Seagate (STX) Climbs 17.8% on Earnings Blowout

We recently published Millionaire Makers: 10 Stocks That Paid Off Big Last Week.  Seagate Technology Holdings plc (NASDAQ:STX) was one of the top performers last week.

Seagate Technology saw its share prices jump to a new all-time high, finishing higher by 17.79 percent week-on-week, thanks to a strong earnings performance in the second quarter of fiscal year 2026.

On Thursday, Seagate Technology Holdings plc (NASDAQ:STX) hit its highest price of $457.84 before profit-taking persisted on Friday to drag its share prices down by 8.71 percent to $407.69 apiece.

Still, the company remained one of last week’s top-performing stocks, as investor sentiment was fueled by a 76 percent expansion in net income to $593 million from $336 million in the same period a year earlier. Revenues also jumped by 21.5 percent to $2.8 billion from $2.3 billion year-on-year.

“Seagate’s December quarter results exceeded our expectations on both the top and bottom line, setting new records for gross margin, operating margin, and non-GAAP EPS. This performance highlights our team’s strong operational execution, the durability of data center demand, and the ongoing ramp of our HAMR-based Mozaic products,” Chairman and CEO Dave Mosley was quoted as saying in a statement.

“As AI applications amplify the creation and economic value of data, modern data centers increasingly need storage solutions that combine performance and cost-efficiency at exabyte-scale. Our areal-density-driven product roadmap positions us to meet the evolving storage requirements and exabyte demand growth, while creating significant value for our customers and shareholders for years to come,” Mosley concluded.

In the third quarter ending March, Seagate Technology Holdings plc (NASDAQ:STX) is targeting revenues to hit $2.9 billion at the midpoint, plus or minus $100 million, as well as diluted EPS of $3.40, plus or minus $0.20.

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.