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STEC, Inc. (STEC)

- NASDAQ
STEC is defunct.
  • Jun. 24, 2013, 8:06 AM
    Western Digital (WDC) buys STEC (STEC) for $6.85 per share in a deal with an enterprise value of close to $207M. The deal to acquire the solid-state drive maker is expected to close in Q4.
    | Jun. 24, 2013, 8:06 AM | Comment!
  • Dec. 6, 2012, 2:23 PM
    STEC (STEC +1.4%) is up a bit after activist investor Balch Hill, which owns 9% of the struggling solid-state drive vendor, delivers a letter to STEC's board arguing the company should consider a sale. Balch Hill also calls on STEC, which is dealing with the fallout from insider trading charges against its founder and former CEO, to slash its R&D budget and focus on its core serial-attached SCSI (SAS) product line.
    | Dec. 6, 2012, 2:23 PM | 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
  • 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, 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!
  • 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!
  • Mar. 23, 2012, 2:48 PM
    Enterprise flash memory hardware vendors Fusion-io (FIO +3.7%) and STEC (STEC +3.2%) are rallying, possibly thanks to a Goldman report mentioning them as takeover candidates. Each company has already seen its share of M&A speculation (I, II).
    | Mar. 23, 2012, 2:48 PM | Comment!
  • Jul. 29, 2011, 10:51 AM
    With shares down 39.5% following weak Q2 results and disappointing guidance, and the company also facing an SEC investigation and ongoing customer concentration issues, Gleacher & Co. asks if it's time to take STEC private. Another option could be for STEC to be sold to STX or WDC, who could use the firm to bolster their solid-state drive businesses.
    | Jul. 29, 2011, 10:51 AM | 1 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