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Seagate Technology Stock Hits New 52-Week High (STX)

By TheStreet Wire 02/23/12 - 11:38 AM EST

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NEW YORK (TheStreet) -- Seagate Technology (Nasdaq:STX) hit a new 52-week high Thursday as it is currently trading at $27.33, above its previous 52-week high of $27.30 with four million shares traded as of 11:15 a.m. ET. Average volume has been 10.2 million shares over the past 30 days.

Seagate Technology has a market cap of $8.29 billion and is part of the technology sector and computer hardware industry. Shares are up 61.3% year to date as of the close of trading on Wednesday.

Seagate Technology Public Limited Company designs, manufactures, markets, and sells hard disk drives for enterprise, client compute, and client non-compute market applications worldwide. The company has a P/E ratio of 12.8, below the average computer hardware industry P/E ratio of 18 and below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Seagate Technology as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income, revenue growth, attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Seagate Technology Ratings Report.

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