Quick Win By the Algorithm: Seagate Technology

Quick Win by the Algorithm

Seagate Technology (STX)

On July 11th, 2016, the I Know First algorithm was bullish on Seagate Technology STX, giving a 12.94 signal, and 0.04 predictability index. Fourteen days later, STX experienced a quick win and rose 30.95%. Since then increased by a stanching 50.39% (+12.1) which analyst and the algorithm predicted would happen.

Quick Win by the Algorithm

Seagate Technology Public Limited Company (STX), designs, manufactures, and sells electronic data storage products in the Asia Pacific, the Americas, and EMEA countries. The company is based out of Dublin, Ireland.

Seagate was criticized for not making a similar purchase as the Western Digital WD how purchased SSD market by acquiring SanDisk. Instead, Seagate focused buying back over $1 billion in stock over the past 12 months, and trying to keep investors satisfied with a 7% forward yield. But dividend could prove unsustainable, since its payout ratio hit 293% in the past year.

A little over a month ago an I Know First analyst wrote an article about Seagate. Predicting a stock increase due to the consolidating PC market. Furthermore, Seagate will produce products that will outwit competitors. Strong smartphone sales would also help Seagate perform well. The I Know First algorithm also believed Seagate was undervalued. Since then, STX increased 25% which both the analyst and the algorithm predicted would happen.

 

Quick Win

This bullish forecast on STX was sent to current i know first subscribers on August.4.