STX - News and Analysis - Seagate Technology

Quote & Analysis Breaking News StockTalk

Today 5d 1m 3m 1y 5y 10y

52wk high:

52wk low:

EPS:

PE (ttm):

Div Rate:

Yield:

Market Cap:

Volume:

7,304 people get STX breaking news and analysis by email alert.

Get email alerts on STX »

FOCUS | RELATED | TRANSCRIPTS | OTHER NEWS & PR

Seagate's Surveillance Drives Could Provide Near-Term Benefit
Trefis • Tue, Mar. 4 • 6 Comments
Do You Know How To Forecast Seagate's Future?
Valuentum • Tue, Feb. 25 • 1 Comment
Seagate: 4 Different Insiders Have Sold Shares This Year
Markus Aarnio • Thu, Feb. 13 • 6 Comments
Protecting Your Equity Portfolio For Less - Part III
K202 • Sun, Feb. 9 • 25 Comments
A Reason To Favor Western Digital Over Seagate
Paulo Santos • Thu, Feb. 6 • 26 Comments
Why Apple's And Seagate's Stocks Are Long-Term Investment Opportunities Right Now
Arie Goren • Tue, Feb. 4 • 6 Comments
Seagate May Be Overvalued
Bottom Up Investing • Wed, Jan. 29 • 9 Comments
Here's What The Buy Side Expects From Seagate Technology On Monday
Leigh Drogen • Mon, Jan. 27 • 2 Comments
Seagate's Xyratex Acquisition Targets The Enterprise Storage Hardware Segment
Trefis • Dec. 31, 2013 • 1 Comment
Seagate - Xyratex Deal Shows Seagate Is Serious About SSD
The Value Investor • Dec. 24, 2013 • 2 Comments
Seagate: Recuperating After An Earnings Miss
EurEx Consulting • Dec. 10, 2013 • 3 Comments
Seagate Remains A Weak Link In Electronic Storage
Bottom Up Investing • Dec. 9, 2013 • 3 Comments
How Seagate Is Offsetting PC Decline
Marsha Robe • Nov. 25, 2013 • 6 Comments
Seagate: Share Repurchases To Offset Revenue Headwinds
Bottom Up Investing • Oct. 19, 2013 • 7 Comments
Western Digital And Seagate: The Tablet Sweet Spot
Jonathan Fishman • Oct. 10, 2013 • 25 Comments
Will Seagate Continue This Upward Streak?
Fusion Research • Oct. 2, 2013 • 5 Comments
Seagate For Great Income And Upside
Matthew Frankel • Sep. 30, 2013 • 6 Comments
2 Winners In A Difficult Industry, Which Is Still A Buy?
Top Economic Articles • Sep. 23, 2013
Seagate Is Fairly Valued: Buy On Dips
Bottom Up Investing • Aug. 13, 2013 • 5 Comments
Seagate Offers Dividend And Potential 2x Upside
William Meyers • Aug. 6, 2013 • 6 Comments

