Seagate gets upgrade at Wedbush citing HAMR drive technology on horizon

seekingalpha05-01

Wedbush upgraded Seagate Technology's (NASDAQ:STX) shares to Outperform from Neutral and maintained its $100 price target on the stock. Analyst Matt Bryson said there is near-term upside potential. ...

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Analyst Matt Bryson said there is near-term upside potential. ...</p>\n\n<a href=\"https://seekingalpha.com/news/4097315-seagate-gets-upgrade-at-wedbush-citing-hamr-drive-technology-on-horizon\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Seagate gets upgrade at Wedbush citing HAMR drive technology on horizon</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSeagate gets upgrade at Wedbush citing HAMR drive technology on horizon\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-01 21:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4097315-seagate-gets-upgrade-at-wedbush-citing-hamr-drive-technology-on-horizon><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wedbush upgraded Seagate Technology's (NASDAQ:STX) shares to Outperform from Neutral and maintained its $100 price target on the stock. Analyst Matt Bryson said there is near-term upside potential. ...</p>\n\n<a href=\"https://seekingalpha.com/news/4097315-seagate-gets-upgrade-at-wedbush-citing-hamr-drive-technology-on-horizon\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://seekingalpha.com/news/4097315-seagate-gets-upgrade-at-wedbush-citing-hamr-drive-technology-on-horizon","article_id":"2432828577","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1547221415/image_1547221415.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2432828577","pubTimestamp":1714570517,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Wedbush upgraded Seagate Technology's (NASDAQ:STX) shares to Outperform from Neutral and maintained its $100 price target on the stock. 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Analyst Matt Bryson said there is near-term upside potential. Bryson noted that the nearline HDD supply is currently falling short of end demand. The analyst assumes only modest additional industry nearline shipment increases in CQ2 (estimates which are likely to allow for volume, revenue, and mix and pricing related margin upside for both Western Digital (WDC) and Seagate). Wedbush's model also only assumes low single digit price increases, an estimate that the analyst believes is conservative given high capacity shortages and notifications of price increases. Bryson upped the rating also due to more certainty around HAMR (heat-assisted magnetic recording) drive progress, which creates intermediate to longer-term room for share, margin, and profit expansion. The analysts said that their checks fit with Seagate's suggestion that the most recent hold-up in qualification is a component issue rather than a larger technology problem. \"While we believe there are still some manufacturing challenges that likely need to be resolved to get the full benefit of HAMR, we believe the fundamental issues are behind STX,\" said Bryson in a research note. The analyst added that they see Broadcom's (AVGO) recent purchase of Seagate's SoC work as validating HAMR's technology path/progress as Broadcom CEO Hock Tan notably does not invest in green shoots. In addition, with differentiated enterprise drives traditionally having seen margins of 40%+, Bryson sees room for Seagate to significantly lift its profitability two years out. Seagate (STX) has a Hold rating at Seeking Alpha's Quant Rating system, which consistently beats the market. Meanwhile, the Seeking Alpha authors' average rating is more positive with a Buy and so is the average Wall Street analysts' rating, Buy.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2432828577"}