Seagate Technology Holdings PLC (STX) has been experiencing an upward trend in its share price recently. On May 22, shares rose by 3.02%, and the repurchase authorization was increased to $5 billion. The company has been performing well in the Artificial Intelligence (AI) storage market, with new technology developments and strong demand driving significant growth. In fact, Seagate's Q3 report showed them exceeding earnings estimates, a result of an impressive 30% revenue growth driven by rising demand for storage. Notably, the company has also been increasing its exposure in the data center market. Hedge funds and renowned investors, such as Steven Cohen, have identified STX as a valuable mid-cap stock with huge upside potential. In addition, Seagate has recently completed the acquisition of Intevac, a new move that's anticipated to create synergies and boost Seagate's performance. However, despite the promising growth and earnings, it should also be noted that some insiders and short sellers have been unloading their shares. Yet, the company remains a top pick among overlooked tech stocks and, given its ongoing success in capitalizing on the data storage and AI boom, it's projected to continue its upward trajectory.
Seagate Technology Holdings Plcs STX News Analytics from Fri, 21 Jul 2017 04:45:24 GMT to Thu, 22 May 2025 20:30:07 GMT -
Rating 7
- Innovation 6
- Information 8
- Rumor -3
