Initially hammered after missing FQ4 forecasts and guiding FQ1 below consensus, Seagate (STX...


Initially hammered after missing FQ4 forecasts and guiding FQ1 below consensus, Seagate (STX +0.3%) has turned positive. A P/E of less than 5 can do that for you. During its earnings call, Seagate said it wants to lower its share count to 250M from a current 427M by the end of 2014, but also struck a cautious tone about near-term PC demand. Needham (Strong Buy) is optimistic things will improve by December, and notes Seagate is maintaining its year-end revenue/margin guidance. WDC +0.1%.

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  • Micah
    , contributor
    Comments (498) | Send Message
     
    This is what value investing is all about. The company is dirt cheap and is signaling great things ahead by increasing their dividend by 28% and promising to buyback over 41% of its outstanding shares!

     

    I challenge anyone to find a more shareholder-friendly stock than $STX in the market today.
    31 Jul 2012, 06:12 PM Reply Like
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