Memory chip stocks decline, with WDC and SNDK down 4%, STX decreasing by 3%, and MU shares falling 1%.
Written by Emily J. Thompson, Senior Investment Analyst
Source: moomoo
Memory Chip Stocks: Memory chip stocks have experienced a pullback in the market.
WD, CAND, and SN: Companies like WD, CAND, and SN have seen a drop of 4% in their stock prices.
STX Performance: STX has also fallen by 3%, indicating a broader trend in the sector.
MU Shares: MU shares are down by 1%, contributing to the overall decline in memory chip stocks.
Analyst Views on STX
Wall Street analysts forecast STX stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for STX is 310.39 USD with a low forecast of 150.00 USD and a high forecast of 465.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
18 Analyst Rating
14 Buy
3 Hold
1 Sell
Moderate Buy
Current: 344.220
Low
150.00
Averages
310.39
High
465.00
Current: 344.220
Low
150.00
Averages
310.39
High
465.00
About STX
Seagate Technology Holdings plc provides mass-data storage infrastructure solution. The Company’s principal products are hard disk drives, commonly referred to as disk drives, hard drives (HDDs). In addition to HDDs, the Company produces a range of data storage products, including solid state drives (SSDs), solid state hybrid drives, storage subsystems, as well as a scalable edge-to-cloud mass data platform. Its HDD products are designed for mass capacity storage and legacy markets. Mass capacity storage involves use cases, such as hyperscale data centers and public clouds, as well as emerging use cases. The Company’s HDD and SSD product portfolio includes Serial Advanced Technology Attachment, Serial Attached SCSI and Non-Volatile Memory Express based designs to support a variety of mass capacity and legacy applications. Its systems portfolio includes storage subsystems for enterprises, cloud service providers, scale-out storage servers and original equipment manufacturers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
