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STX

Seagate

$52.78

-2.28 (-4.14%)

09:46
08/09/18
08/09
09:46
08/09/18
09:46

Technical Take: Seagate falls to session lows, analyst action

After the first 15-minutes of trading the stock is coming off the low of the day set at $51.50. Below that price next support is at the $50 area. Resistance is at the opening price at $52.59. As previously reported, Goldman Sachs downgraded the stock to Sell and cut its price target from $50 down to $44.

  • 13

    Aug

STX Seagate
$52.78

-2.28 (-4.14%)

08/09/18
GSCO
08/09/18
DOWNGRADE
Target $44
GSCO
Sell
Seagate downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Mark Delaney downgraded Seagate Technology (STX) to Sell and lowered his price target for the shares to $44 from $50, representing 20% downside from current levels. While Seagate has improved its product offerings in the last few years, hard disk drives remain a cyclical industry, and one "facing secular challenges in many parts of the market," Delaney tells investors in a research note. He believes Seagate's fundamentals will peak in the second half of 2018 and decline in 2019. NAND is oversupplied and sold state drive prices are falling, Delaney says. Further, the analyst notes that Seagate trades at a "greater than two turn premium" on forward price-to-earnings ratio relative to peers Western Digital (WDC) and Micron (MU).
07/27/18
MSCO
07/27/18
NO CHANGE
Target $96
MSCO
Equal Weight
Western Digital relative underperformance creates potential, says Morgan Stanley
Morgan Stanley analyst Joseph Moore said he has believed for the last 9 months that NAND was moving into moderate oversupply and companies were overly optimistic about a recovery in the second half, as has been playing out this quarter. While noting that his 2019 estimates for Western Digital (WDC) are "well below" consensus, Moore also said the stock is inexpensive and its underperformance compared to both hardware peer Seagate (STX) and memory peer Micron (MU) creates "significant potential." Despite the material upside potential he sees from here, Moore keeps an Equal Weight rating on Western Digital with a slightly lowered price target of $96, advocating to wait for numbers to come down.
06/14/18
LOOP
06/14/18
NO CHANGE
Target $70
LOOP
Buy
Seagate gross margins to track higher for the rest of 2018, says Loop Capital
Loop Capital analyst Ananda Baruah kept his Buy rating and $70 price target on Seagate, saying the company should continue tracking to the upside in its gross margins for the rest of this year. The analyst cites continued growth of demand for cloud drives and absorption of costs starting with the September quarter. Baruah also anticipates Seagate to reach annual EPS of over $6 one year earlier than expected.
06/06/18
MSCO
06/06/18
NO CHANGE
MSCO
Overweight
Morgan Stanley prefers Seagate to Western Digital due to NAND headwinds
After comparing the valuation, portfolio positioning, pricing, and gross margin trajectories of Seagate (STX) and Western Digital (WDC), Morgan Stanley analyst Katy Huberty concluded that both stocks "appear cheap for the long-term" given the exponential data growth in the next computing cycle, dubbed "the Data Era." In the nearer-term, however, concerns around NAND pricing lead Huberty to keep an Equal Weight rating on Western Digital and express a preference for Seagate, on which she has an Overweight rating.

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MNST

Monster Beverage

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COE

China Online Education

$7.00

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IPOA

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MGTI

MGT Capital Investments

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(0.00%)

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AXTA

Axalta Coating

$30.16

0.23 (0.77%)

11:50
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EAF

GrafTech

$20.10

1.015 (5.32%)

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TNDM

TNDM

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  • 20

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BYSI

BeyondSpring

$25.55

(0.00%)

11:44
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Conference/Events
BeyondSpring management to meet with RBC Capital »

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  • 20

    Sep

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EB

Eventbrite

$0.00

(0.00%)

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  • 20

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DNR

Denbury Resources

$5.49

-0.095 (-1.70%)

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  • 24

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ELAN

Elanco

$0.00

(0.00%)

, LLY

Eli Lilly

$105.79

0.03 (0.03%)

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Elanco

$0.00

(0.00%)

LLY

Eli Lilly

$105.79

0.03 (0.03%)

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ELAN

Elanco

$0.00

(0.00%)

, LLY

Eli Lilly

$105.64

-0.12 (-0.11%)

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Syndicate
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Elanco

$0.00

(0.00%)

LLY

Eli Lilly

$105.64

-0.12 (-0.11%)

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RF

Regions Financial

$19.41

0.25 (1.30%)

11:25
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Options
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CHTR

Charter

$331.64

1.88 (0.57%)

11:25
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Conference/Events
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  • 20

    Sep

ACHV

Achieve Life Sciences

$2.53

0.05 (2.02%)

11:25
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Conference/Events
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