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Seagate Ups Ante in Storage With New Solutions at CES 2019
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Seagate (STX - Free Report) kicked off the year by showcasing latest data storage solutions at CES 2019. Notably, CES is an annual technology tradeshow conducted by the Consumer Technology Association every year in January in Las Vegas.
The company expanded LaCie family by unveiling LaCie Mobile Drive and LaCie Mobile SSD, which it anticipates shipping by end of January. Both the storage solutions are designed to be compatible with Apple’s (AAPL - Free Report) Macbook and come with an included one-month subscription to All-Apps Plan from Adobe (ADBE - Free Report) .
In a bid to offer sturdy backup solutions, Seagate debuts Backup Plus family with Backup Plus Slim, Backup Plus Portable and Backup Plus Ultra Touch. The latest Backup Plus hard drives come with two-month membership plan for Adobe Creative Cloud (“CC”) Photography. The users can avail Life Calendar to streamline storytelling and multiple device synchronization with cloud-free backup potential.
Moreover, Seagate unveiled FireCuda 510 PCIe NVMe SSD, which is tailor-made for gaming enthusiasts. The SSD offers read and write speeds of up to 3,450 MB/s and 3,200 MB/s, respectively, to provide enhanced gaming experience. With sturdy 4K video processing capabilities and sleek M.2 2280 form factor Seagate is expected to strengthen its competitive position against Western Digital (WDC - Free Report) .
The latest BarraCuda 510 PCIe NVMe SSD is completely in sync with the company’s endeavor to provide enhanced performance to enable users to multi-task. The sleek M.2 form factor makes the device easily adoptable across mini-PCs, ultra-thin laptops, and desktops.
Seagate also unveiled IronWolf 110 SATA SSD custom-made SSD for Network Attached Storage (NAS) appliances to primarily target enterprise customers and business professionals.
Following the news, shares of Seagate were up almost 2.7%, yesterday. Notably, the company’s shares have fallen 14.8% in the past year, compared with the industry’s decline of 25.7%.
Specifications and Availability
LaCie Mobile Drive offers storage capacity of 5TB in order to cater to the expanding digital library. Meanwhile, LaCie Mobile SSD offers accelerated performance with file transfer speed of up to 540MB/s and 2TB of storage capacity, enabling users to edit 4K videos in real time.
Talking about the Backup Plus family, per reports, 1TB variant of Backup Plus Slim is priced at $60, while 2TB device is priced $80. Backup Plus Portable variants of 4TB and 5TB storage capacities are priced at $120 and $130, respectively. Seagate unleashed Backup Plus Ultra Touch in 1TB and 2TB storage capacities at $70 and $90, respectively.
Management anticipates commencing the shipping of both Backup Plus Portable and Backup Plus Slim products in March, and Backup Plus Ultra Touch in February.
Notably, management announced that latest BarraCuda and FireCuda SSDs will be “available this spring.”
Meanwhile, IronWolf 110 SSD features Durawrite technology, offering 3.84TB storage capacity with endurance levels of up to 700 TBW. Seagate announced that shipping will begin in January.
Abundant Market Prospects
Notably, per recent IDC estimates, the global datasphere will grow to 175 zettabytes (that is a trillion gigabytes) by 2025, from 33 zettabytes in 2018. This exponential growth is expected to favor the adoption of Seagate’s new hardware solutions.
We believe Seagate’s new storage solutions are well poised to benefit from the strong demand of gaming PCs. In fact, per Gartner, PC shipments in the third quarter increased 0.1% year over year to 67.2 million units.
Notably, growth in the gaming hardware market is driving demand for NVMe SSDs as well. Per MarketsandMarkets report, the non-volatile memory market is projected to witness a CAGR of 9.5% from 2017 to reach approximately $82 billion by 2022.
Per Technavio research report, the global enterprise SSD controller market is forecasted to witness a CAGR of around 26% from 2018 to 2022.
The aforementioned reports reflect robust demand for storage systems across various levels, strengthening the prospects of the newly offered solutions.
Our Take
Anticipating a potential acceleration in cloud deployments (due to exponential growth in data storage in the cloud), Seagate is investing heavily in order to deliver high-capacity storage devices that would support expansion of cloud infrastructure and cloud applications.
Moreover, increasing traction for mass storage solutions across the company’s edge and enterprise markets is a tailwind. Notably, total hard disk drive ("HDD") revenues went up 17% year over year to $2.801 billion during the first quarter of fiscal 2019.
We believe this ongoing expansion of its product portfolio is anticipated to garner incremental revenues in the quarters ahead, which bodes well for the top line. Further, we expect the company to compete better against other storage players in the market with the strengthened portfolio.
