Seagate (NYSE: STX), Vertex Pharmaceuticals (NASDAQ: VRTX), Tyco International Ltd (NYSE: TYC), Approach Resources Inc. (NASDAQ: AREX), Bottomline Technologies (NASDAQ: EPAY) and Akamai Technologies (NASDAQ: AKAM) ratings and price targets.
Seagate (STX) had its “Buy” rating reiterated by Auriga.
Vertex Pharmaceuticals (VRTX) had its “Hold” rating reiterated by Brean Murray.
Tyco International Ltd (TYC) had its “Neutral” rating reiterated by Nomura (NYSE:NMR).
Johnson Rice initiated coverage on Approach Resources Inc. (AREX). They placed an “Overweight” rating on the company.
Bottomline Technologies (EPAY) had its price target raised by Needham & Company from $29.00 to $33.00. They have a “Buy” rating on the company.
Akamai Technologies (AKAM) was downgraded by B. Riley from a “Buy” rating to a “Neutral” rating.
Showing posts with label Seagate Technology. Show all posts
Showing posts with label Seagate Technology. Show all posts
Thursday, February 2, 2012
Monday, January 9, 2012
Seagate (STX) (ABVT) (MNTA) (CME) (CRH) (APKT) Ratings, Price Targets
Seagate (NYSE: STX), AboveNet Inc. (NASDAQ: ABVT), Momenta Pharmaceuticals, Inc. (NASDAQ: MNTA), CME Group Inc. (NYSE: CME), CRH PLC (NYSE: CRH) and Acme Packet, Inc. (NASDAQ: APKT) ratings and price targets.
Seagate (STX) had its “Strong Buy” rating reiterated by Needham & Company.
AboveNet Inc. (ABVT) is now covered by Brigantine. They placed a “Buy” rating and a price target of $76.00 on the company.
Momenta Pharmaceuticals, Inc. (MNTA) is now covered by Sanford C. Bernstein. They placed an “Outperform” rating on the company.
CME Group Inc. (CME) had its price target lowered by Stifel Nicolaus from $325.00 to $280.00. They have a “Buy” rating on the company.
CRH PLC (CRH) was downgraded by Credit Suisse (NYSE:CS) from a “Neutral” rating to an “Underperform” rating.
Acme Packet, Inc. (APKT) was upgraded by Raymond James (NYSE:RJF) from an “Underperform” rating to a “Strong Buy” rating.
Seagate (STX) had its “Strong Buy” rating reiterated by Needham & Company.
AboveNet Inc. (ABVT) is now covered by Brigantine. They placed a “Buy” rating and a price target of $76.00 on the company.
Momenta Pharmaceuticals, Inc. (MNTA) is now covered by Sanford C. Bernstein. They placed an “Outperform” rating on the company.
CME Group Inc. (CME) had its price target lowered by Stifel Nicolaus from $325.00 to $280.00. They have a “Buy” rating on the company.
CRH PLC (CRH) was downgraded by Credit Suisse (NYSE:CS) from a “Neutral” rating to an “Underperform” rating.
Acme Packet, Inc. (APKT) was upgraded by Raymond James (NYSE:RJF) from an “Underperform” rating to a “Strong Buy” rating.
Friday, January 6, 2012
Seagate (STX) Price Targets Changed
Seagate (NYSE: STX) had price targets on them adjusted by analysts.
Seagate (STX) had its price target raised by JPMorgan Chase & Co. (NYSE:JPM) to $21.00.
Seagate had its price target raised by Goldman Sachs (NYSE:GS) to $16.00.
Seagate had its price target raised by FBN Securities to $25.00.
Seagate had its price target raised by Citigroup (NYSE:C) to $28.00.
Seagate had its price target raised by Auriga to $32.00.
Seagate had its price target raised by Bank of America (NYSE:BAC) to $22.00.
Seagate (STX) had its price target raised by JPMorgan Chase & Co. (NYSE:JPM) to $21.00.
Seagate had its price target raised by Goldman Sachs (NYSE:GS) to $16.00.
Seagate had its price target raised by FBN Securities to $25.00.
Seagate had its price target raised by Citigroup (NYSE:C) to $28.00.
Seagate had its price target raised by Auriga to $32.00.
Seagate had its price target raised by Bank of America (NYSE:BAC) to $22.00.
Thursday, January 5, 2012
Seagate (STX) Ratings, Price Targets
Seagate (NYSE: STX) ratings and price targets.
