Barclays Raises its Price Target on Seagate (STX)

Seagate Technology Holdings plc (NASDAQ:STX) is one of the 10 Best Data Center Stocks with Huge Upside Potential.

On May 27, 2026, Barclays analyst Tom O’Malley raised the firm’s price target on Seagate Technology Holdings plc (NASDAQ:STX) to $1,000 from $750 and maintained an Overweight rating on the shares. O’Malley said memory and storage remain the “most attractive vertical below accelerators” in the semiconductor group. Barclays expects continued pricing upside as the supply-demand imbalance persists through 2027, with the biggest hard disk drive pricing opportunity expected toward the end of the year as new contract pricing and products come into play and mix shifts toward 40TB drives.

Also on May 27, Seagate Technology Holdings plc (NASDAQ:STX) and Seagate HDD Cayman announced the closing of previously announced privately negotiated exchanges of $185.908M principal amount of Seagate HDD’s 3.50% Exchangeable Senior Notes due 2028. The exchange consideration included $185.908M in cash and approximately 2.02M ordinary shares of Seagate stock. The exchanged notes have been retired, while approximately $185.8M in aggregate principal amount of notes remain outstanding with unchanged terms.

A day earlier, BofA raised the firm’s price target on Seagate Technology Holdings plc (NASDAQ:STX) to $900 from $840 and maintained a Buy rating on the shares. After hosting a client call with CEO Dave Mosley, BofA used a higher multiple, citing more confidence in the sustainability of demand and pricing.

Seagate Technology Holdings plc (NASDAQ:STX) provides data storage technology and infrastructure solutions in Singapore, the United States, the Netherlands, and internationally.

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