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STEC, Inc. (STEC)

- NASDAQ
STEC is defunct.
  • Sep. 17, 2012, 4:45 PM
    OCZ has resumed trading. Shares are down 8.5% to $4.08 in response to news of CEO Ryan Peterson's resignation, and within striking distance of their 52-week low of $3.90. STEC and other rivals could benefit from OCZ's management turmoil.
    | Sep. 17, 2012, 4:45 PM | 4 Comments
  • Sep. 5, 2012, 5:29 PM
    OCZ Technology (OCZ) has resumed trading following its FQ2 warning. Shares are down 17.7% AH to $4.41, putting them within striking distance of their 52-week low of $4.14. Rival STEC could also move in trading tomorrow.
    | Sep. 5, 2012, 5:29 PM | Comment!
  • Aug. 21, 2012, 10:04 AM
    Marvel (MRVL) and SanDisk (SNDK), rivals in the solid-state drive (SSD) controller space, are partnering to offer a low-power server solution that features an ARM-based Marvell processor and a SanDisk SSD. Marvell is aggressively targeting the young ARM server market, and has already reached deals with Dell and Taiwan's MiTAC. Also: Marvell is announcing the general availability of its praised DragonFly flash caching solution, which competes with offerings from FIO, STEC, and others. (NTAP/FIO)
    | Aug. 21, 2012, 10:04 AM | Comment!
  • Aug. 16, 2012, 9:32 AM
    IBM is acquiring Texas Memory Systems (TMS), a maker of high-end flash memory hardware, for an undisclosed sum. TMS offers standalone systems that compete with Violin Memory and EMC-acquired XtremIO, and PCI-Express modules for servers that compete with solutions from Fusion-io (FIO), STEC, and OCZ Technology (OCZ +2.9%). The deal is an attempt by IBM to invigorate a storage business that has been seeing declining sales.
    | Aug. 16, 2012, 9:32 AM | 1 Comment
  • Aug. 7, 2012, 4:35 PM
    More on STEC's Q2: Gross margin was 37.2%, down 770 bps Y/Y and up 80 bps Q/Q. The company expects Q3 revenue of $40M-$42M and EPS of -$0.27 to -$0.31, worse than a consensus of $49.5M and -$0.19. STEC suggests weak OEM demand is to blame (a similar excuse was provided 3 months ago). It also forecasts the settlement of a class action suit related to an '09 stock offering that has led to SEC charges will cost $34M-$36M. STEC -8.9% AH. FIO -1.9%. (PR)
    | Aug. 7, 2012, 4:35 PM | Comment!
  • Aug. 7, 2012, 4:20 PM
    STEC (STEC): Q2 EPS of -$0.27 misses by $0.01. Revenue of $40.7M (-50.7% Y/Y) in-line. Shares -8.9% AH. (PR)
    | Aug. 7, 2012, 4:20 PM | Comment!
  • Aug. 7, 2012, 12:10 AM
    Notable earnings after Tuesday’s close: ANV, AONE, ARRY, ATLS, BID, CODI, CREE, DIS, DPM, ENOC, ESRX, ETE, ETP, EXM, GPOR, JAZZ, JIVE, MIPS, PCLN, PRI, RAX, SAPE, STEC, VVUS, WFR, WR, XL, Z
    | Aug. 7, 2012, 12:10 AM | Comment!
  • Aug. 6, 2012, 5:35 PM
    Notable earnings after Tuesday’s close: ANV, AONE, ARRY, ATLS, BID, CODI, CREE, DIS, DPM, ENOC, ESRX, ETE, ETP, EXM, GPOR, JAZZ, JIVE, MIPS, PCLN, PRI, RAX, SAPE, STEC, VVUS, WFR, WR, XL, Z
    | Aug. 6, 2012, 5:35 PM | 1 Comment
  • Jul. 31, 2012, 9:37 AM
    OCZ Technology (OCZ -11%) dives after Seagate's (STX -3.2%) FQ4 report comes and goes without the hard drive giant announcing it's acquiring the company, as multiple rumors (I, II) claim it will. Following the report, Seagate's CFO said his company is looking to buy a solid-state drive vendor, but one that has a significant share of the high-margin enterprise market. Though OCZ has an enterprise presence, rival STEC (STEC -1.2%) is a bigger player here.
