|Bid||50.50 x 100|
|Ask||52.73 x 200|
|Day's range||51.74 - 52.77|
|52-week range||30.60 - 52.77|
|PE ratio (TTM)||19.84|
|Earnings date||29 Jan 2018|
|Forward dividend & yield||2.52 (4.83%)|
|1y target est||44.14|
Ripple owns about $80 billion worth of digital currency and could sell hundreds of millions of dollars worth a month.
US-based (SPY) storage technology firm Seagate (STX) has generated returns of 33% in the trailing 12-month period, 21.1% in the last one month, and 15% in the trailing five-day period. At the end of January 11, 2018, Seagate closed trading at $49.01, which is 60% above its 52-week low of $30.6 and 3.8% below its 52-week high of $50.96. Of the 28 analysts tracking Seagate, three gave the stock a “buy” recommendation, and 19 analysts recommended a “hold.” Six analysts recommended a “sell” on the stock.
Analysts expect Seagate’s operating margin to rise from 13.8% in fiscal 2017 to 14.8% in fiscal 2018. Operating margin is expected to rise marginally to 15% in fiscal 2019 and fall to 14.8% in fiscal 2020. Seagate’s net margin has fallen to current levels from 19.2% in fiscal 2012, while the firm’s operating margin at that time stood at 21.7%.
Stocks hit record highs amid generally strong earnings from Delta, JPMorgan and Lennar, even as Intel and Facebook woes hit those giants. Bitcoin retreated.
A Relative Strength Rating upgrade for Seagate Technology shows improving technical performance.
[Updates with FYQ2 pre-announce at bottom of post.] Shares of hard disk drive maker Seagate Technology (STX) have been on a tear today, apparently driven by a post this morning from ValueStreet Research on Seeking Alpha that claimed the company had made an investment in San Francisco-based startup Ripple, backers of one of the crypto currencies, “XRP,” an investment that could be worth as much as $7.8 billion to Seagate. Seagate stock closed up $3.06, over 7%, at $46, though it backed off the highest level of the session, $49.70. BTIG Research’s Edward Parker, who has a Buy rating on Seagate, notes the point raised by ValueStreet, to wit, Seagate invested in the Series A and Series B rounds for the startup, which were $28 million and $55 million rounds, respectively.
Seagate was an early investor in digital payment company Ripple Labs, in its desire to become an active participant in the blockchain technology.
Cryptocurrencies take it on the chin Monday, retreating from an all-time high valuation of the sector on Sunday
Seagate rose $3.06, or 7.1%, to $46, while the S&P 500 gained 4.56 points, or 0.17%, to 2747.71. A number of analysts are out today, reacting to Seagate's stake in Ripple Labs, which is a cryptocurrency play that was also in the news last week, on news that Western Union (WU) may use its blockchain technology. After the close, Seagate announced preliminary fiscal second-quarter sales, saying it expects revenue to be about $2.9 billion, above the $2.74 billion consensus. Seagate is up 2.2% to $47 after hours as well.
CES 2018--Seagate Technology plc , a world leader in data storage solutions, and JD.com, China’s largest online retailer, its biggest overall retailer and the largest Internet company in China, today jointly launched the SeagateⓇ Joy Drive - a portable device that allows Android smartphone and tablet users to expand their storage and battery usage.
Seagate Technology plc today announced the launch of the 5U84 high-density enclosure built with a next-generation operating system that together delivers performance, capacity and reliability.