Is Seagate Technology Stock Outperforming the S&P 500?

Core Insights - Seagate Technology Holdings plc is a major player in the data storage technology sector, with a market capitalization of approximately $45 billion, making it one of the largest manufacturers of hard disk drives (HDDs) globally [1][2]. Performance Metrics - Seagate's stock reached an all-time high of $215.20 on September 16 and is currently trading slightly below that peak, having increased by 63% over the past three months, significantly outperforming the S&P 500 Index, which gained 10.3% during the same period [3]. - Year-to-date, Seagate's stock has surged by 147.2%, and over the past 52 weeks, it has increased by 109%, again outperforming the S&P 500's 12.2% and 17.1% gains respectively [4]. Financial Results - In Q4, Seagate reported a 29.5% year-over-year revenue increase to $2.4 billion, exceeding market expectations by 1.6%. The company also achieved a record gross margin, with non-GAAP EPS of $2.59, reflecting a 146.7% year-over-year increase [5]. - Despite strong results, the stock experienced a 3.5% drop following the Q4 earnings release, but rebounded with a 6.5% increase in the next trading session [6]. Analyst Ratings - Among 22 analysts covering Seagate, the consensus rating is a "Moderate Buy," with the stock trading above the mean price target of $174.26 [6].