    | Jul. 31, 2012, 9:37 AM | 3 Comments
  • Jul. 27, 2012, 6:23 PM
    OCZ Technology (OCZ +30.2%) +15.7% AH to $8.19, adding to the big gains it saw today on reports (I, II) Seagate (STX) is planning to buy the company at a price near $15/share. The question speculators are fighting over: is Seagate actually desperate enough to improve its solid-state drive (SSD) position (necessary given the long-term threat posed by SSDs) that it would pay a ~50% premium relative to OCZ's all-time high, in spite of many alternatives? STEC gained 6.9% on the day.
    | Jul. 27, 2012, 6:23 PM | 7 Comments
  • Jul. 27, 2012, 9:42 AM
    OCZ Technology (OCZ +25.2%) takes off on new rumors Seagate (STX -0.5%) is looking to buy the company (previous) to shore up its solid-state drive position. This time around, it's reported Seagate is offering to pay ~$1B - $475M-$550M in cash and $450M-$525M in stock - or more than twice what OCZ is worth even after today's move. Some clearly doubt Seagate would pay that much. Rival STEC is up 3.1% in sympathy.
    | Jul. 27, 2012, 9:42 AM | 2 Comments
  • Jul. 19, 2012, 7:04 PM
    STEC CEO Manouchechr Moshayedi has been charged with insider trading. The SEC alleges Moshayedi withheld information in '09 about an upcoming decline in orders from EMC in order to profit from a secondary offering, and struck a side deal with EMC to guarantee STEC's near-term guidance remained solid while the offering occurred. The SEC is seeking financial penalties, and wants Moshayedi barred from serving as an officer or director of any publicly-traded company. (PR)
    | Jul. 19, 2012, 7:04 PM | Comment!
  • Jul. 19, 2012, 10:08 AM
    OCZ Technology (OCZ +14.9%) soars on a report Seagate (STX -1.2%) is considering an acquisition of the company. Other companies are also said to be interested. Buying OCZ would strengthen Seagate's position in the solid-state drive (SSD) market, as SSDs steadily take share from hard drives. OCZ rival Fusion-io (FIO +5.5%), the subject of plenty of M&A rumors of its own, is also rallying, as is STEC (STEC +2.9%). OCZ is heavily shorted. (DensBits)
    | Jul. 19, 2012, 10:08 AM | Comment!
  • Jul. 11, 2012, 10:08 AM
    Investors show no mercy to OCZ Technology (OCZ -17.5%) for its FQ1 miss. The fact rivals STEC (STEC +2.5%) and Fusion-io (FIO +1.8%) are up suggests the Street thinks OCZ's problems are company-specific. FBN is downgrading OCZ, and doesn't think the company's explanation for the miss (a power regulator shortage) tells the whole story. Credit Suisse is also downgrading, citing worries about cash burn and a slow ramp for PCI Express hardware. (transcript)
    | Jul. 11, 2012, 10:08 AM | Comment!
  • Jul. 6, 2012, 2:19 PM
    Though solid-state drive (SSD) prices have plummeted recently, and hard drive prices have trekked higher due to supply shortages, the cost of 1GB of SSD capacity is still nearly 9x higher than the cost of 1GB of hard drive capacity. Hence Seagate (STX) and Western Digital (WDC) have little need to worry about SSDs killing off hard drives over the near-term. But the long-term could be a different story, especially given how Apple and others are rushing to embrace SSDs. (also)
    | Jul. 6, 2012, 2:19 PM | 1 Comment
  • Jun. 12, 2012, 2:14 PM
    SanDisk (SNDK +3.3%) pops on rumors it has hired Goldman Sachs to facilitate a sale. SanDisk sports a low valuation (1.7x estimated 2012 sales), but also carries a market cap of $8.7B, and operates in a capex-intensive business that's occasionally subject to massive price declines. OCZ Technology (OCZ +7.4%) and STEC (STEC +3.1%), which compete with SanDisk's solid-state drive business, are also rallying.
    | Jun. 12, 2012, 2:14 PM | Comment!
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Company Description
STEC, Inc. (including our subsidiaries, referred to collectively in this Report as “STEC”, “we”, “our” and “us”) is a leading global provider of enterprise-class Flash solid-state drives (“SSDs”) that are designed to increase the performance of enterprise-storage systems and servers that... More
Sector: Technology
Country: United States