5 Top Rated Dividend-Paying Stocks For March
Dividend Stocks Online • Tue, Mar. 4
6 Nasdaq Dogs Chase 11% To 78% February Upsides
Fredrik Arnold • Fri, Feb. 28 • 5 Comments
Value Investing In Volatile Times
Henry Wolfe • Tue, Feb. 25 • 6 Comments
The Private Market Value Strategy: Part 2 - Cheap Cash Flow
Philip Mause • Tue, Feb. 18 • 2 Comments
Symantec 22% Upside Tops NASDAQ Late January Dogs
Fredrik Arnold • Thu, Feb. 13 • 5 Comments
10 Reasons To Buy These 3 Stocks
Marwood Capital • Tue, Feb. 11 • 2 Comments
Top 10 Net Payout Yield Stocks For February 2014
Stone Fox Capital • Tue, Feb. 11
Apple Mostly Just An Overvalued Hardware Stock; New Catalysts Needed
Pinnacle One Research • Tue, Feb. 4 • 107 Comments
Earnings Still Matter
George Acs • Fri, Jan. 31 • 19 Comments
Cramer's Lightning Round - Archer Daniels Midland Is Much Ado About Nothing (1/30/14)
SA Editor Miriam Metzinger • Fri, Jan. 31 • 1 Comment
Are There Any Deals To Be Had In This Pullback For Dividend Stocks?
On2Freedom • Wed, Jan. 29 • 14 Comments
Cramer's Mad Money - Lumpy Versus Linear (1/28/14)
SA Editor Miriam Metzinger • Wed, Jan. 29 • 1 Comment
Will Flash Memory Spell The End Of The Hard Disk Drive (HDD) Industry?
Robert Castellano • Tue, Jan. 28 • 12 Comments
What A Surprise
George Acs • Sun, Jan. 26 • 16 Comments
Earnings Finally Matter
George Acs • Sat, Jan. 25 • 38 Comments
Cramer's Mad Money - 10 Trends Moving Stocks (1/21/14)
SA Editor Miriam Metzinger • Wed, Jan. 22 • 1 Comment
Dividend Portfolio For The Strong Stomached: Q3 2013 Update
Philip Riekenberg • Sat, Jan. 11 • 5 Comments
Big Dividends, Small P/Es: Tech Stocks Evaluated
YCharts • Thu, Jan. 9 • 1 Comment
Top 10 Net Payout Yield Stocks For January 2014
Stone Fox Capital • Thu, Jan. 9 • 6 Comments
Ashraf Eassa Positions For 2014: Take Advantage Of Cyclicality In Technology
Ashraf Eassa • Thu, Jan. 9 • 37 Comments

Seagate Technology Management Presents at Morgan Stanley Technology, Media & Telecom Conference (Transcript)
Mon, Mar. 3
Seagate Technology's CEO Discusses F2Q 2014 Results - Earnings Call Transcript
Mon, Jan. 27 • 1 Comment
Q2 2014 Seagate Technology Earnings Conference call (Webcast)
Mon, Jan. 27
Seagate Technology's CEO Discusses F1Q 2014 Results - Earnings Call Transcript
Oct. 28, 2013 • 4 Comments
Seagate Technology Discusses Q1 2013 Results (Webcast)
Oct. 28, 2013
Seagate Technology PLC (STX) CEO Discusses F4Q 2013 Results - Earnings Call Transcript
Jul. 24, 2013
Seagate Technology's CEO Discusses F3Q 2013 Results - Earnings Call Transcript
May. 1, 2013
Seagate Technology's CEO Discusses F2Q13 Results - Earnings Call Transcript
Jan. 28, 2013 • 1 Comment
Seagate Technology Public Limited Management Discusses Q1 2013 Results - Earnings Call Transcript
Oct. 31, 2012
Seagate Technology PLC Management Discusses Q4 2012 Results - Earnings Call Transcript
Jul. 30, 2012
Seagate Technology PLC's CEO Discusses Q3 2012 Results - Earnings Call Transcript
Apr. 17, 2012
Seagate Technology PLC's CEO Discusses Q2 2012 Results - Earnings Call Transcript
Jan. 31, 2012
Seagate Technology PLC's CEO Discusses Q1 2012 Results - Earnings Call Transcript
Oct. 20, 2011 • 1 Comment
Seagate Technology PLC's CEO Discusses Q4 2011 Results - Earnings Call Transcript
Jul. 20, 2011
Seagate Technology PLC's CEO Discusses Q3 2011 Results - Earnings Call Transcript
Apr. 19, 2011
Seagate Technology PLC's CEO Discusses Q2 2011 Results - Earnings Call Transcript
Jan. 19, 2011
Seagate Technology PLC F1Q2011 Results - Earnings Call Transcript
Oct. 20, 2010
Seagate Technology F4Q10 (Qtr End 07/02/10) Earnings Call Transcript
Jul. 20, 2010
Seagate Technology F3Q10 (Qtr End 04/02/10) Earnings Call Transcript
Apr. 21, 2010
Seagate Technology F2Q10 (Qtr End 01/01/10) Earnings Call Transcript
Jan. 20, 2010

Movers & Shakers: Staples awash in red; eBay up as Icahn posts new letter

at MarketWatch.com (Thu, 4:09PM)
Seagate to Participate in the Morgan Stanley Technology, Media & Telecom Conference

Business Wire (Feb 24, 2014)
Jamie Lerner to Join Seagate as President of Cloud Systems and Solutions