Seagate (STX) had its price target raised by Goldman Sachs (NYSE:GS) to $16.00.
Seagate had its price target raised by FBN Securities to $25.00.
Seagate had its price target raised by Citigroup (NYSE:C) to $28.00.
Seagate had its price target raised by Auriga to $32.00.
Seagate had its price target raised by Bank of America (NYSE:BAC) to $22.00.
Seagate had its price target raised by JPMorgan Chase & Co. (NYSE:JPM) to $21.00.
Seagate (STX) had its price target raised by Goldman Sachs (NYSE:GS) to $16.00.
Seagate had its price target raised by FBN Securities to $25.00.
Seagate had its price target raised by Citigroup (NYSE:C) to $28.00.
Seagate had its price target raised by Auriga to $32.00.
Seagate had its price target raised by Bank of America (NYSE:BAC) to $22.00.
Seagate had its price target raised by JPMorgan Chase & Co. (NYSE:JPM) to $21.00.
Wednesday, November 30, 2011
Seagate (NYSE: STX) Price Targets Changed
Seagate (NYSE: STX) had price targets on them adjusted by analysts.
Seagate (STX) had its price target raised by Citigroup (NYSE:C) to $26.00.
Seagate had its price target raised by Brean Murray to $23.00. They have a “Buy” rating on the company.
Seagate had its price target raised by JPMorgan Chase & Co. (NYSE:JPM) to $17.50.
Seagate had its price target raised by Goldman Sachs (NYSE:GS) to $15.00.
Seagate had its price target raised by FBN Securities to $22.00.
Seagate (STX) had its price target raised by Citigroup (NYSE:C) to $26.00.
Seagate had its price target raised by Brean Murray to $23.00. They have a “Buy” rating on the company.
Seagate had its price target raised by JPMorgan Chase & Co. (NYSE:JPM) to $17.50.
Seagate had its price target raised by Goldman Sachs (NYSE:GS) to $15.00.
Seagate had its price target raised by FBN Securities to $22.00.
Tuesday, November 29, 2011
Seagate (STX) Ratings, Price Targets
Seagate (STX) ratings and price targets adjusted by analysts.
Citigroup (NYSE:C) raised its price target on Seagate (STX) to $26.00.
Brean Murray raised its price target on Seagate to $23.00. They have a “Buy” rating on the company.
Goldman Sachs (NYSE:GS) raised its price target on Seagate to $15.00.
JPMorgan Chase & Co. (NYSE:JPM) raised its price target on Seagate (STX) to $17.50.
FBN Securities raised its price target on Seagate to $22.00.
Needham & Company reiterated its “Accumulate” on Seagate (STX).
Citigroup (NYSE:C) raised its price target on Seagate (STX) to $26.00.
Brean Murray raised its price target on Seagate to $23.00. They have a “Buy” rating on the company.
Goldman Sachs (NYSE:GS) raised its price target on Seagate to $15.00.
JPMorgan Chase & Co. (NYSE:JPM) raised its price target on Seagate (STX) to $17.50.
FBN Securities raised its price target on Seagate to $22.00.
Needham & Company reiterated its “Accumulate” on Seagate (STX).
Monday, November 7, 2011
Seagate (STX) (ATK) (STRA) (ARTC) (SWKS) (ARO) Price Targets Changed
Seagate (NYSE: STX), Alliant Techsystems Inc. (NYSE: ATK), Strayer Education, Inc. (NASDAQ: STRA), ArthroCare Co. (NASDAQ: ARTC), Skyworks Solutions, Inc. (NASDAQ: SWKS) and Aeropostale, Inc. (NYSE: ARO) had price targets on them adjusted by analysts.
Seagate (STX) had its price target raised by Barclays Capital from $15.00 to $18.00. They have an “Equal Weight” rating on the company.
Alliant Techsystems Inc. (ATK) had its price target lowered by Jefferies (NYSE:JEF) to $77.00.
Strayer Education, Inc. (STRA) had its price target raised by Barclays Capital from $94.00 to $103.00. They have an “Equal Weight” rating on the company.
ArthroCare Co. (ARTC) had its price target lowered by Jefferies to $32.00.
Skyworks Solutions, Inc. (SWKS) had its price target lowered by UBS AG (NYSE:UBS) from $40.00 to $28.00. They have a “Buy” rating on the company.
Aeropostale, Inc. (ARO) had its price target raised by Needham & Company from $15.00 to $20.00. They have a “Buy” rating on the company.
