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STX

Seagate

$33.17

0.19 (0.58%)

11:06
10/02/17
10/02
11:06
10/02/17
11:06

Technical View: Seagate rallies, analyst action

Shares were last up over 3.6% to $34.37. At that price next resistance is at $35.54. Support is at the $33.75 area. Craig-Hallum upgraded the shares to Buy and sharply raised its price target from $37 to $50.

STX Seagate
$33.17

0.19 (0.58%)

09/11/17
09/11/17
DOWNGRADE

Sector Perform
Seagate downgraded to Sector Perform on softenting HDD demand at FBN Securities
As previously reported, FBN Securities downgraded Seagate (STX) to Sector Perform from Outperform and lowered its price target to $32 from $40. Analyst Shebly Seyrafi said industry comments by HDD controller companies in August, weak channel checks, and pricing concerns lead him to believes current consensus estimates are too high and need to be lowered. The analyst notes Broadcom (AVGO) believes HDD strength is unsustainable and Marvell (MRVL) had a cautious view on HDD demand near-term. Further, the analyst said HDD channel checks have softened since early August and pricing is expected to soften noticeably by the end of the current quarter.
09/19/17
BFIN
09/19/17
NO CHANGE
BFIN
Hard disk drive demand environment degrading, says BlueFin
BlueFin analyst John Donovan said the demand environment for Western Digital (WDC), Seagate (STX) and Toshiba (TOSBF) for hard disk drives has been degrading, with September to date not being as robust as anticipated. He sees true demand tracking under 100M units in the quarter, but still sees drive suppliers on a path to over 102M units, he added. Pricing is "even more aggressive" than he previously feared, Donovan added.
10/02/17
CHLM
10/02/17
UPGRADE
CHLM
Buy
Seagate upgraded to Buy from Hold at Craig-Hallum
10/02/17
10/02/17
UPGRADE
Target $50

Buy
Seagate upgraded to Buy at Craig-Hallum
As previously reported, Craig-Hallum analyst Christian Schwab upgraded Seagate (STX) to Buy from Hold as he believes Q1 results are tracking in line with Street expectations, and his checks suggest Seagate is seeing traction with its 10TB drives and certain pricing activity from Western Digital is further benefiting the company. The analyst also takes comfort in ValueAct's nearly $1B investment in Seagate, and is encouraged by the announcement that Seagate is part of the Bain consortium that signed a Share Purchase Agreement for Toshiba's (TOSBF; TOSYY) memory business with expectations to enter into a long-term NAND supply agreement with Toshiba Memory for continuity of raw NAND for Seagate's expanding SSD portfolio. Schwab also raised his price target on Seagate's shares to $50 from $37.

TODAY'S FREE FLY STORIES

DDE

Dover Downs

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BJ

BJ's Wholesale

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0.23 (0.90%)

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TCDA

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CLF

Cleveland-Cliffs

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BV

BrightView

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SGMO

Sangamo

$15.10

0.025 (0.17%)

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BV

BrightView

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HCM

Hutchison China MediTech

$33.92

0.89 (2.69%)

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BJ

BJ's Wholesale

$25.90

0.23 (0.90%)

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RHHBY

Roche

$0.00

(0.00%)

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  • 08

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PZZA

Papa John's

$51.61

0.62 (1.22%)

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$279.71

-0.24 (-0.09%)

05:21
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General news
Trump tells Iranian President to 'never, ever threaten' U.S. again »

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S&P 500

$0.00

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SPY

SPDR S&P 500 ETF Trust

$279.71

-0.24 (-0.09%)

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STIM

Neuronetics

$26.27

-0.44 (-1.65%)

05:19
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PZZA

Papa John's

$51.61

0.62 (1.22%)

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ACN

Accenture

$166.47

-0.47 (-0.28%)

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  • 30

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BV

BrightView

$21.95

0.14 (0.64%)

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TCDA

Tricida

$29.50

-0.42 (-1.40%)

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BV

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INSM

Insmed

$24.98

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BJ

BJ's Wholesale

$25.90

0.23 (0.90%)

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BJ

BJ's Wholesale

$25.90

0.23 (0.90%)

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DUK

Duke Energy

$80.64

-0.56 (-0.69%)

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  • 02

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STI

SunTrust

$70.86

1.855 (2.69%)

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04:55
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MGEN

Miragen Therapeutics

$6.87

-0.08 (-1.15%)

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  • 23

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