.jpg "Seagate Tech (NASDAQ: STX)")
In a report released yesterday, Vijay Rakesh from Mizuho Securities maintained a Hold rating on Seagate Tech (STX). The company’s shares closed last Monday at $52.94.
Rakesh wrote:
“We believe N-T tariff and supply chain overhangs remain a drag on demand, but L-T, improving nearline HDD with hyperscale and DC demand into 2020E should be positive.”
According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 20.8% and a 63.1% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Intel Corporation, and Texas Instruments.
Currently, the analyst consensus on Seagate Tech is a Hold with an average price target of $46.69, which is a -18.1% downside from current levels. In a report issued on September 10, KeyBanc also maintained a Hold rating on the stock with a $58 price target.
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Seagate Tech’s market cap is currently $13.98B and has a P/E ratio of 7.45. The company has a Price to Book ratio of 6.59.
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Seagate Technology Plc engages in the development, production, and distribution of data storage products and electronic data storage solutions. Its products include hard disk drives, solid state hybrid drives, solid state drives, peripheral component interconnect express cards, serial advanced technology attachment controllers, storage subsystems and computing solutions. It offers its products under the Backup Plus and Expansion product lines, and Maxtor and LaCie brands. The company was founded by Finis Conner, Syed Iftikar, Doug Mahon, David Thomas Mitchell, and Alan F. Shugart in 1978 and is headquartered in Dublin, Ireland.
