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Auriga on Hardware: HDD Earnings on Tap - Further Upside Possible for Seagate; Wait & See Outlook Expected for Intevac

January 31, 2012 1:56 PM EST
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Price: $92.59 -2.1%

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    17 Buy, 27 Hold, 4 Sell

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Auriga on Technology Hardware: HDD Earnings on Tap: Further Upside Possible for Seagate; Wait and See Outlook Expected for Intevac

Both Seagate (Nasdaq: STX)(Buy) and Intevac (Nasdaq: IVAC)(Buy) are scheduled to report their December quarter earnings tonight. Seagate has already pre-announced positively twice during the quarter, raising both the December quarter and March quarter forecast substantially each time, but we don't rule out further upside for both the quarter and the guide. We expect Intevac results to be roughly in-line with consensus, and guidance is likely to be conservative, given the orders for Intevac's HDD tool business that could serve as catalyst remain uncertain and likely won't begin contributing until the second half of 2012.


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