Business Wire (Feb 24, 2014)
Seagate Targets Video Analytics Applications with Seventh-Generation Surveillance Hard Disk Drive

Business Wire (Feb 24, 2014)
Early movers: HPQ, UA, PCLN, WFM, GRPN, JPM & more

at CNBC.com (Feb 21, 2014)
Seagate to Participate in the Stifel Technology, Internet & Media Conference

Business Wire (Feb 3, 2014)
Lightning Round: Altria, Gogo & More

at CNBC.com (Jan 30, 2014)
Movers & Shakers: Yahoo down on ad revenue; Facebook red ahead of results

at MarketWatch.com (Jan 29, 2014)
Like gravy, lumpy stocks just don't appeal

at CNBC.com (Jan 28, 2014)
Earnings Watch: Updates, advisories and surprises

at MarketWatch.com (Jan 28, 2014)
Market Snapshot: U.S. stocks rise; Dow breaks 5-day skid

at MarketWatch.com (Jan 28, 2014)
Tech Stocks: Apple gives worst performance in a year

at MarketWatch.com (Jan 28, 2014)
Movers & Shakers: Apple sees worst day in a year; Casablanca lifts Cliffs

at MarketWatch.com (Jan 28, 2014)
Seagate Contributes to Open Source Community by Unveiling New Development Tools for Kinetic Platform at Open Compute Project Summit V

Business Wire (Jan 28, 2014)
Indications: U.S. stock futures pare gains; Apple weighs on tech

at MarketWatch.com (Jan 28, 2014)
Early movers: F, AAPL, DD, CMCSA, CLF, PFE & more

at CNBC.com (Jan 28, 2014)
Stocks to Watch: Apple, Ford, Yahoo are Tuesday’s stocks to watch

at MarketWatch.com (Jan 28, 2014)
After Hours: Apple shares fall on light outlook, iPhone sales

at MarketWatch.com (Jan 27, 2014)
The Wall Street Journal: Seagate shares tumble on earnings miss

at MarketWatch.com (Jan 27, 2014)
Seagate Technology Reports Fiscal Second Quarter 2014 Financial Results

Business Wire (Jan 27, 2014)

OTHER NEWS

Movers & Shakers: Staples awash in red; eBay up as Icahn posts new letter

at MarketWatch.com (Thu, 4:09PM)
Early movers: HPQ, UA, PCLN, WFM, GRPN, JPM & more

at CNBC.com (Feb 21, 2014)
Lightning Round: Altria, Gogo & More

at CNBC.com (Jan 30, 2014)
Movers & Shakers: Yahoo down on ad revenue; Facebook red ahead of results

at MarketWatch.com (Jan 29, 2014)
Like gravy, lumpy stocks just don't appeal

at CNBC.com (Jan 28, 2014)

STX vs. ETF Alternatives

Company Description

Seagate Technology PLC is a provider of electronic data storage products. Its main products are hard disk drives, commonly referred to as disk drives, hard drives or HDDs.

