Seagate Gains 0.56% on Baird's Bullish Upgrade as $510M Volume Ranks 217th in Market Activity

On August 7, 2025, Seagate Technology (STX) closed with a 0.56% gain, trading at a volume of $0.51 billion, ranking 217th in market activity. The stock's movement followed a strategic upgrade from Baird, which raised its price target for Seagate from $120 to $188 while retaining an "Outperform" rating. The firm cited improved company fundamentals not yet reflected in the stock price as the rationale for the adjustment.

Second-quarter financial results underscored Seagate's operational recovery, with revenue reaching $2.4 billion, a 29.5% year-over-year increase. Non-GAAP earnings per share (EPS) of $2.59 exceeded consensus estimates by 6%. However, Q3 guidance suggests cautious optimism: projected revenue of $2.5 billion trails analyst expectations by 2.5%, with adjusted EPS guidance at $2.30—slightly below the $2.32 consensus. These figures highlight mixed signals about near-term performance despite the firm's broader recovery.

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