Seagate (STX) had its price target raised by Barclays Capital from $15.00 to $18.00. They have an “Equal Weight” rating on the company.
Alliant Techsystems Inc. (ATK) had its price target lowered by Jefferies (NYSE:JEF) to $77.00.
Strayer Education, Inc. (STRA) had its price target raised by Barclays Capital from $94.00 to $103.00. They have an “Equal Weight” rating on the company.
ArthroCare Co. (ARTC) had its price target lowered by Jefferies to $32.00.
Skyworks Solutions, Inc. (SWKS) had its price target lowered by UBS AG (NYSE:UBS) from $40.00 to $28.00. They have a “Buy” rating on the company.
Aeropostale, Inc. (ARO) had its price target raised by Needham & Company from $15.00 to $20.00. They have a “Buy” rating on the company.
Monday, October 24, 2011
Seagate (STX) (DPZ) (SIVB) (DHR) (SNDK) (CY) Price Targets Changed
Seagate (NYSE: STX), Domino’s Pizza, Inc. (NYSE: DPZ), SVB Financial Group (NASDAQ: SIVB), Danaher Co. (NYSE: DHR), SanDisk Co. (NASDAQ: SNDK) and Cypress Semi (NYSE: CY) had price targets on them adjusted by analysts.
Seagate (STX) had its price target raised by Needham & Company from $19.00 to $22.00. They have a “Strong Buy” rating on the company.
Domino’s Pizza, Inc. (DPZ) had its price target raised by Oppenheimer to $36.00.
SVB Financial Group (SIVB) had its price target raised by JPMorgan Chase & Co. (NYSE:JPM) to $54.00.
Danaher Co. (DHR) had its price target raised by JPMorgan Chase & Co. to $51.00.
SanDisk Co. (SNDK) had its price target raised by JPMorgan Chase & Co. to $58.00.
Cypress Semi (CY) had its price target lowered by Wunderlich to $22.00.
Seagate (STX) had its price target raised by Needham & Company from $19.00 to $22.00. They have a “Strong Buy” rating on the company.
Domino’s Pizza, Inc. (DPZ) had its price target raised by Oppenheimer to $36.00.
SVB Financial Group (SIVB) had its price target raised by JPMorgan Chase & Co. (NYSE:JPM) to $54.00.
Danaher Co. (DHR) had its price target raised by JPMorgan Chase & Co. to $51.00.
SanDisk Co. (SNDK) had its price target raised by JPMorgan Chase & Co. to $58.00.
Cypress Semi (CY) had its price target lowered by Wunderlich to $22.00.
Friday, August 26, 2011
Seagate (STX) (GES) (SAP) (MU) (QCOR) ( PCAR) Price Targets Changed
Seagate (NYSE: STX), Guess Inc (NYSE: GES), SAP Aktiengesellschaft (NYSE: SAP), Micron Technology, Inc. (NYSE: MU), Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR) and PACCAR (NASDAQ: PCAR) price targets adjusted by analysts.
Seagate (STX) had its price target lowered by RBC Capital from $18.00 to $13.00. They have a “Sector Perform” rating on the company.
Guess Inc. (GES) had its price target lowered by Wedbush from $50.00 to $37.00. They have a “Neutral” rating on the company.
SAP Aktiengesellschaft (SAP) had its price target lowered by Jefferies (NYSE:JEF) from $67.00 to $60.00.
Micron Technology, Inc. (MU) had its price target lowered by Barclays Capital from $9.00 to $8.00. They have an “Equal Weight” rating on the company.
Questcor Pharmaceuticals, Inc. (QCOR) had its price target raised by Maxim Group from $32.00 to $37.00. They have a “Buy” rating on the company.
PACCAR (PCAR) had its price target lowered by Deutsche Bank (NYSE:DB) from $52.00 to $43.50. They have a “Hold” rating on the company.
Seagate (STX) had its price target lowered by RBC Capital from $18.00 to $13.00. They have a “Sector Perform” rating on the company.
Guess Inc. (GES) had its price target lowered by Wedbush from $50.00 to $37.00. They have a “Neutral” rating on the company.
SAP Aktiengesellschaft (SAP) had its price target lowered by Jefferies (NYSE:JEF) from $67.00 to $60.00.
Micron Technology, Inc. (MU) had its price target lowered by Barclays Capital from $9.00 to $8.00. They have an “Equal Weight” rating on the company.
