Argus Downgrades Seagate Technology (STX) to Hold

Argus downgraded Seagate Technology (NASDAQ: STX) from Buy to Hold.

The analyst said the directional decline in the gross margin is worrisome. "While Seagate is now focusing on the cloud data center in the enterprise space, it is still highly dependent on HDD volume sales in the client channel," they note.

For an analyst ratings summary and ratings history on Seagate Technology click here. For more ratings news on Seagate Technology click here.

Shares of Seagate Technology closed at $27.11 yesterday.

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