Seagate Surges to Record High on Analyst Upgrades and Strategic Moves with $660M Volume Ranking 138th

Seagate Technology (STX) surged 3.41% on Sept. 3, 2025, with a trading volume of $660 million, ranking 138th in market activity. The stock closed at a record $173.49, marking a historic milestone for the data storage giant.

The rally followed a series of analyst upgrades and strategic developments. Benchmark upgraded its price target to $165 from $128, citing strong Q2 performance driven by global cloud demand and record nearline drive shipments. TD Cowen raised its target to $175, emphasizing progress in HAMR technology and improved cloud demand visibility. Cantor Fitzgerald maintained an Overweight rating with a $175 target, highlighting Seagate’s 100.22% year-to-date return and 38.86% revenue growth. The board also added Thomas Szlosek, former CFO of AutoNation, signaling corporate governance enhancements.

Investor confidence is reflected in Seagate’s “GREAT” financial health rating and a $36 billion market cap. The company’s 15-year consecutive dividend streak further underscores its reliability. However, Morgan Stanley’s shift to favor Western Digital as the sector’s top pick introduces competitive dynamics to monitor.

Seagate’s stock has outperformed through strategic execution and sustained demand for storage solutions. The recent analyst momentum and governance updates align with its position as a key player in the evolving tech landscape.