Sector: Technology

Industry: Data Storage Devices

Country: United States

All
| Earnings
| Dividends
| M&A
| On the move

Friday, Mar 7
5:52 PM
Storage industry returns to growth; EMC takes share from IBM
- After falling 3.5% Y/Y in Q3, external disk storage system sales rose 2.4% in Q4, says IDC. The growth came even though sales of the servers that interact with these systems fell an estimated 4.4%.
- Total disk storage sales, which include storage subsystems found within servers, rose 1.3% in Q4 after dropping 5.6% in Q3. IDC attributes the turnaround to "traditional year-end budget flushes, improved economic sentiment, and a strong desire to address long-standing storage infrastructure inefficiencies."
- Market leader EMC, which posted strong Q4 numbers to go with light guidance, saw its external disk share rise 220 bps Y/Y to 32.9%, and its total disk share rise 200 bps to 25.8%. The gains largely came at the expense of restructuring IBM, whose shares respectively fell 190 bps and 200 bps to 13% and 14%.
- H-P's (HPQ) external disk share rose 30 bps to 9.6%, and its total disk share 40 bps to 16.3%. NetApp (NTAP), which delivered nearly in-line revenue and soft guidance last month, saw its external share fall 10 bps to 11.5%, and its total share stay flat at 9%. Private Dell's total share fell 140 bps to 9.9%.
- Hard drive/assembly suppliers: STX, WDC, HTCH
|
Friday, Mar 7
5:52 PM
| 3 Comments
Friday, Feb 21
9:47 AM
Tech ratings changes: Seagate, ON Semi, Freescale, Montage
- Seagate (STX +3.3%) has been upgraded to Outperform by RBC.
- ON Semi (ONNN +1%) and Freescale (FSL +1.5%) have been started at Buy by Drexel Hamilton.
- Montage Technology (MONT +0.3%) has been cut to Market Perfrorm by Raymond James, and to Equalweight by Barclays, a day after posting a Q4 beat.
- Telecom New Zealand (NZTCY -0.5%) has been upgraded to Neutral by Citi.
|
Friday, Feb 21
9:47 AM
| Comment!
Tuesday, Jan 28
12:45 PM
Midday Gainers / Losers
- Top 10 Gainers: BGMD +28%. RCON +21%. LTRX +20%. WBAI +18%. OGEN +17%. CBM +16%. KRA +16%. DL +15%. AKS +16%. SCLN +15%.
- Top 10 Losers: RCII -20%. KOOL -13%. VIP -12%. STX -12%. ATE -11%. LIVE -10%. IFON -10%. PDEX -10%. CHEF -8%. HIMX -8%.
|
Tuesday, Jan 28
12:45 PM
| Comment!
Tuesday, Jan 28
9:10 AM
Premarket Gainers / Losers
- Gainers: TXMD +20%. CLF +14%. SANM +13%. ORMP +11%. AKS +8%. OSK +6%. CTIC +6%. ADMP +6%.
- Losers: RCII -16%. LIVE -13%. ATAX -7%. AAPL -7%. TTS -7%. CRUS -6%. GLW -5%. STX -5%. HIMX -5%
|
Tuesday, Jan 28
9:10 AM
| 2 Comments
Monday, Jan 27
6:07 PM
Seagate -6.3% AH on FQ2 miss, soft guidance; Western Digital -0.8%
- In addition to missing FQ2 estimates, Seagate (STX) has guided on its CC for FQ3 revenue of "at least" $3.4B; that compares unfavorably with a consensus of $3.46B.
- Seagate estimates the total addressable market (TAM) for hard drives stood at 142M (same as Western Digital) in the December quarter, up by 2M Q/Q and 6M Y/Y. The company estimates its share was 40%, flat Q/Q but down from 43% a year ago.
- FQ2 gross margin was 28%, flat Q/Q and up 100 bps Y/Y. $1.5B was spent on buybacks, thanks to the Samsung deal.
- Enterprise shipments (higher-margin) +7% to 7.8M, desktops -12% to 19.2M, notebooks -2% to 16.9M, consumer electronics +20% to 6.7M, branded drives (also higher-margin) +3% to 6.2M.
- Western Digital (WDC) is ticking lower in sympathy with Seagate. The shoe was on the other foot last week.
- Seagate's earnings slides
|
Monday, Jan 27
6:07 PM
| Comment!
Monday, Jan 27
5:40 PM
After Hour Gainers / Losers
- Top gainers, as of 5:15 p.m.: YY +4.1%. UVXY +4.0%. MVG +3.6%. NIHD +3.0%. LMCA +2.6%.
- Top losers, as of 5:15 p.m.: AAPL -8.9%. OLN -8.1%. ATAX -6.8%. CRUS -5.7%. STX -4.6%.
|
Monday, Jan 27
5:40 PM
| 5 Comments
Monday, Jan 27
4:02 PM
Seagate Technology misses by $0.07, misses on revenue
- Seagate Technology (STX): FQ2 EPS of $1.32 misses by $0.07.
- Revenue of $3.53B (-3.8% Y/Y) misses by $30M.
- Shares -2.6%.
- Press Release
|
Monday, Jan 27
4:02 PM
| Comment!
Monday, Jan 27
12:10 AM
Notable earnings after Monday’s close
- AAPL, ASH, CMRE, CR, GGG, OLN, PCL, RCII, RMBS, SANM, SIMO,STLD, STM, STX, SWFT, X, ZION
|
Monday, Jan 27
12:10 AM
| 3 Comments
Sunday, Jan 26
5:35 PM
Notable earnings after Monday’s close
- AAPL, ASH, CMRE, CR, GGG, OLN, PCL, RCII, RMBS, SANM, SIMO,STLD, STM, STX, SWFT, X, ZION
|
Sunday, Jan 26
5:35 PM
| 4 Comments
Wednesday, Jan 22
6:22 PM