Questcor Pharmaceuticals, Inc. (QCOR) had its price target raised by Maxim Group from $32.00 to $37.00. They have a “Buy” rating on the company.
PACCAR (PCAR) had its price target lowered by Deutsche Bank (NYSE:DB) from $52.00 to $43.50. They have a “Hold” rating on the company.
Monday, July 25, 2011
SunPower (SPWRA) (NFX) (NUE) (WHR) (STX) Price Targets Changed
SunPower Co. (NASDAQ: SPWRA), Newfield Exploration Co. (NYSE: NFX), Nucor Co. (NYSE: NUE), Whirlpool Corporation (NYSE: WHR) and Seagate (NYSE: STX) price targets adjusted by analysts.
RBC Capital raised its price target on Newfield Exploration (NFX) from $96.00 to $100.00. They have an “Outperform” rating on the company.
JPMorgan Chase & Co. lowered its price target on Nucor Co. (NUE) to $58.00.
JPMorgan Chase & Co. (NYSE: JPM) raised its price target on SunPower Co. (SPWRA) to $122.00.
Goldman Sachs (NYSE: GS) lowered its price target on Whirlpool Corporation (WHR) to $82.00. They have a “Buy” rating on the company.
Citigroup (NYSE: C) lowered its price target on Seagate (STX) to $23.00. They have a “Buy” rating on the company.
RBC Capital raised its price target on Newfield Exploration (NFX) from $96.00 to $100.00. They have an “Outperform” rating on the company.
JPMorgan Chase & Co. lowered its price target on Nucor Co. (NUE) to $58.00.
JPMorgan Chase & Co. (NYSE: JPM) raised its price target on SunPower Co. (SPWRA) to $122.00.
Goldman Sachs (NYSE: GS) lowered its price target on Whirlpool Corporation (WHR) to $82.00. They have a “Buy” rating on the company.
Citigroup (NYSE: C) lowered its price target on Seagate (STX) to $23.00. They have a “Buy” rating on the company.
Wednesday, May 18, 2011
Coverage on (STX) (TJX) (TZYM) (WDC) Initiated
Coverage on shares of Seagate (NYSE: STX), TJX Companies Inc (NYSE: TJX), Tranzyme Inc (NASDAQ: TZYM) and Western Digital (NYSE: WDC) was initiated by analysts.
Auriga initiated coverage on Seagate (STX). They placed a “buy” rating and a price target of $29.00 on the company.
UBS AG (NYSE:UBS) initiated coverage on shares of TJX Companies Inc (NYSE: TJX). They placed a “buy” rating and a price target of $63.00 on the company.
Citigroup (NYSE:C) initiated coverage on Tranzyme Inc (TZYM). They placed a “buy” rating and a price target of $7.00 on the company.
Auriga initiated coverage on Western Digital (WDC). They placed a “buy” rating and a price target of $51.00 on the company.
Auriga initiated coverage on Seagate (STX). They placed a “buy” rating and a price target of $29.00 on the company.
UBS AG (NYSE:UBS) initiated coverage on shares of TJX Companies Inc (NYSE: TJX). They placed a “buy” rating and a price target of $63.00 on the company.
Citigroup (NYSE:C) initiated coverage on Tranzyme Inc (TZYM). They placed a “buy” rating and a price target of $7.00 on the company.
Auriga initiated coverage on Western Digital (WDC). They placed a “buy” rating and a price target of $51.00 on the company.
Coverage on (STX) (TJX) (TZYM) (WDC) Initiated
Coverage on shares of Seagate (NYSE: STX), TJX Companies Inc (NYSE: TJX), Tranzyme Inc (NASDAQ: TZYM) and Western Digital (NYSE: WDC) was initiated by analysts.
Auriga initiated coverage on Seagate (STX). They placed a “buy” rating and a price target of $29.00 on the company.
UBS AG (NYSE:UBS) initiated coverage on shares of TJX Companies Inc (NYSE: TJX). They placed a “buy” rating and a price target of $63.00 on the company.
Citigroup (NYSE:C) initiated coverage on Tranzyme Inc (TZYM). They placed a “buy” rating and a price target of $7.00 on the company.
Auriga initiated coverage on Western Digital (WDC). They placed a “buy” rating and a price target of $51.00 on the company.
Auriga initiated coverage on Seagate (STX). They placed a “buy” rating and a price target of $29.00 on the company.
