Seagate: Now Is Not The Time

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About: Seagate Technology plc (STX)
by: Long Term Insights
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Long Term Insights
Long/short equity, research analyst, portfolio strategy, value
Summary

The current price-to-book value is high in light of the market conditions.

A multitude of factors are affecting the firm and its stock price.

Leverage is under control, and guidance is downplayed.

We should wait before we rush in just because the price is low.

Seagate (NASDAQ:STX) wouldn't be a bad buy under a price-to-book value at or under 3x with the same margin and performance stats. That's not the case right now because it is trading at