Seagate Technology (STX)
NASDAQInformation TechnologyComputer HardwareSnapshot 2026-09-04
$849.28+6.34%
Close 2026-09-04 · 1-day change
NASDAQInformation TechnologyComputer HardwareSnapshot 2026-09-04
QuarterlyIQ Insights · STX
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Focus on capturing growth from AI-driven data creation and demand for mass capacity storage with HAMR technology and Mozaic platform.
Stated as a priority in 6 of last 6 quarters. Revenue grew from $2.17B in 2025-Q1 to $3.11B in 2026-Q1. Nearline shipments reached 137 exabytes in 2026-Q2, up 52% year-on-year. Management consistently emphasizes AI-driven demand and HAMR technology ramp, and financials show delivering growth aligned with this priority.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 3 of the last 3 quarter-over-quarter moves. Historically, Information Technology names rated strong grew net income 65% of the time over the next year (vs 52% for the rest of the cohort, n=6360).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
“CEO: 'Seagate is entering a new era of structural growth as AI applications amplify data creation and support sustained storage demand... Mozaic platform and HAMR technology roadmap.'”
“CEO: 'AI is transforming how content is being consumed and generated, increasing the value of data and storage and Seagate is well positioned for continued profitable growth.'”
“CEO: 'Structural changes in our business model and strong product pipeline make Seagate well positioned to deliver improving profitability and cash generation.'”
“CEO: 'We remain focused on executing our HAMR product ramp to support ongoing cloud customer demand... confident that our technology leadership and resilient financial model will drive profitable gro…”
“CEO: 'We began ramping HAMR-based Mozaic products to our lead cloud customer... strong product momentum positions us well to address customer demand while delivering profitable growth.'”
“CEO: 'We executed on our plans to aggressively ramp our 28-terabyte nearline drives and broaden the number of cloud customers entering qualification on HAMR-based Mozaic products.'”
Continue generating robust free cash flow and returning capital to shareholders via dividends and share repurchases.
Stated as a priority in 6 of last 6 quarters. Free cash flow increased from $427M in 2026-Q1 to $953M in 2026-Q3. Dividends per share rose slightly from $0.72 to $0.74. Management consistently returned capital via dividends and plans to resume share repurchases, showing delivering on cash flow and shareholder returns.
“CFO: 'Free cash flow nearly doubled in the June quarter to $425 million... returned $153 million to shareholders through dividends.'”
“CFO: 'Generated $532 million in cash flow from operations and $427 million in free cash flow... returned $182 million to shareholders through dividends and repurchases.'”
“CFO: 'Invested $265 million in capital expenditures and returned $810 million to shareholders through dividends and share repurchases in fiscal 2026.'”
“CFO: 'Generated $1.1 billion in cash flow from operations and $953 million in free cash flow... returned $191 million to shareholders through dividends and share repurchases.'”
“CFO: 'Generated $723 million in cash flow from operations and $607 million in free cash flow... paid cash dividends of $154 million.'”
“CFO: 'Generated $532 million in cash flow from operations and $427 million in free cash flow... paid cash dividends of $153 million and repurchased shares.'”
Advance HAMR technology and Mozaic platform to increase areal density and capacity per disk, targeting 4+ TB per disk and beyond.
Stated as a priority in 5 of last 6 quarters. Management highlights ramping 4+ TB per disk HAMR drives with qualification started in 2026-Q1 and volume ramp expected in first half 2026. They target 5 TB per disk introduction in early 2028 and exabyte shipment crossover in second half 2026. The trajectory matches management’s stated roadmap progress.
“CEO: 'A top priority during fiscal 26 is executing our 4 plus terabyte per disk qualification and volume ramp.'”
“CEO: 'We recently started qualification with a global CSP on the 4 TB per disk platform and expect volume ramp in first half of calendar 2026.'”
“CEO: 'We started the high volume ramp of two new nearline platforms including the industry’s first HAMR hard drive.'”
“CEO: 'We are executing our HAMR product ramp to support ongoing cloud customer demand.'”
“CEO: 'We began ramping HAMR-based Mozaic products to our lead cloud customer in the December quarter.'”
Over the trailing year it converted 1.68x of net income into operating cash flow. Historically, Information Technology names rated neutral grew net income 57% of the time over the next year (vs 52% for the rest of the cohort, n=4162).
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, real (inflation-adjusted) rates, Fed net liquidity, long-term interest rates (low R² over the window).
35 material management or governance events in the past 24 months, led by capital-allocation actions. Historically, Information Technology names rated volatile grew net income 60% of the time over the next year (vs 58% for the rest of the cohort, n=2769).
Not investment advice. As of 2026-09-04.