We recently published 13 Stocks Jim Cramer Commented On.  Seagate Technology Holdings plc (NASDAQ:STX) is one of the stocks Jim Cramer commanded on.

Storage devices manufacturer Seagate Technology Holdings plc (NASDAQ:STX)’s shares are among the top performers in the market.  The shares are up by 256% over the past year and by 28% year-to-date. Several analysts discussed Seagate Technology Holdings plc (NASDAQ:STX) in January. For instance, BofA increased the share price target to $400 from $320 and kept a Buy rating on the shares. According to the bank, Seagate Technology Holdings plc (NASDAQ:STX) can beat analyst estimates for its upcoming earnings report. One key catalyst for the company, according to BofA, is its heat-assisted recording memory, as the bank commented that Seagate Technology Holdings plc (NASDAQ:STX) can continue to grow its list of customers for these products. Similarly, Rosenblatt increased the share price target to $370 from $270 and kept a Buy rating on the stock. The financial firm remarked that Seagate Technology Holdings plc (NASDAQ:STX) could benefit from all-around strong demand for high-density memory devices:

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“Okay, so, here’s the ones that have a shortage that can’t be met. . .Seagate. . .Those stocks are up . . .25[%]. . .this is from the year began.”

While we acknowledge the potential of STX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.