Seagate Technology Holdings plc (STX) Has Historically Traded At A Big Discount To The S&P, Says Jim Cramer

We recently published 13 Stocks That Jim Cramer Discussed. Seagate Technology Holdings plc (NASDAQ:STX) is one of the stocks Jim Cramer recently discussed.

Seagate Technology Holdings plc (NASDAQ:STX) is a computer hardware firm whose shares have gained 128% year-to-date to beat peer and rival Western Digital’s stock. Cramer’s latest comments about the firm are rather interesting since they mention its valuation. In an appearance in March, Cramer had called Seagate Technology Holdings plc (NASDAQ:STX)’s shares cheap. He had added that viewers who were looking for exposure to the firm’s market should prefer Broadcom’s shares instead. Since Cramer made those remarks, Seagate Technology Holdings plc (NASDAQ:STX)’s shares have gained 123% while Broadcom’s stock is up by 84.5%. The recent gains have led the CNBC TV host to change his mind about Seagate Technology Holdings plc (NASDAQ:STX)’s valuation:

“Look at Seagate, look at Western Digital. I mean those things are trading at, they are all storage companies.  They historically have traded at a very big discount to the S&P. . .”

Back in July, Cramer had taken a different position on Seagate Technology Holdings plc (NASDAQ:STX):

“Alright, Seagate. Okay, now this is a very cheap stock, but cheap for a reason. It’s because the business is very cutthroat and I suggest that if you wanted to go in this business, you wanted to go into storage, I am going to send you honestly to Broadcom. I’d rather see them, they got storage too.”

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Disclosure: None. This article is originally published at Insider Monkey.