Needham & Company Reiterates a 'Strong Buy' on Seagate Technology (STX); A Cavalcade Of Conservatism

Needham & Company reiterates a 'Strong Buy' on Seagate Technology (NASDAQ: STX), PT $25.

Needham analyst says, "Aside from the commodity pricing (which is being passed along) and the temporary yield issues, STX's F4Q results and F1Q guide were directionally consistent with our expectations, but not the Street. We see the downdraft in the stock as an opportunity. Specifically, STX yields 5% and will see a GM recovery later in F12, driven by significant industry consolidation, tightened supply, and increased pricing."

For more ratings news on Seagate Technology click here and for the rating history of Seagate Technology click here.

Shares of Seagate Technology closed at $16.93 yesterday.

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