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 Wednesday as it is currently trading at $43.62, above its previous 52-week high of $43.60 with 1.5 million shares traded as of 12:50 p.m. ET. Average volume has been 5.5 million shares over the past 30 days.

Seagate Technology has a market cap of $15.36 billion and is part of the technology sector and computer hardware industry. Shares are up 40.9% year to date as of the close of trading on Tuesday.

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 6.9, 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, notable return on equity and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Seagate Technology Ratings Report.

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