UBS AG (NYSE:UBS) initiated coverage on shares of TJX Companies Inc (NYSE: TJX). They placed a “buy” rating and a price target of $63.00 on the company.
Citigroup (NYSE:C) initiated coverage on Tranzyme Inc (TZYM). They placed a “buy” rating and a price target of $7.00 on the company.
Auriga initiated coverage on Western Digital (WDC). They placed a “buy” rating and a price target of $51.00 on the company.
Monday, April 18, 2011
Marvell (MRVL) Rating Cut to Hold by Susquehanna
Shares of Marvell (NASDAQ:MRVL) are getting crunched today, as Susquehanna lowered its rating on the company from "Positive" to "Neutral."
Even though Marvell Technology Group is cheap at this time, it is balance by the risk shifts from its top customer Research in Motion (NASDAQ:RIMM) and the hard-disk market.
According to Susquehanna Financial chip analyst Christopher Caso, Marvell's most recent projection for the April quarter was made before the earthquake in Japan, which means it will be skewed because of the now anticipated weak quarter for disk drives.
Caso said with Western Digital (NYSE:WDC) accounting for about 21 percent of Marvell’s annual revenue, it “is likely to be affected by [Texas Instruments's (TXN)] motor controller shortage.”
Also noted was while Seagate Technology (NASDAQ:STX) will be adding some parts from Marvell in the quarter, that will be offset by the loss of some socket business from Seagate.
With RIM generating 14 percent of revenue at Marvell, it isn't too bright there either, even though the company will have “at least three new phones ramping at RIM."
Some of that negativity comes from assumptions that eventually RIM will use "QNX" operating systems, which will more than likely utilize Qualcomm (NASDAQ:QCOM) chips, not Marvell's.
Marvell was trading at $15.13, falling $0.84, or 5.26 percent, as of 2:19 PM EDT.
Even though Marvell Technology Group is cheap at this time, it is balance by the risk shifts from its top customer Research in Motion (NASDAQ:RIMM) and the hard-disk market.
According to Susquehanna Financial chip analyst Christopher Caso, Marvell's most recent projection for the April quarter was made before the earthquake in Japan, which means it will be skewed because of the now anticipated weak quarter for disk drives.
Caso said with Western Digital (NYSE:WDC) accounting for about 21 percent of Marvell’s annual revenue, it “is likely to be affected by [Texas Instruments's (TXN)] motor controller shortage.”
Also noted was while Seagate Technology (NASDAQ:STX) will be adding some parts from Marvell in the quarter, that will be offset by the loss of some socket business from Seagate.
With RIM generating 14 percent of revenue at Marvell, it isn't too bright there either, even though the company will have “at least three new phones ramping at RIM."
Some of that negativity comes from assumptions that eventually RIM will use "QNX" operating systems, which will more than likely utilize Qualcomm (NASDAQ:QCOM) chips, not Marvell's.
Marvell was trading at $15.13, falling $0.84, or 5.26 percent, as of 2:19 PM EDT.
Monday, March 7, 2011
Western Digital (NYSE:WDC) Acquiring Hitachi (HIT) HDD ops for $4.3 Billion
With the goal of dominating the big business hard drive market, Western Digital (NYSE:WDC) announced it is acquiring the hard disk drive operations of Hitachi Ltd (NYSE:HIT) for $4.3 billion.
Investors liked the cash-and-stock deal by driving up Western Digital's share price by 16 percent in morning trading. Rival Seagate Technology Plc's (NASDAQ:STX) stock also jumped on the news.
On a conference call with analysts, Western Digital Chief Executive John Coyne said, "The combination of resources with HGST will provide a strong base to address incremental opportunities for WD utilizing other forms of storage, such as solid state and hybrid drives."
Flash drives, or solid-state drives (SSDs), are viewed by many as the future of the disk drive industry. They are faster, and unlike hard disk drives they have no moving parts and hence are more sturdy.
Although SSDs are still more expensive than traditional hard disk drives (HDD), they are increasingly being built into laptop PCs and tablet computers like Apple's iPad as they are more durable and consume less power.
Seagate was trading at $13.51, gaining $1.07, or 8.62 percent, as of 12:52PM EST. Hitachi was at $64.17, up $2.93, or 4.78 percent. Western Digital was at $33.47, up $3.46, or 11.53 percent.
Full Story
Investors liked the cash-and-stock deal by driving up Western Digital's share price by 16 percent in morning trading. Rival Seagate Technology Plc's (NASDAQ:STX) stock also jumped on the news.
