5 Best Memory Stocks to Buy According to Analysts

4. Seagate Technology Holdings plc (NASDAQ:STX)

Seagate Technology Holdings plc (NASDAQ:STX) secures a spot on our list of the best memory stocks to buy according to analysts.

As of April 20, 2026, bullish analyst sentiment on the stock implies roughly 29.72% upside potential. According to analysts, Seagate’s bullish case rests on sustained data center demand for mass-capacity storage.

That is what stood out in BofA’s April 20, 2026, note, in which the firm raised its price target on Seagate Technology Holdings plc (NASDAQ:STX) to $605 from $450 and maintained a “Buy” rating. The bank said continued strength in data center revenues should help absorb the usual March-quarter seasonality in edge IoT markets, and it now expects Seagate to report fiscal third-quarter revenue and EPS above Street expectations on April 28.

The latest analyst support, in other words, is rooted in the view that Seagate Technology Holdings plc (NASDAQ:STX)’s most important end market is holding up well enough to offset the softer demand elsewhere. Seagate’s own March 3, 2026, update adds weight to that view.

Seagate Technology Holdings plc (NASDAQ:STX) said its HAMR-based Mozaic 4+ platform had cleared qualification and moved into production with two leading hyperscale cloud providers, reaching capacities of up to 44TB, with broader scale-up still underway. BofA’s confidence in near-term data center resilience, then, is not just an analyst call. It sits alongside tangible progress in Seagate’s hyperscaler-facing storage platform, built to handle data growth at scale.

Seagate Technology Holdings plc (NASDAQ:STX) is a data storage hardware and infrastructure company specializing in mass-capacity solutions. It designs and manufactures high-performance hard drives, solid-state drives, and edge-to-cloud platforms. By providing essential storage for everything from enterprise data centers to personal gaming rigs, it enables the secure management of massive digital footprints.