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Seagate Technology Public Limited Company Message Board

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  • briannna614 briannna614 May 30, 2012 11:06 AM Flag

    Prices not coming down

    Thanks, at least now I can stop searching for accurate pricing... What are your thoughts on the massive buyback that STX has going. Normally I am more of a fan of returning capital to shareholders in the form of Divy's which stx does (the reason I got in last year) but such a large buyback which shrinks the float in such a large fashion has to be very bullish. Plus it helps on really ugly days when the company is there buying shares. What are your thoughts? Do you know any other companies in the middle of such a large buyback at the moment, and do they offer any yield?

    TIA

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    • We may not know exactly where pricing is at this moment but in the most recent earnings call Seagate raised gross margin guidance for the quarter from 33% to 34.5%.
      They also projected gross margins would remain above 30% exiting 2012.
      Management has handily beat on guidance each of the last four quarters and given their visibility today with the LTA's I'm betting they will beat again.
      Even if they only met their guidance, the valuation of this stock is ridiculously low in my opinion.

 
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