Tech Stock Updates: Seagate Technology PLC(NASDAQ:STX), International Business Machines Corp.(NYSE:IBM)

After Seagate Technology PLC(NASDAQ:STX) agreed to buy LSI’s flash assets, Pacific Crest thinks that the acquired assets may perform better than expected, while Seagate acquired the assets for an attractive price. Pacific Crest thinks Seagate’s valuation is attractive and recommends buying the stock.

Analysts have a consensus price target of $57 on Seagate Technology PLC(NASDAQ:STX) which indicates a 7% upside. The consensus rating of the stock is a BUY with a score of 2.53. There are currently 10 Buy ratings and 9 Hold ratings on the stock. A recent analyst action consisted of Zacks reiterating their Neutral rating with a price target of $55.

Seagate has a 50 day moving average of $52.43 and a 200 day moving average of $52.75. The company has a market cap of $17.53B and a current quarter EPS consensus estimate of $5.04.

International Business Machines Corp.(NYSE:IBM) CEO Ginni Rometty’s turnaround plan, utilizing big data and analytics as the company’s growth producer, could work, Barron’s contends in its cover article. IBM is still profitable, the paper adds.

Analysts have a consensus price target of $201 on International Business Machines Corp.(NYSE:IBM) which indicates a 9% upside. The consensus rating of the stock is a HOLD with a score of 2.31. There are currently 17 Hold ratings, 1 Sell rating, 1 Strong Buy and 7 Buy ratings on the stock. A recent analyst action consisted of Zacks reiterating their Neutral rating and $196 price target on the stock.

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