On a conference call with analysts, Western Digital Chief Executive John Coyne said, "The combination of resources with HGST will provide a strong base to address incremental opportunities for WD utilizing other forms of storage, such as solid state and hybrid drives."
Flash drives, or solid-state drives (SSDs), are viewed by many as the future of the disk drive industry. They are faster, and unlike hard disk drives they have no moving parts and hence are more sturdy.
Although SSDs are still more expensive than traditional hard disk drives (HDD), they are increasingly being built into laptop PCs and tablet computers like Apple's iPad as they are more durable and consume less power.
Seagate was trading at $13.51, gaining $1.07, or 8.62 percent, as of 12:52PM EST. Hitachi was at $64.17, up $2.93, or 4.78 percent. Western Digital was at $33.47, up $3.46, or 11.53 percent.
Full Story
Thursday, January 20, 2011
Needham Positive on Seagate Technology (NASDAQ:STX)
Citing a number of factors, Needham & Company said they remain positive with their outlook on Seagate Technology (NASDAQ:STX).
Needham says, "We remain positive on Seagate given: 1) leading position for the next areal density transition; 2) significant buyback in place with material dividend yield possible; 3) placement at epicenter of increased IT spending for 2011; and 4) significant upside to current estimates after conservative industry guides...For F3Q, we forecast $2.67B and $0.25. F11 becomes $10.6B and $1.14 vs. $10.7B and $1.40 (mostly due to taxes - $0.06, interest - $0.06 plus the $0.09 hit from the one-time item in F2Q). F12 becomes $11.2B and $2.43, vs. our previous $11.8B and $2.35."
Needham & Company maintains a "Strong Buy" rating on Seagate Technology (STX), which was trading at $13.04, losing $1.09, or 7.71 percent, as of 1:11 PM EST. Needham has a price target of $19 on Seagate.
Needham says, "We remain positive on Seagate given: 1) leading position for the next areal density transition; 2) significant buyback in place with material dividend yield possible; 3) placement at epicenter of increased IT spending for 2011; and 4) significant upside to current estimates after conservative industry guides...For F3Q, we forecast $2.67B and $0.25. F11 becomes $10.6B and $1.14 vs. $10.7B and $1.40 (mostly due to taxes - $0.06, interest - $0.06 plus the $0.09 hit from the one-time item in F2Q). F12 becomes $11.2B and $2.43, vs. our previous $11.8B and $2.35."
Needham & Company maintains a "Strong Buy" rating on Seagate Technology (STX), which was trading at $13.04, losing $1.09, or 7.71 percent, as of 1:11 PM EST. Needham has a price target of $19 on Seagate.
Friday, January 14, 2011
Barclays Reviews IBM (NYSE:IBM), Apple (Nasdaq:AAPL), Ingram Micro (NYSE:IM)Western Digital (Nasdaq:WDC), Seagate (NYSE:STX), EMC (NYSE:EMC), Xerox (NYSE:XRX) and Lexmark (NYSE:LXK)
Barclays gave a review of companies in IT Hardware, covering IBM (NYSE:IBM), Apple (Nasdaq:AAPL), Western Digital (Nasdaq:WDC), Seagate (NYSE:STX), EMC (NYSE:EMC), Xerox (NYSE:XRX), Lexmark (NYSE:LXK) and Ingram Micro (NYSE:IM), as earnings season approaches.
Apple (AAPL) on January 18 - Strong Momentum in All Products: We recently raised our EPS estimates for Apple for F1Q11 thru FY12 due to prospects for higher Mac, iPhone & iPad sales. We also believe our gross margin forecast of 37% for C4Q could have potential for upside. Guidance is likely to remain conservative. Reiterate Overweight.
IBM (IBM) on January 18 - Strong Hardware, Subdued Signings: We see upside to EPS & 2011 guidance, but signings trends may mute some optimism. IBM will also shift to reporting results and guidance on an operating basis. Make sure you are ready.
Western Digital (WDC) on January 18 - Margins Improving: Our recent checks within the HDD industry indicate that industry trends have been improving throughout C4Q and indications for demand and pricing (C4Q and outlook into 2CQ 11) appear to be quite stable as HDD makers remain disciplined. WD margins could benefit. Reiterate Overweight.
Ingram Micro (IM) on February 10 - Solid Top Line: We believe IM will issue a positive 4Q report with potential for revenue upside & some EPS leverage. We would expect the stock to see support in the $19-$20 range at report (around estimated BV/TBV).
