2 Stocks Hitting 52-Week Highs: STX, TPX
Both of these stocks received a buy rating from TheStreet Ratings.
The hard disk drive company reports its third-quarter results on Tuesday. Analysts, on average, anticipate earnings of $2.11 a share on revenue of $4.38 billion.
"While we are not surprised by the recent price declines in the channel relative to prices in the immediate aftermath of the Thai flooding, we believe STX in its earnings report next week is likely to provide enough evidence of its post-Samsung-consolidation gross margin and operating margin leverage to reaffirm our thesis that the HDD industry is in the midst of a significantly positive structural change and potentially could lead to a revision of consensus street estimates of steady state normalized EPS closer to our estimate of $8/share," ThinkEquity analysts wrote in an April 9 report. "Hence, we recommend buying STX shares into the print."
Shares of Seagate Technology hit a 52-week high Monday of $29. The stock's 52-week low of $9.05 was set on Oct. 4.
Sixteen of the 22 analysts who cover Seagate Technology rate it at buy. Seven analysts give the stock a hold rating and one rates it at sell.