Seagate Technology Rises On Unusually High Volume (STX)

NEW YORK ( TheStreet) -- Seagate Technology (Nasdaq: STX) is trading at unusually high volume Friday with 58 million shares changing hands. It is currently at 4.4 times its average daily volume and trading up $1.48 (+6.4%) at $24.73 as of 4 p.m. ET.

Seagate Technology has a market cap of $10.43 billion and is part of the technology sector and computer hardware industry. Shares are up 49.6% year to date as of the close of trading on Thursday.

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 5.5, below the average computer hardware industry P/E ratio of 5.7 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Seagate Technology as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, notable return on equity, attractive valuation levels and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Seagate Technology Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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