Seagate (STX) on January 19 - Buybacks & Some Stability: EPS could see upside as a result of margin upside & the recently announced $2B share repurchase program, which could amount to $300-$400 per quarter.
EMC (EMC) on January 25- Expecting Upside due to High-end Strength: Our checks indicate that EMC's 4Q10 may be tracking above the upper end of its guidance and could see a few cents upside given continued strong demand for its high-end & cloud offerings.
Xerox (XRX) on January 26 - Another Steady Performance: We believe Xerox is set to post modest upside to our $0.28 with solid cash flow, helped by share gains & cost controls. Given XRX raised 2011 guidance in C3Q, we do not look for any major change to outlook. Focus will likely be around plans for major share repurchase in 2H11.
Lexmark (LXK) on February 1 - Watching Europe: We believe LXK's 4Q10 EPS has potential upside to consensus of $1.11 (LXK guided $1.03-$1.13) w/support from a lower tax rate (extension of R&D credit). However, we wouldn't be surprised to see EPS guidance below the street for 1Q11 given typical conservatism & some weakness in Europe.
Apple (AAPL) on January 18 - Strong Momentum in All Products: We recently raised our EPS estimates for Apple for F1Q11 thru FY12 due to prospects for higher Mac, iPhone & iPad sales. We also believe our gross margin forecast of 37% for C4Q could have potential for upside. Guidance is likely to remain conservative. Reiterate Overweight.
IBM (IBM) on January 18 - Strong Hardware, Subdued Signings: We see upside to EPS & 2011 guidance, but signings trends may mute some optimism. IBM will also shift to reporting results and guidance on an operating basis. Make sure you are ready.
Western Digital (WDC) on January 18 - Margins Improving: Our recent checks within the HDD industry indicate that industry trends have been improving throughout C4Q and indications for demand and pricing (C4Q and outlook into 2CQ 11) appear to be quite stable as HDD makers remain disciplined. WD margins could benefit. Reiterate Overweight.
Ingram Micro (IM) on February 10 - Solid Top Line: We believe IM will issue a positive 4Q report with potential for revenue upside & some EPS leverage. We would expect the stock to see support in the $19-$20 range at report (around estimated BV/TBV).
Seagate (STX) on January 19 - Buybacks & Some Stability: EPS could see upside as a result of margin upside & the recently announced $2B share repurchase program, which could amount to $300-$400 per quarter.
EMC (EMC) on January 25- Expecting Upside due to High-end Strength: Our checks indicate that EMC's 4Q10 may be tracking above the upper end of its guidance and could see a few cents upside given continued strong demand for its high-end & cloud offerings.
Xerox (XRX) on January 26 - Another Steady Performance: We believe Xerox is set to post modest upside to our $0.28 with solid cash flow, helped by share gains & cost controls. Given XRX raised 2011 guidance in C3Q, we do not look for any major change to outlook. Focus will likely be around plans for major share repurchase in 2H11.
Lexmark (LXK) on February 1 - Watching Europe: We believe LXK's 4Q10 EPS has potential upside to consensus of $1.11 (LXK guided $1.03-$1.13) w/support from a lower tax rate (extension of R&D credit). However, we wouldn't be surprised to see EPS guidance below the street for 1Q11 given typical conservatism & some weakness in Europe.
Thursday, January 6, 2011
Seagate (NYSE:STX), Western Digital (NYSE:WDC), Hewlett-Packard (NYSE:HPQ), SMART Modular (Nasdaq:SMOD) Top IT Hardware Picks of Needham in 2011
Talking technology trends emerging in 2011, Needham & Company said their favorite picks are Seagate Technology (NYSE:STX), Western Digital (NYSE:WDC), Hewlett-Packard (NYSE:HPQ) and SMART Modular Technologies (Nasdaq:SMOD).
Needham noted, "Although there are multiple ways to participate in the industry and technology trends we see unfolding in 2011, our top picks for investors are Seagate Technology (Strong Buy), Western Digital (Strong Buy), Hewlett-Packard (Strong Buy) and SMART Modular Technologies (Buy). For STX and WDC, we see the companies benefiting from a recovery in pricing and margins within the industry as well as robust demand from PC and data center spending. HPQ is a top pick given its broad product reach into PCs, servers, networking and services, as well as its likely meaningful participation within the tablet world. Finally, we see SMOD as a highly leveraged play on PC and server growth (with the call option of the SSD business). Further, we view the stock’s recent pullback owing to aggressive DRAM pricing as a unique buying opportunity. In this report, we take a look back at 2010 and the events that shaped the performance within our coverage universe. We then look forward to 2011 and some of the themes and investment opportunities for investors."
