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The move reflects confidence in the company’s performance, with unchanged estimates of $2.40 billion in revenue and $2.40 in EPS for the June quarter, matching consensus expectations. Seagate’s strong trailing twelve-month revenue of $8.54 billion and 36.29% growth further justify the bullish outlook. Mizuho also raised forecasts for fiscal 2026 and 2027, projecting higher revenue and EPS than earlier estimates and consensus projections.
The firm highlighted Seagate’s cutting-edge HAMR technology, which is enhancing profit margins and meeting strong demand from major cloud providers. With production expanding to more customers in the coming year and a solid gross profit margin of 33.79%, Seagate remains a key player in the data storage sector.
Seagate Technology Holdings PLC (NASDAQ:STX) is a company that develops, manufactures, and sells data storage solutions, including hard disk drives (HDDs) and solid-state drives (SSDs), for enterprise and consumer markets.
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Disclosure: None. This article is originally published at Insider Monkey.
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