New York, Feb 9, 2026, 15:47 ET — Regular session
- Seagate slipped roughly 0.4% in afternoon trading, trailing gains in the broader market.
- Loop Capital bumped its Seagate target up to $700. UBS lifted its own target as well but kept a neutral stance.
- U.S. jobs numbers drop Feb. 11, with inflation figures set for Feb. 13—investors are watching both for the market’s next move.
Seagate Technology Holdings (STX) slipped roughly 0.4% to $427.48 in Monday afternoon trading. This, despite Loop Capital bumping up its price target for the data-storage company. Shares have moved between $415.00 and $438.04 so far today.
The drop is notable—Seagate’s turned into a heavily trafficked bet on the AI data-center wave, with the stock swinging hard whenever demand or supply signals twitch. With fresh U.S. macro numbers landing this week, investors are paring back exposure, eyeing the stock to gauge whether it’s already priced in the optimism.
Loop Capital bumped its price target up to $700 from $465 and kept its buy call, MT Newswires reported. Remember, price targets reflect analysts’ 12-month outlooks—they’re not set in stone.
UBS lifted its price target to $440 from $385 but stuck with a neutral stance, according to MT Newswires. Seagate’s rally has drawn both camps—one side bullish on the tight HDD supply, the other wary of the stock’s rapid climb.
Seagate shares have surged since late January, after the company projected third-quarter revenue and profit ahead of Wall Street’s targets, citing robust demand for data storage as enterprises ramp up AI efforts. “Performance and cost-efficiency at exabyte-scale” is what modern data centers require, according to CEO Dave Mosley. Morningstar analysts note there’s room for growth, even if prices are slipping. Reuters
Seagate makes hard disk drives and storage gear for data centers and cloud platforms, sectors seeing increased demand as AI workloads — and the data that comes with them — keep growing. Western Digital stands as its main publicly traded competitor in hard drives.
Storage stocks saw gains Monday. Western Digital climbed roughly 1.5%. NetApp tacked on 0.4%, while Pure Storage jumped close to 4.8%.
Still, Seagate shares slipped after their recent surge—a quick reversal that underscores how fast the mood can change. The stock’s vulnerable: hints of weaker cloud spending or loosening supply constraints in nearline drives could drag it down. High-growth tech hardware like this usually gets hit first when rate worries flare up.
Seagate’s next round of shareholder returns isn’t far off. The company’s quarterly dividend stands at $0.74 a share, with the payout set for April 8 to holders on record as of March 25. That detail came in Seagate’s most recent results.
Wednesday brings the next big test: the U.S. Labor Department drops its January jobs report at 8:30 a.m. ET. That release has the power to jolt rate bets—and shift tech valuations fast.
Attention shifts to Friday, with the U.S. Consumer Price Index for January hitting at 8:30 a.m. ET—a key moment for Seagate and names tied to the AI-hardware story.
