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STX

Seagate

$46.00

3.06 (7.13%)

16:09
01/08/18
01/08
16:09
01/08/18
16:09

Seagate sees Q2 revenue roughly $2.9B, consensus $2.74B

GAAP and Non-GAAP operating expenses for the December quarter are expected to be approximately $444 million and $390 million respectively. The Company ended the quarter with approximately $2.6 billion in cash and cash equivalents. These preliminary results compare to the Company's previous forecast for fiscal second quarter 2018 revenue growth of 3-5% sequentially, non-GAAP gross margin improvement sequentially and non-GAAP operating expenses down 2-3%. "Our revenue growth and strong portfolio profitability in the December quarter reflect solid demand for high-capacity mass-storage solutions, particularly for our cloud-based environments," said Dave Mosley, Seagate's chief executive officer. "Availability of our cloud and edge portfolio remains constrained with broad-based customer demand globally and we are looking forward to planning discussions with a significant number of customers at CES this week," said Dave Mosley. Due to industry forecasts for explosive data creation and next-generation workloads over the next decade and beyond, the storage industry anticipates an increase in global storage needs for existing and new markets. To address these needs, Seagate has developed and invested in building a robust digital storage portfolio to provide customers with solutions that fit their dynamic storage needs, including HDDs, SSDs, and hybrid solutions.

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    Jan

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  • 09

    Jan

STX Seagate
$46.00

3.06 (7.13%)

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.
01/08/18
COWN
01/08/18
NO CHANGE
COWN
Market Perform
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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NFLX

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NFLX

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ALLVF

Altice NV

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Red Hat

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2.07 (1.64%)

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CAMP

CalAmp

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AYR

Aircastle

$24.23

-0.03 (-0.12%)

04:55
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CRNCY

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0.11 (1.82%)

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SRE

Sempra Energy

$105.05

-0.94 (-0.89%)

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TRN

Trinity Industries

$36.51

-0.15 (-0.41%)

04:55
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  • 23

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EPE

EP Energy

$2.48

0.17 (7.36%)

04:55
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  • 23

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BNED

Barnes & Noble Education

$7.71

0.01 (0.13%)

04:55
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  • 23

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Signet Jewelers

$55.87

0.8 (1.45%)

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UNF

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FCPT

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Four Corners Property Trust management to meet with JMP Securities »

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  • 23

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PRQR

ProQR Therapeutics

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BRG

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ABEO

Abeona Therapeutics

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STML

Stemline

$14.25

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