Western Digital lower on soft guidance, Seagate, Marvell off in sympathy
- Though it beat FQ2 (Dec. quarter) estimates, Western Digital (WDC) has guided on its CC for FQ3 revenue of $3.65B-$3.75B and EPS of $1.80-$1.90, mostly below a consensus of $3.73B and $1.95. The company blames a seasonally weaker hard drive market and lower factory utilization.
- Western is down 2% AH. Archrival Seagate (STX), which reports on Monday, is down 2.1%, as is hard drive/SSD controller supplier Marvell (MRVL).
- Western estimates the total addressable market (TAM) for hard drives was 142M in FQ2; that's slightly above guidance for TAM to be roughly flat with an FQ1 level of 139M. Gaming was an area of strength, no doubt thanks to the Xbox One/PS4 launches.
- FQ2 gross margin was 30.1%, +30 bps Q/Q and +140 bps Y/Y, and slightly better than guidance. FQ3 gross margin is expected to be near the midpoint of Western's 27%-32% model range (implies 29.5%).
- $150M was spent on buybacks, and 54% of revenue came from non-PC applications. ASP rose by $2 Q/Q to $60, thanks to a stronger mix of branded drive and distributor sales.
- FQ2 results, PR, prepared remarks, datasheet
|
Wednesday, Jan 22
6:22 PM
| 1 Comment
Tuesday, Jan 21
9:57 AM
Tech ratings change roundup: 3D Systems, Seagate, SolarCity, SanDisk
- 3D Systems (DDD -3%) has been cut to Neutral by Credit Suisse.
- Seagate (STX +2.1%) has been upgraded to Overweight by Morgan Stanley, and rival Western Digital (WDC +0.5%) has been upgraded to Outperform by BMO. Wesern reports tomorrow, and Seagate on Jan. 27.
- SolarCity (SCTY -3.3%) has been cut to Neutral by JPMorgan. Deutsche started shares at Buy last week.
- SanDisk (SNDK -2.3%) has been cut to Neutral by BofA/Merrill. Q4 results arrive tomorrow.
- NetApp (NTAP +2.2%) has been upgraded to Buy by Lake Street Capital.
- InvenSense (INVN -2.8%) has been cut to Hold by Needham.
- FireEye (FEYE -3.7%) has been cut to Neutral by JPMorgan following a huge run-up in the wake of the Mandiant deal and the company's guidance hike.
- Altera (ALTR +2.8%) has been upgraded to Overweight by JPMorgan ahead of Wednesday's Q4 report.
- Tibco (TIBX -2.4%) has been cut to Neutral by Wedbush. Shares rallied last week on a report suggesting Dan Loeb is set to make an activist push.
- NetSuite (N +1.1%) has been upgraded to Buy by Maxim.
- Violin Memory (VMEM -3.7%) has been cut to Underweight by Barclays.
- Motorola Solutions (MSI +1.8%) has been upgraded to Buy by Citi.
- LG Display (LPL +3.2%) has been upgraded to Buy by BofA/Merrill.
|
Tuesday, Jan 21
9:57 AM
| 3 Comments
Tuesday, Jan 14
1:54 PM
Seagate, Western Digital outperform after Hutchinson posts strong sales
- Seagate (STX +3.1%) and Western Digital (WDC +3.3%) are both up sharply after leading hard drive suspension assembly supplier Hutchinson (HTCH +13%) reported preliminary Dec. quarter sales that soundly beat consensus estimates, and did so on the back of 13% Q/Q and 12% Y/Y assembly shipment growth.
- Storage hardware vendor Quantum's guidance hike might be helping the hard drive kingpins as well.
- Noble Financial observes Hutchinson's Q/Q shipment growth (attributed to strong demand for 2.5" notebook drives) is "welcome news" given Seagate/Western had guided for roughly flat industry hard drive shipments for the Dec. quarter.
- The firm is reiterating a Buy on Hutchinson, but also thinks the company needs to ship 130M assemblies/quarter (up from a Dec. quarter level of 115.7M) to break even.
- Western reports on Jan. 22, and Seagate on Jan. 27.
|
Tuesday, Jan 14
1:54 PM
| Comment!
Thursday, Jan 9
5:58 PM
PC shipment declines narrow further in Q4; Lenovo and Dell take share
- IDC and Gartner respectively estimate PC shipments fell 5.6% and 6.9% Y/Y in Q4. Those numbers represent improvements from estimated Q3 declines of 7.6% and 8.6%. For the full year, both firms think shipments dropped 10% (to 315M and 316M, respectively).
- Gartner thinks U.S. PC sales (outperformed in Q3) have bottomed, but nonetheless estimates they fell 7.5%, and states "consumer spending during the holidays did not come back to PCs as tablets were one of the hottest holiday items."
- IDC thinks U.S. shipments only fell 1.6%, thanks to healthy enterprise demand. EMEA and much of Asia-Pac remained weak, but Japan delivered positive growth. The U.S. and Japan have higher ASPs and lower piracy rates than many emerging markets.