Seagate closed Wednesday at $14.70, down $0.08, or 0.54 percent. Western Digital closed at $32.79, losing $0.20, or 0.61 percent. Hewlett-Packard closed at $44.20, gaining $0.57, or 1.31 percent. SMART Modular closed at $5.91, up $0.11, or 1.90 percent.
Needham noted, "Although there are multiple ways to participate in the industry and technology trends we see unfolding in 2011, our top picks for investors are Seagate Technology (Strong Buy), Western Digital (Strong Buy), Hewlett-Packard (Strong Buy) and SMART Modular Technologies (Buy). For STX and WDC, we see the companies benefiting from a recovery in pricing and margins within the industry as well as robust demand from PC and data center spending. HPQ is a top pick given its broad product reach into PCs, servers, networking and services, as well as its likely meaningful participation within the tablet world. Finally, we see SMOD as a highly leveraged play on PC and server growth (with the call option of the SSD business). Further, we view the stock’s recent pullback owing to aggressive DRAM pricing as a unique buying opportunity. In this report, we take a look back at 2010 and the events that shaped the performance within our coverage universe. We then look forward to 2011 and some of the themes and investment opportunities for investors."
Seagate closed Wednesday at $14.70, down $0.08, or 0.54 percent. Western Digital closed at $32.79, losing $0.20, or 0.61 percent. Hewlett-Packard closed at $44.20, gaining $0.57, or 1.31 percent. SMART Modular closed at $5.91, up $0.11, or 1.90 percent.
Friday, December 10, 2010
Buy Seagate Technology (NASDAQ:STX) on Pull Backs Says Brean
Brean Murray Carret & Co. liked what they heard with Seagate Technology (NASDAQ:STX), based on buying back shares and a $1.18 billion raise in credit.
Brean said, "We're raising our PT to $18 after 1) digesting STX's $2B share repurchase authorization announcement and 2) yesterday's announcement of up to a $1.18B credit raise - $750 private placement of notes and discussions for up to $350 million credit facility. Bottom line is we believe the stock likely continues to works its way higher, and we'd certainly continue to be buyers on any meaningful pull-backs."
Brean Murray Carret & Co. maintains a "Buy' on Seagate Technology, which closed Thursday at $15.14, up $0.07, or 0.46 percent. They raised their price target on them from $16 to $18.
Brean said, "We're raising our PT to $18 after 1) digesting STX's $2B share repurchase authorization announcement and 2) yesterday's announcement of up to a $1.18B credit raise - $750 private placement of notes and discussions for up to $350 million credit facility. Bottom line is we believe the stock likely continues to works its way higher, and we'd certainly continue to be buyers on any meaningful pull-backs."
Brean Murray Carret & Co. maintains a "Buy' on Seagate Technology, which closed Thursday at $15.14, up $0.07, or 0.46 percent. They raised their price target on them from $16 to $18.
Wednesday, December 1, 2010
Invest in Seagate (NASDAQ:STX) Advises Needham
Not only does Needham & Company advise investors to invest in Seagate Technology (NASDAQ:STX), they suggest the snap up shares aggressively at the current price level.
Talks with private equity firms have been halted because of improved conditions.
Needham said, "While the next few days could be volatile for the stock (suggesting a downgrade immediately followed by an upgrade) instead we will save the trees, and retain our Strong Buy (with $19 target based on 8x F12 EPS of $2.35). We encourage investors to aggressively purchase the shares at current levels and under as improved demand and a material buyback should drive the stock."
Seagate closed Tuesday at $13.41, dropping $0.45, or 3.25 percent. Needham raised their price target on them from $17 to $19.
Talks with private equity firms have been halted because of improved conditions.
Needham said, "While the next few days could be volatile for the stock (suggesting a downgrade immediately followed by an upgrade) instead we will save the trees, and retain our Strong Buy (with $19 target based on 8x F12 EPS of $2.35). We encourage investors to aggressively purchase the shares at current levels and under as improved demand and a material buyback should drive the stock."
Seagate closed Tuesday at $13.41, dropping $0.45, or 3.25 percent. Needham raised their price target on them from $17 to $19.
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