Seagate Technology stock fell 9.18 percent as TDK bid raised risk

Published on 10/07/2026 at 13:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Seagate Technology stock reported USD 3.63 billion in June-quarter revenue on July 28, 2026, up 48.5 percent year over year. Analysts set a USD 1,125.00 average target.

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Seagate Technology stock (ISIN IE00BKVD2N49) was last at USD 805.63 on Nasdaq on October 6, 2026, at 4:00 p.m. ET, down 9.18 percent from the prior close. The selloff followed reports that Seagate was competing with Toshiba for TDK's magnetic-heads business, while Toshiba's planned hard-drive capacity expansion revived concerns about future pricing and margins, as MarketBeat reported on October 6, 2026.

TDK bid adds supply risk

The TDK report changes the investor debate from demand alone to the cost of securing critical components. MarketBeat said a multibillion-dollar bidding contest could strengthen Seagate's supply chain, but also increase integration and valuation risks.

The immediate pressure came alongside a steep valuation reset. Seagate's October 6 intraday range was USD 798.62 to USD 863.50, while its 52-week range was USD 209.00 to USD 1,145.00. The stock therefore remained 29.64 percent below its 52-week high, based on the same Nasdaq session data.

June quarter delivered strong growth

Seagate's operating figures provide a counterweight to the supply concern. In the fiscal fourth quarter reported on July 28, 2026, revenue was USD 3.63 billion, up 48.5 percent year over year, and non-GAAP EPS reached USD 5.71 versus a USD 5.10 consensus estimate, according to Yahoo Finance.

Data center revenue was USD 2.9 billion in that quarter, up 57 percent year over year, while data center shipments represented 89 percent of total exabyte shipments. Management guided fiscal Q1 2027 revenue to USD 4.1 billion plus or minus USD 100 million and non-GAAP EPS to USD 7.30 plus or minus USD 0.20.

For fiscal 2026 ended July 3, 2026, revenue reached USD 12.195 billion, up from USD 9.097 billion in fiscal 2025, while net income rose to USD 3.184 billion from USD 1.469 billion, according to TickerScout.

Consensus remains above the stock

The analyst view remains more constructive than the October 6 price action. MarketScreener lists a Buy consensus from 25 analysts and an average target of USD 1,125.00, with the target 39.60 percent above the USD 805.63 Nasdaq price.

That gap leaves supply execution as the central test. Seagate's June-quarter margin expansion and strong data center demand support the earnings case, while Toshiba's planned capacity increase and the potential TDK purchase put future pricing power and capital allocation under scrutiny.

Seagate stock sits below its yearly high

Seagate Technology stock was last at USD 805.63 on Nasdaq on October 6, 2026, with a market capitalization of USD 180.6 billion and volume of 7,274,920 shares. The next results checkpoint is the fiscal first quarter report listed by Nasdaq for October 27, 2026.