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STX

Seagate

$42.94

0.3 (0.70%)

11:49
01/08/18
01/08
11:49
01/08/18
11:49

Cowen says conservatism warranted valuing Seagate stake in Ripple

Following a Seeking Alpha article attributed with highlighting Seagate's previous investments in Ripple via early stage fundraising, Cowen analyst Karl Ackerman said he does not think that the company's investment is worth even half of the $8B the article speculates. He thinks it could be worth as much as $2B on paper, but also tells investors that "a high degree of conservatism should be warranted" given the high volatility of cryptocurrencies and the lack of clarity regarding Seagate's investment objectives. Ackerman keeps a Market Perform rating on Seagate shares, which are up 7% in late morning trading.

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    Jan

STX Seagate
$42.94

0.3 (0.70%)

11/14/17
WELS
11/14/17
INITIATION
Target $38
WELS
Market Perform
Seagate resumed with a Market Perform at Wells Fargo
Wells Fargo analyst Aaron Rakers resumed coverage of Seagate Technology with a Market Perform rating and $38 price target.
12/13/17
COWN
12/13/17
NO CHANGE
COWN
Outperform
JV settlement positive for both Western Digital and Seagate, says Cowen
Cowen analyst Karl Ackerman said Western Digital's (WDC) settlement agreement with Toshiba (TOSBF) is largely in line with his prior expectations and should lead to a better multiple for Western Digital shares since it removes one of investors' primary fears. The deal is also a positive for Seagate (STX), according to Ackerman, as it gives that company an opportunity to access NAND supply from Toshiba. The analyst, who maintains an Outperform rating on Western Digital, added that the company's updated guidance proves his prior view that Street estimates were "way too low."
01/05/18
KEYB
01/05/18
NO CHANGE
KEYB
KeyBanc calls memory checks mixed entering Q1
KeyBanc analyst Weston Twigg says his memory contacts maintain a mixed view on memory pricing this year, with DRAM likely up moderately and NAND down. The analyst continues to expect limited new DRAM supply until later this year, creating a tight supply/demand environment, and "substantial" new NAND capacity coming online in the first half of the year, driving lower pricing. He views DRAM strength as positive for Micron (MU), and NAND softness as a potential negative for Micron, Western Digital (WDC) and Seagate (STX).
01/08/18
SUSQ
01/08/18
NO CHANGE
Target $39
SUSQ
Neutral
Susquehanna sellers on Seagate strength due to Ripple stake report
Following a report that noted Seagate's investment in Ripple Labs and speculated on the value that the stake could represent, Susquehanna analyst Mehdi Hosseini said he would be a seller on strength that was driven by reports related to Ripple. While the investment in Ripple Labs is "intriguing," Hosseini pointed out that it is an equity investment and not token ownership, meaning the holding is not a source of liquid cash for Seagate. The value of the investment in Ripple Labs is likely to "fluctuate wildly," added the analyst, who keeps a Neutral rating on Seagate shares.

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Raytheon

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2.88 (1.36%)

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Syros Pharmaceuticals

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SPS Commerce

$71.88

0.11 (0.15%)

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Radcom

$19.65

0.25 (1.29%)

05:52
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INFO

IHS Markit

$51.60

0.13 (0.25%)

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-2.66 (-7.93%)

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QTM

Quantum

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-0.06 (-1.63%)

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FITB

Fifth Third

$30.89

-2.66 (-7.93%)

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OTEX

OpenText

$34.10

0.1 (0.29%)

05:51
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NVEE

NV5 Global

$60.60

0.6 (1.00%)

05:50
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NV5 Global management to meet with Lake Street »

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M

Macy's

$34.60

0.63 (1.85%)

05:49
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NCR

NCR Corp.

$31.30

0.11 (0.35%)

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ONCE

Spark Therapeutics

$73.03

-3.69 (-4.81%)

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Pfizer

$35.79

0.15 (0.42%)

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Spark Therapeutics

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Pfizer

$35.79

0.15 (0.42%)

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FMC

FMC Corporation

$91.30

-0.22 (-0.24%)

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S

Sprint

$5.17

0.05 (0.98%)

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Goosehead Insurance

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Smartsheet

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VLRS

Volaris

$5.42

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BAX

Baxter

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DOCU

DocuSign

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AROC

Archrock

$12.30

0.35 (2.93%)

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PSTG

Pure Storage

$23.60

-0.065 (-0.27%)

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DOCU

DocuSign

$43.06

-1.73 (-3.86%)

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Sasol

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GSHD

Goosehead Insurance

$16.19

0.12 (0.75%)

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