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Fly News Breaks for August 7, 2019
STX, WDC
Aug 7, 2019 | 17:43 EDT
Barclays analyst Tim Long initiated Seagate (STX) with an Underweight rating and a price target of $37. The analyst's negative view is based on the HDD market being in secular decline, Seagate having been slightly behind Western Digital (WDC) in high capacity nearline drives, and the likelihood that top-line pressure and a potential increase in research and development "could disrupt the capital return to shareholders."
News For STX;WDC From the Last 2 Days
WDC
Sep 16, 2019 | 14:41 EDT
In a research note title "Memory Monthly: When Will DRAM Bottom?," RBC Capital analyst Mitch Steves says that August pricing data was positive after the significant move following supply chain disruptions amid Western Digital (WDC)/Toshiba (TOSYY; TOSBF) power outage and Korea/Japan dispute. The analyst believes DRAM will bottom over the next couple of months. With 2020 likely to be an up year, Steves thinks the current environment creates attractive entry points for both Micron (MU) and Western Digital. Overall, the monthly data reflects an improving pricing environment, he adds.