Seagate Technology Reaches New 52-Week High (STX)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Seagate Technology (Nasdaq: STX) hit a new 52-week high Tuesday as it is currently trading at $35.89, above its previous 52-week high of $35.70 with 1.4 million shares traded as of 10:15 a.m. ET. Average volume has been 8.8 million shares over the past 30 days.

Seagate Technology has a market cap of $13.36 billion and is part of the technology sector and computer hardware industry. Shares are up 16.3% year to date as of the close of trading on Friday.

Seagate Technology Public Limited Company designs, manufactures, markets, and sells hard disk drives for enterprise storage, client compute, and client non-compute market applications worldwide. The company has a P/E ratio of 4.6, 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 robust revenue growth, solid stock price performance, notable return on equity, good cash flow from operations and compelling growth in net income. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Seagate Technology Ratings Report.

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