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Seagate - Lots Of Upside From Here, Buy Now


  • Seagate is a strong buy as we expect the demand-supply dynamic for the HDD industry to be more favorable in 2H22.
  • We see the demand for large-cap HDD in the cloud data center to accelerate in 2H22.
  • We also see a healthier pricing environment and a more favorable product mix for the large-cap HDD market in the 2H22.
  • We believe the decline in demand for its legacy products is now de-risked and expect the decline in this market to moderate further towards 2H22.
  • Recent earnings were less than stellar, while STX maneuvers supply chain issues from China's lockdown and outgrows its reliance on Chia crypto.

Seagate, the Fremont Research Center building Silicon Valley

Sundry Photography/iStock Editorial via Getty Images

Seagate (NASDAQ:STX) is one of the oldest companies in the storage game, and while its age does not give it precedent to be a "buy," its experience, manufacturing prowess and laser focus on large-capacity Hard Disk Drives

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Tech Stock Pros is a team of three former technology sector engineers with a long history of investing in the tech sector.

They run Tech Contrarians, an investing group providing institutional-level company research to individual investors. Utilizing a live portfolio with quarterly updates, bi-weekly newsletters, and answering questions daily via chat, Tech Stock Pros aims to demystify investing in the technology sector. Learn more.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in STX over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (2)

farmed out profile picture
Very good total return stock; underpriced and a good dividend while you wait.
STX is also dishing out 70 cents per share every quarter in dividend. That's $2.80 a year and at $81, its about ~3.5% yield. That's pretty good for a company that is growing as well. They are also returning back to investors by buying back shares every quarter.
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