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STX

Seagate Technology PLC

NASDAQ: STX · TECHNOLOGY · COMPUTER HARDWARE

$673.64
+4.72% today

Updated 2026-04-30

Market cap
$131.33B
P/E ratio
66.24
P/S ratio
13.06x
EPS (TTM)
$8.85
Dividend yield
0.49%
52W range
$80 – $608
Volume
3.8M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Seagate Technology PLC (STX) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$673.64
Consensus
$410.60
-39.05%
2030 Target
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DCF
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20 analysts:
8 Buy5 Hold0 Sell

Management guidance

No specific long-term CEO revenue targets disclosed in available data. Most recent guidance indicates Q3 2026 revenue expectations aligned with analyst consensus of $11.61B for FY2026, reflecting 27.67% growth from FY2025's $9.10B. Management emphasizes HAMR technology scaling and AI-driven storage demand as primary growth drivers through 2028+.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$1,932.12
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Base case (2030)
$1,159.27
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Bear case (2030)
$772.85
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Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)
Revenue$7.4B$6.6B$9.1B$11.6B$14.5B$18.2B$21.9B
Revenue growth—-11.3%38.9%27.7%25.1%25.2%20.1%
EPS—$1.28$5.72$13.13$20.53$28.85$36.15
P/S ratio———12.0x12.0x12.0x12.0x
Implied price———$601.10$772.85$987.53$1,159.27

Catalysts & risks

Growth catalysts
+ HAMR (Heat-Assisted Magnetic Recording) technology mass production scaling to 30TB+ drives by 2027-2028
+ AI data center capex supercycle: Meta, Microsoft, Google, Amazon accelerating hyperscale infrastructure spending through 2028
+ Cloud storage demand explosion: 175+ exabyte annual growth trajectory through 2030 requiring massive HDD/storage expansion
+ Competitive advantage: HAMR roadmap positions STX ahead of WDC; capacity density gains command premium pricing
+ Memory/storage consolidation: AI workloads require both HDD (capacity) and memory; Seagate positioned in core infrastructure
+ Margin expansion: Operating margin currently 25.6%; HAMR drives at higher ASPs could drive margin to 30%+ by 2028
Key risks
- Google TurboQuant compression technology could reduce HDD demand by 10-15% if widely adopted in data centers
- SSD/NVMe price deflation compressing HDD pricing power and total addressable market erosion in performance-critical workloads
- Cyclical semiconductor downturn: If capex spending peaks in 2026-2027, storage demand could plateau/decline 2028-2030
- WDC competitive threat: Western Digital investing heavily in HAMR and ePMR; if WDC reaches 40TB ePMR first, market share loss risk
- Geopolitical supply chain disruption: Iran tensions, Taiwan risks could constrain component availability and manufacturing
- Macro recession: Storage capex is discretionary for non-hyperscaler customers; broad economic contraction could dampen growth

Methodology

Seagate Technology PLC's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 20 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 6, 2026.