Summit Insights analyst Kinngai Chan upgraded Seagate (STX) to Buy from Hold. The firm is positive on the company’s HAMR HDD technology transition driving upside to its gross margin in the second half of FY25, also noting that the current favorable pricing environment and product mix at Seagate will continue, the analyst tells investors in a research note. HAMR technology will not only allow Seagate to increase its HDD capacity points but will also serve as a cost reduction to mid to lower-capacity HDDs, the firm added.
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