3 Reasons Seagate Technology Could Be Worth a Closer Look Ahead of July 28 Earnings

Quick Read STX delivered 44% revenue growth and $4.10 EPS as CEO Dave Mosley raised the multi-year growth target to at least 20%. STX pays nearly five times WDC's quarterly dividend ($0.

74 vs. $0.15) and outgrows PSTG while running operating margins more than double.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Seagate Technology didn't make the cut. Grab the names FREE today. Seagate Technology (NASDAQ:STX) is one of the sole-source picks-and-shovels suppliers to hyperscalers that has already contracted nearline capacity almost fully through calendar year 2027.

Here are 3 reasons why Seagate could be worth a closer look ahead of the company's Q4 earnings on July 28. 24/7 Wall St. 3 Numbers That Make Seagate Impossible to Ignore Growth is accelerating, not decaying.

Fiscal Q3 revenue landed at $3.11 billion, up 44.07% year over year, beating consensus by 5.

22%. Non-GAAP EPS of $4.10 cleared the $3.

506 estimate by 16.94%. Management then guided Q4 to $3.

45 billion in revenue and $5.00 in EPS at the midpoint, and CEO Dave Mosley raised the multi-year revenue growth target from low- to mid-teens to a minimum of 20% over the next few years. The cash flow is investment-grade.

Free cash flow hit $953 million, up 341.2% year over year, on a 31% free cash flow margin. Seagate retired $641 million of debt in the quarter, pushed net leverage to 0.

7x, earned an investment-grade upgrade from Fitch, and raised the quarterly dividend to $0.74 per share. The catalyst is visible on paper.

The top three cloud service providers have nearly doubled their remaining performance obligations to $1.1 trillion. Seagate's Mozaic 4 HAMR drives ship up to 44 terabytes per drive, over 30% more capacity than first-generation Mozaic.

Polymarket traders assign a 93.5% probability that Q4 hard drive exabyte shipments will exceed 190. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Seagate Technology didn't make the cut.

Grab the names FREE today. STX Analyst Ratings — 24/7 Wall St. The Bottom Line: Seagate's AI Demand Is Locked In Through 2027 The biggest risk today is that data-center storage demand eventually slows.

However, Seagate has already booked nearly all of its available nearline capacity through 2027, while profitability has improved for 12 consecutive quarters. Wall Street remains bullish, with 21 buy ratings, three holds, and only one sell. Analysts' average price target of $1,008.

61 also implies 18.4% upside from the current price of $851.69.

Investors can collect Seagate's rising dividend while its contracted hyperscaler demand supports continued revenue and earnings growth. STX Price Target — 24/7 Wall St. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Seagate Technology didn't make the cut.

Grab the names FREE today. Contact editorial@247wallst.com for any questions or corrections.

Quick Read STX delivered 44% revenue growth and $4.10 EPS as CEO Dave Mosley raised the multi-year growth target to at least 20%. STX pays nearly five times WDC's quarterly dividend ($0.

74 vs. $0.15) and outgrows PSTG while running operating margins more than double.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Seagate Technology didn't make the cut. Grab the names FREE today. Seagate Technology (NASDAQ:STX) is one of the sole-source picks-and-shovels suppliers to hyperscalers that has already contracted nearline capacity almost fully through calendar year 2027.

Here are 3 reasons why Seagate could be worth a closer look ahead of the company's Q4 earnings on July 28. 24/7 Wall St. 3 Numbers That Make Seagate Impossible to Ignore Growth is accelerating, not decaying.

Fiscal Q3 revenue landed at $3.11 billion, up 44.07% year over year, beating consensus by 5.

22%. Non-GAAP EPS of $4.10 cleared the $3.

506 estimate by 16.94%. Management then guided Q4 to $3.

45 billion in revenue and $5.00 in EPS at the midpoint, and CEO Dave Mosley raised the multi-year revenue growth target from low- to mid-teens to a minimum of 20% over the next few years. The cash flow is investment-grade.

Free cash flow hit $953 million, up 341.2% year over year, on a 31% free cash flow margin. Seagate retired $641 million of debt in the quarter, pushed net leverage to 0.

7x, earned an investment-grade upgrade from Fitch, and raised the quarterly dividend to $0.74 per share. The catalyst is visible on paper.

The top three cloud service providers have nearly doubled their remaining performance obligations to $1.1 trillion. Seagate's Mozaic 4 HAMR drives ship up to 44 terabytes per drive, over 30% more capacity than first-generation Mozaic.

Polymarket traders assign a 93.5% probability that Q4 hard drive exabyte shipments will exceed 190. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Seagate Technology didn't make the cut.

Grab the names FREE today. STX Analyst Ratings — 24/7 Wall St. The Bot