NasdaqGS:STXTech
Seagate (STX) Is Up 9.9% After Raising AI Storage Growth Targets And Redeeming Debt - Has The Bull Case Changed?
In recent days, Seagate Technology Holdings reported surging AI-related demand for its HAMR-based Mozaic drives, raised its long-term annual revenue growth target to at least 20%, and moved to redeem its 3.50% Exchangeable Senior Notes due 2028, tightening its balance sheet after eliminating about US$150.70 million of debt.
Multi-year agreements that have nearline capacity almost fully allocated through 2027, combined with very large 12‑month stock gains and insider share sales, highlight...