Seagate PLUMMETS 2.5% and 2 Hard Drive Stocks on the Move
Seagate Technology PLC (NASDAQ:STX): According to Cleveland Research, HDD datapoints are still worsening causing caution toward Seagate and Western Digital (NYSE:WDC) guidance for Q3. Cleveland Research believes Street estimates will see negative revisions and Q4 estimates are high, the analyst gives shares a Neutral rating.
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SanDisk Corp. (NASDAQ:SNDK): Digitimes reports, both Lenovo (LNVGY) and Fujitsu (FJTSY) have begun using SanDisk’s mSATA SSD devices.
Western Digital Corp. (NYSE:WDC): According to Needham, the 20% pullback in Western Digital’s shares since May 16 are a result of weakness in the Total Addressable Market, TAM, for hard disk drives and the Street’s overblown reaction to pricing. Neeham maintains a Strong Buy rating with a $61 price target on shares saying that the move in the stock is an over-correction.
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