- Lenovo (LNVGY) added to its market lead in Q4: IDC assigns the company an 18.6% share (+250 bps Y/Y). #2 H-P, which performed well in its October quarter, is given a 16.8% share (-50 bps); both IDC and Gartner think H-P's U.S. sales were weak. #3 Dell, which has been cutting prices to gain share, is given a 12.2% share (+130 bps).
- H-P and Lenovo have each rolled out a slew of new Windows and Android notebooks, tablets, and convertibles at CES. Lenovo's pricing has arguably been more aggressive than H-P's.
- Other PC industry names: MSFT, INTC, AMD, NVDA, MU, STX, WDC.
|
Thursday, Jan 9
5:58 PM
| 32 Comments
Monday, Dec 23
2013, 6:48 PM
Seagate/Xyratex seen stressing OEM deals, benefiting Teradyne
- With Xyratex's storage subsystem business both a supplier and a rival to the storage OEMs who account for a large chunk of Seagate's (STX) enterprise hard drive sales, analysts note Seagate's pending acquisition of Xyratex brings both cross-selling opportunities and channel conflict risks.
- BMO suspects Seagate hopes to use Xyratex (presumably via its ClusterStor line) to directly supply Web/cloud providers, but also notes Seagate "will now compete against a set of customers." The Register's Chris Mellor: "Western Digital (WDC) and Toshiba ... should pick up some extra [hard drive] business from OEMs displeased by Seagate competing with its own channel."
- Piper, however, likes how Xyratex's hard drive equipment unit could lower Seagate's hard drive testing times and capex. It also observes Xyratex claims IBM, H-P, NetApp, and Dell as clients, even if it competes with them to an extent.
- Wells Fargo likes the deal, but also thinks Seagate may still need to make some flash storage acquisitions. Western Digital has been more aggressive here, snapping up server flash module vendor Virident and module/SSD supplier sTec.
- Deutsche, meanwhile, expects Teradyne's (TER) hard drive test equipment sales to get a boost as Western Digital and Toshiba stop buying test equipment from Xyratex.
|
Monday, Dec 23
2013, 6:48 PM
| Comment!
Monday, Dec 23
2013, 9:25 AM
Seagate acquiring Xyratex for $13.25/share
- Seagate (STX) is acquiring hard drive equipment/storage subsystem maker Xyratex (XRTX) for $13.25/share, or $294M if excluding $80M in cash on hand. The price represents a 27% premium to Xyratex's Friday close. (PR)
- By acquiring Xyratex, which has counted Seagate, Western Digital (WDC), and Toshiba among its clients (the latter two might now now turn to other suppliers), Seagate is vertically integrating in an effort to gain a manufacturing edge. The purchase comes shortly after Western beat Seagate to the punch in shipping helium drives (they're lighter, denser, and more power-efficient than conventional drives), a technology long promoted by Xyratex.
- The deal also increases Seagate's enterprise storage exposure. As SA Pro contributor Kingsley Park Capital has noted, Xyratex, historically focused on relatively low-end solutions, recently launched ClusterStor, a solution aimed at the growing, higher-margin HPC storage market.
- Seagate expects the purchase to contribute $500M-$600M to FY15 (ends June '15) revenue, and to be neutral to FY15 EPS. The deal is expected to close by mid-2014. Activist investor Baker Street Capital, which has a large stake in Xyratex, backs the deal.
|
Monday, Dec 23
2013, 9:25 AM
| 5 Comments
Friday, Dec 20
2013, 11:44 AM
Seagate rallies, Western Digital ticks higher following PT hikes
- Brean's Ananda Baruah has raised his Seagate (STX +4.1%) PT to $70 from $55, and his Western Digital (WDC +0.9%) PT to $125 from $85, while reiterating Buys for both names. The PT hikes come shortly after the hard drive giants respectively received upgrades to Overweight and Buy from JPMorgan and Citi.
- With industry consolidation keeping pricing healthy, Baruah thinks Seagate/Western can deliver 100-200 bps of gross margin improvement over the next few years, and perhaps 400-500 of improvement within 5-7 years.
- That, in turn, leads him to forecast Seagate and Western willrespectively deliver $7+ and $8.64 in calendar 2015 EPS. He add cost savings obtained from integrating Hitachi's hard drive unit could boost Western's EPS by another ~$1.70. For reference, Seagate's current FY15 (ends June '15) EPS consensus is at $5.96, and Western's is at $8.59.
- Seagate has made new 52-week highs, and Western is close to its 52-week high of $84.70.
|
Friday, Dec 20
2013, 11:44 AM
| Comment!

