Tag Archives: stx

Seagate Technology Earnings Miss In Difficult Market

Seagate Technology (STX) stock fell sharply Tuesday after the disk-drive maker reported quarterly earnings late Monday that missed Wall Street expectations. The shortfall was attributed to weaker-than-expected sales of higher-margin disk drives to enterprise customers and higher-than-expected operating expenses. Seagate reported revenue of $3.53 billion, down 4% from the year-earlier quarter and slightly below the analyst consensus estimate of

Seagate, Western Digital Price Targets Hiked

Seagate Technology (STX) stock was up nearly 1% but Western Digital (WDC) stock was flat in morning trading in the stock market today, after RBC Capital Markets raised its price targets on both stocks. Seagate was trading near 60.80 Wednesday morning, while Western Digital was near 87.85. RBC upped Seagate’s price target to 60 from 51 and maintained its sector perform, or hold, rating. Analyst Amit Daryanani said he’s upbeat about demand for

Seagate Seen Moving Up ‘Storage Stack" With Xyratex

Seagate Technology’s (STX) acquisition of Xyratex (XRTX) for about $374 million is getting mixed reviews from analysts. Seagate, a maker of hard-disk drives for computers and other data storage systems, on Monday announced the Xyratex deal, which it expects to close mid-2014. Xyratex makes test equipment and storage subsystems. “Our overall take on the transaction is that it is another incremental data point that Seagate is trying to move up the