New York, January 28, 2026, 05:35 (ET) — Premarket
- Seagate shares surged over 10% in pre-market trading following better-than-expected earnings and an upbeat forecast.
- The storage company reported quarterly revenue of $2.83 billion, with non-GAAP EPS coming in at $3.11.
- A quarterly dividend of $0.74 will be paid on April 8, with the record date falling on March 25.
Seagate Technology Holdings plc shares jumped roughly 11.6% in premarket trade Wednesday, pushing the price close to $414.70. The boost came after the data-storage firm posted results that topped Wall Street estimates and provided a forecast that exceeded consensus. 1
The market remains focused on the “AI buildout” theme, where the constraint isn’t just chips but the massive volumes of data these systems process. Seagate projected fiscal third-quarter revenue at $2.90 billion, with a $100 million margin either way, and adjusted EPS of $3.40, plus or minus 20 cents—both figures beating LSEG estimates. The company also reported second-quarter results that surpassed forecasts. CEO Dave Mosley highlighted that modern data centers require storage solutions balancing “performance and cost-efficiency at exabyte-scale.” 2
Seagate posted fiscal second-quarter revenue of $2.83 billion, with non-GAAP diluted EPS coming in at $3.11, excluding certain one-time costs. The company reported a GAAP gross margin of 41.6%, boosted by the rollout of its HAMR-based Mozaic drives—using heat-assisted magnetic recording to increase storage density. “December quarter results exceeded our expectations,” Mosley said in the release. 3
After the report, the stock saw active after-hours trading. On Tuesday, MarketWatch recorded Seagate at $407.97, a 9.74% jump from its regular session close of $371.76. 4
In a separate filing, Seagate’s board approved a quarterly cash dividend of $0.74 per share, set for payment on April 8 to shareholders on record as of March 25. The company also confirmed it hosted its earnings webcast Tuesday afternoon. 5
Seagate was gaining momentum early on. The stock jumped 3.76% Tuesday, with trading volume surpassing its 50-day average. Other storage names like Western Digital, NetApp, and Pure Storage also ended the day up. 6
Attention in the storage sector shifts sharply to the upcoming update. Western Digital is set to release its fiscal second-quarter earnings after the close on Thursday, Jan. 29. The company will also host a conference call that day. 7
But this rally isn’t without risks. Hard-disk drive demand often fluctuates alongside cloud spending cycles, and the industry has a well-known pattern of price drops whenever supply loosens or buyers hold back orders—even amid rising shipment volumes.
Wednesday’s key question: can the premarket rally sustain after Nasdaq kicks off at 9:30 a.m. ET? After that, eyes turn to Western Digital’s earnings on Jan. 29. Seagate investors will be watching the March 25 record date for the upcoming dividend.
