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Seagate Unveils New LaCie Storage Solutions at NAB 2019

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Seagate Technology (STX - Free Report) recently expanded LaCie family by unveiling LaCie Rugged RAID Shuttle and LaCie 2big RAID data storage solutions. The company showcased the offerings at the 2019 NAB Show held at Las Vegas, NV.

Both the storage solutions designed by celebrated product designer, Neil Poulton, come with one-month subscription to Creative Cloud All-Apps Plan from Adobe (ADBE - Free Report) .

We believe that Seagate is well poised to reinforce its competitive position in the enterprise storage market against Western Digital (WDC - Free Report) on the back of latest solutions boasting robust features and compact design.

Notably, shares of Seagate have returned 29.6% year to date, outperforming industry’s rally of 27.1%.

Features, Availability & Pricing

LaCie Rugged RAID Shuttle offers storage capacity of 8TB in order to cater to the expanding digital library of creative professionals.

The device is also embedded with the company’s Secure Hardware Encryption mechanism to improve data privacy and prevent intellectual property theft.

Per the press release, the device “offers up to 250 MB/s in RAID 0 for performance, and RAID 1 for data redundancy.”

Notably, RAID or “redundant array of independent disks” storage technology unites multiple disk drive mechanism into a unified logical unit such that it behaves as a standalone drive in connectionwith any other hardware device.

Seagate anticipates shipping the device in May at MSRP of $529.99.

Meanwhile, LaCie 2big RAID offers accelerated performance with file transfer speed of up to 440MB/s and storage capacity of upto 16TB to facilitate desktop storage.

The device comes with pre-formatted exFAT infrastructure which is made available via LaCie Toolkit. The company anticipates shipping the device in this month.

The three variants featuring memory capacities of 4TB, 8TB and 16 TB are priced at MSRPs of $419, $529 and $739, respectively.

Key Takeaways

Seagate is investing heavily in order to deliver high-capacity storage devices that would support growth in digital content creation fueled by media and entertainment industry.

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. Coming to M&E domain, the report specifies that data generated will witness a CAGR of 25% in 2018-2025 time period.

This exponential growth is expected to favor the prospects of Seagate’s new hardware solutions aimed at creative professionals.

Moreover, Seagate’s LaCie family storage solutions are designed to be compatible with Apple’s (AAPL - Free Report) Macbook and other PCs, which is noteworthy.

We believe this ongoing expansion of its product portfolio is likely to generate incremental revenues in the quarters ahead, which bodes well for the top line.

Zacks Rank

Seagate currently 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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