Seagate Technology Stock Gaps Up On Today's Open (STX)

NEW YORK ( TheStreet) -- Shares of Seagate Technology (Nasdaq: STX) were gapping up Thursday morning with an open price 10.7% higher than Wednesday's closing price. The stock closed at $26.31 Wednesday and opened today's trading at $29.12.

The average volume for Seagate Technology has been 12.9 million shares per day over the past 30 days. Seagate Technology has a market cap of $11.25 billion and is part of the technology sector and computer hardware industry. Shares are up 60.4% 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 six, below the average computer hardware industry P/E ratio of 6.1 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.

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