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Image: Bigstock
Seagate Ups Ante in Storage With New Solutions at CES 2019
Seagate (STX - Free Report) kicked off the year by showcasing latest data storage solutions at CES 2019. Notably, CES is an annual technology tradeshow conducted by the Consumer Technology Association every year in January in Las Vegas.
The company expanded LaCie family by unveiling LaCie Mobile Drive and LaCie Mobile SSD, which it anticipates shipping by end of January. Both the storage solutions are designed to be compatible with Apple’s (AAPL - Free Report) Macbook and come with an included one-month subscription to All-Apps Plan from Adobe (ADBE - Free Report) .
In a bid to offer sturdy backup solutions, Seagate debuts Backup Plus family with Backup Plus Slim, Backup Plus Portable and Backup Plus Ultra Touch. The latest Backup Plus hard drives come with two-month membership plan for Adobe Creative Cloud (“CC”) Photography. The users can avail Life Calendar to streamline storytelling and multiple device synchronization with cloud-free backup potential.
Moreover, Seagate unveiled FireCuda 510 PCIe NVMe SSD, which is tailor-made for gaming enthusiasts. The SSD offers read and write speeds of up to 3,450 MB/s and 3,200 MB/s, respectively, to provide enhanced gaming experience. With sturdy 4K video processing capabilities and sleek M.2 2280 form factor Seagate is expected to strengthen its competitive position against Western Digital (WDC - Free Report) .
The latest BarraCuda 510 PCIe NVMe SSD is completely in sync with the company’s endeavor to provide enhanced performance to enable users to multi-task. The sleek M.2 form factor makes the device easily adoptable across mini-PCs, ultra-thin laptops, and desktops.
Seagate also unveiled IronWolf 110 SATA SSD custom-made SSD for Network Attached Storage (NAS) appliances to primarily target enterprise customers and business professionals.
Following the news, shares of Seagate were up almost 2.7%, yesterday. Notably, the company’s shares have fallen 14.8% in the past year, compared with the industry’s decline of 25.7%.
Specifications and Availability
LaCie Mobile Drive offers storage capacity of 5TB in order to cater to the expanding digital library. Meanwhile, LaCie Mobile SSD offers accelerated performance with file transfer speed of up to 540MB/s and 2TB of storage capacity, enabling users to edit 4K videos in real time.
Talking about the Backup Plus family, per reports, 1TB variant of Backup Plus Slim is priced at $60, while 2TB device is priced $80. Backup Plus Portable variants of 4TB and 5TB storage capacities are priced at $120 and $130, respectively. Seagate unleashed Backup Plus Ultra Touch in 1TB and 2TB storage capacities at $70 and $90, respectively.
Management anticipates commencing the shipping of both Backup Plus Portable and Backup Plus Slim products in March, and Backup Plus Ultra Touch in February.
Notably, management announced that latest BarraCuda and FireCuda SSDs will be “available this spring.”
Meanwhile, IronWolf 110 SSD features Durawrite technology, offering 3.84TB storage capacity with endurance levels of up to 700 TBW. Seagate announced that shipping will begin in January.
Abundant Market Prospects
Notably, per recent IDC estimates, the global datasphere will grow to 175 zettabytes (that is a trillion gigabytes) by 2025, from 33 zettabytes in 2018. This exponential growth is expected to favor the adoption of Seagate’s new hardware solutions.
We believe Seagate’s new storage solutions are well poised to benefit from the strong demand of gaming PCs. In fact, per Gartner, PC shipments in the third quarter increased 0.1% year over year to 67.2 million units.
Notably, growth in the gaming hardware market is driving demand for NVMe SSDs as well. Per MarketsandMarkets report, the non-volatile memory market is projected to witness a CAGR of 9.5% from 2017 to reach approximately $82 billion by 2022.
Per Technavio research report, the global enterprise SSD controller market is forecasted to witness a CAGR of around 26% from 2018 to 2022.
The aforementioned reports reflect robust demand for storage systems across various levels, strengthening the prospects of the newly offered solutions.
Our Take
Anticipating a potential acceleration in cloud deployments (due to exponential growth in data storage in the cloud), Seagate is investing heavily in order to deliver high-capacity storage devices that would support expansion of cloud infrastructure and cloud applications.
Moreover, increasing traction for mass storage solutions across the company’s edge and enterprise markets is a tailwind. Notably, total hard disk drive ("HDD") revenues went up 17% year over year to $2.801 billion during the first quarter of fiscal 2019.
We believe this ongoing expansion of its product portfolio is anticipated to garner incremental revenues in the quarters ahead, which bodes well for the top line. Further, we expect the company to compete better against other storage players in the market with the strengthened portfolio.
Zacks Rank
Seagate carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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