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Seagate (STX +3.1%) and Western Digital (WDC +4.1%) pop after receiving upgrades to Buy from...

Seagate (STX +3.1%) and Western Digital (WDC +4.1%) pop after receiving upgrades to Buy from Craig-Hallum. The firm cites hard drive inventory reductions and lower expectations, and a lack of pricing changes. Judging by their current valuations, investor expectations for STX and WDC are definitely quite low. JPMorgan downgraded Seagate last week, while Barron's named both companies to its list of top 10 picks for 2013. Hard drive controller supplier Marvell (MRVL +1.9%) is also up.
Comments (2)
  • SA Editor Samir Patel
    , contributor
    Comments (163) | Send Message
     
    I've owned STX since summer; the stock price is largely sentiment-driven and extremely volatile. Nonetheless, at the current valuations, a lot of the downside scenarios (lower prices, shrinking hard drive demand) seem to be priced in.
    19 Dec 2012, 11:21 AM Reply Like
  • timestacker
    , contributor
    Comments (88) | Send Message
     
    STX: And with a dividend of 5.1% it doesn't get any better.
    19 Dec 2012, 01:08 PM Reply Like
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