Opinions
Cameron Hurst
Seagate Technology
STX-Q
DON'T BUY
Jul 07, 2017
$13.170
Stock price when the opinion was issued
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PAST TOP PICK
(A Top Pick Oct 27/20, Up 114.1%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with STX continues to make good progress. We now recommend trailing up the stop (from $65) to $85. If triggered, this would all but guarantee a minimum investment return of 50%, when considering the previous recommendation to cover half of the holding.
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PAST TOP PICK
(A Top Pick Oct 27/20, Up 75%)Stochchase Research Editor: Michael O'Reilly Our PAST TOP PICK with STX has triggered its stop at $85. We recommend covering the balance of the position now. Combined with the previous recommendation to cover 50%, this will result in a net investment return exceeding 50%.
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BUY
Just bought this for the first time. AI is driving a new refresh cycle in PCs. Also, we haven't upgraded PCs in 4-5 years. Dell just said their PC business was up 3% instead of the expected -2%. HPQ will see growth in the second half of this year, for the first time in 2 years. Also, AMD said last Sunday that their AI PC chips are 5x the speed of existing chips. Seagate leads this sector. Gross margins are poised to go higher. Margins could expand 1,000 basis points year over year. They have pricing power and volumes are rising. She might be early on it, but that's fine.
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Technically, this has rolled over and has a lot of work to do. The company has continued to have earnings beat, which is always a good thing. However, they are flat lining. Dividend yield of almost 7%.