analysts also noted that Seagate and Western Digital should see average selling prices increase for higher capacity drives, which is “materially accretive.” And with the pair having “cracked open” the re-rating conversation and hard-disk drive economics still accelerating, a higher earnings multiple is not only sustainable, but they could move towards the high-end of the recent P/E ranges.

MORE ON SEAGATE TECHNOLOGY AND WESTERN DIGITAL

* Western Digital: Rampant Demand, But Take Chips Off The Table (Downgrade) [https://seekingalpha.com/article/4836507-western-digital-rampant-demand-but-its-time-to-take-chips-off-the-table-downgrade]
* Western Digital Corporation (WDC) Q1 2026 Earnings Call Transcript [https://seekingalpha.com/article/4835925-western-digital-corporation-wdc-q1-2026-earnings-call-transcript]
* Western Digital Corporation 2026 Q1 - Results - Earnings Call Presentation [https://seekingalpha.com/article/4835880-western-digital-corporation-2026-q1-results-earnings-call-presentation]
* Seagate leads memory makers higher as demand soars on AI infrastructure [https://seekingalpha.com/news/4516015-seagate-leads-memory-makers-higher-as-demand-soars-on-ai-infrastructure]
* Western Digital is benefiting from 'robust' cloud momentum, analysts say [https://seekingalpha.com/news/4512244-western-digital-is-benefiting-from-robust-cloud-momentum-analysts-say]