SWHCburst:
He predicted the move on $FB, HIMX, $LGF, $STX. Next one released tonight at http://mbsy.co/VrV3.
14 hours ago
Reply

• !Report Abuse
View all 0 replies
Add a reply...

140 characters

stocklobster:
Any idea why $STX is down this much today?
Thu, 12:35 PM
Reply (4)

• !Report Abuse
View all 4 replies
jumpnjoey77:: Maybe because they are 15% in less than a month while $STX is flat lined.
Thu, 2:17 PM
• !Report Abuse
jumpnjoey77:: Up 30% in 3 months - $STX negative.
Thu, 2:18 PM
• !Report Abuse
Add a reply...

140 characters

jumpnjoey77:
Bought $STX @$50.00.
Thu, 11:27 AM
Reply

• !Report Abuse
View all 0 replies
Add a reply...

140 characters

Trefis:
Seagate's Surveillance Drives Could Provide Near-Term Benefit $STX http://seekingalpha.com/a/18bbr
Tue, 6:40 PM
Reply

• !Report Abuse
View all 0 replies
Add a reply...

140 characters

Valuentum:
Do You Know How To Forecast Seagate's Future? $STX http://seekingalpha.com/a/17uv9
Feb 25, 11:21 AM
Reply (1)

• !Report Abuse
View all 1 replies
Ocean Man:: One must properly account for the curse of the Solyndra campus.
Feb 25, 11:45 PM
• !Report Abuse
Add a reply...

140 characters

jamonchan:
$STX
Feb 18, 4:08 PM
Reply

• !Report Abuse
View all 0 replies
Add a reply...

140 characters

Markus Aarnio:
Seagate: 4 Different Insiders Have Sold Shares This Year $STX http://seekingalpha.com/a/17913
Feb 13, 9:24 AM
Reply

• !Report Abuse
View all 0 replies
Add a reply...

140 characters

K202:
Protecting Your Equity Portfolio For Less - Part III $STX http://seekingalpha.com/a/16zr7
Feb 9, 12:27 AM
Reply

• !Report Abuse
View all 0 replies
Add a reply...

140 characters

Paulo Santos:
A Reason To Favor Western Digital Over Seagate $WDC, $STX http://seekingalpha.com/a/16tvt
Feb 6, 5:23 AM
Reply

• !Report Abuse
View all 0 replies
Add a reply...

140 characters

Arie Goren:
Why Apple's And Seagate's Stocks Are Long-Term Investment Opportunities Right Now $AAPL, $STX http://seekingalpha.com/a/16okz
Feb 4, 10:17 AM
Reply

• !Report Abuse
View all 0 replies
Add a reply...

140 characters

STX Seagate Technology - NASDAQ

STX

Seagate Technology - NASDAQ