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

|About: Seagate Technology (STX)|By:, SA News Editor

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%.