Seagate Upgraded as SK Hynix Enters U.S. Markets & STX Options Trade

Seagate shares rose nearly 2% after Wells Fargo upgraded the stock to overweight from equal weight and raised its price target sharply, citing confidence in earnings power, capital returns, and improving demand visibility into 2027–2028. The segment remained strong after a recent pullback, with Seagate up roughly 540% over the past year and 230% year to date. The discussion also referenced Western Digital’s upgraded outlook and broader strength in memory/chip names, though some peers such as Micron were weaker intraday. Overall, the article is bullish on Seagate and the storage hardware group, with options activity highlighted as traders positioned for a move back toward recent highs.