Seagate has bright long-term prospects-Barron's 04/15 01:54 PM .
NEW YORK, April 15 (Reuters) - Shares of Seagate Technology (STX:$27.38,00$0.395,01.46%) look appealing despite investor worries about competition and low margins in the disc drive sector, Barron's said in its April 16 edition.
Seagate (STX:$27.38,00$0.395,01.46%) will benefit from its strong market position and a shareholder-friendly management, which is stepping up share buybacks, Barron's said. The company and its rival Western Digital dominate the hard drive market.
Also helping Seagate (STX:$27.38,00$0.395,01.46%) is consolidation in the disc drive industry, which is down to three major manufacturers from eight a decade ago. That winnowing bodes well for disc driving pricing and margins over the long term, the article said. (Reporting By Dena Aubin; editing by Gunna Dickson)
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