Seagate Technology Holdings Plc (STX) Shares Decline Despite Market Challenges

Seagate Technology Holdings Plc (NASDAQ: STX)’s stock price has decreased by -3.08 compared to its previous closing price of 104.76. However, the company has seen a -1.95% decrease in its stock price over the last five trading sessions. zacks.com reported 2024-08-22 that We have narrowed our search to four high-flying non-U.S. corporate bigwigs with more upside left. These are: TSM, STX, SPOT, ETN.

Is It Worth Investing in Seagate Technology Holdings Plc (NASDAQ: STX) Right Now?

The price-to-earnings ratio for Seagate Technology Holdings Plc (NASDAQ: STX) is 66.45x, which is above its average ratio. Moreover, the 36-month beta value for STX is 1.06. Analysts have varying opinions on the stock, with 2 analysts rating it as a “buy,” 1 as “overweight,” 19 as “hold,” and 3 as “sell.”

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The public float for STX is 209.14M and currently, short sellers hold a 5.61% of that float. On August 27, 2024, STX’s average trading volume was 2.45M shares.

STX’s Market Performance

STX’s stock has seen a -1.95% decrease for the week, with a -1.79% drop in the past month and a 4.84% gain in the past quarter. The volatility ratio for the week is 1.83%, and the volatility levels for the past 30 days are at 2.95% for Seagate Technology Holdings Plc The simple moving average for the past 20 days is 2.47% for STX’s stock, with a 11.64% simple moving average for the past 200 days.

Analysts’ Opinion of STX

Many brokerage firms have already submitted their reports for STX stocks, with TD Cowen repeating the rating for STX by listing it as a “Buy.” The predicted price for STX in the upcoming period, according to TD Cowen is $135 based on the research report published on July 24, 2024 of the current year 2024.

BofA Securities, on the other hand, stated in their research note that they expect to see STX reach a price target of $110. The rating they have provided for STX stocks is “Buy” according to the report published on June 05th, 2024.

Citigroup gave a rating of “Buy” to STX, setting the target price at $110 in the report published on May 14th of the current year.

STX Trading at -0.81% from the 50-Day Moving Average

After a stumble in the market that brought STX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -10.60% of loss for the given period.

Volatility was left at 2.95%, however, over the last 30 days, the volatility rate increased by 1.83%, as shares surge +2.55% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -2.15% lower at present.

During the last 5 trading sessions, STX fell by -1.86%, which changed the moving average for the period of 200-days by +41.42% in comparison to the 20-day moving average, which settled at $99.21. In addition, Seagate Technology Holdings Plc saw 18.93% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at STX starting from MOSLEY WILLIAM D, who sale 20,000 shares at the price of $93.46 back on Aug 07 ’24. After this action, MOSLEY WILLIAM D now owns 654,270 shares of Seagate Technology Holdings Plc, valued at $1,869,217 using the latest closing price.

Romano Gianluca, the EVP & CFO of Seagate Technology Holdings Plc, sale 25,760 shares at $94.54 during a trade that took place back on Aug 07 ’24, which means that Romano Gianluca is holding 52,620 shares at $2,435,299 based on the most recent closing price.

Stock Fundamentals for STX

Current profitability levels for the company are sitting at:

  • 0.07 for the present operating margin
  • 0.23 for the gross margin

The net margin for Seagate Technology Holdings Plc stands at 0.05. The total capital return value is set at 0.1.

Based on Seagate Technology Holdings Plc (STX), the company’s capital structure generated 1.35 points at debt to capital in total, while cash flow to debt ratio is standing at 0.16. The debt to equity ratio resting at -3.85. The interest coverage ratio of the stock is 2.74.

Currently, EBITDA for the company is 696.0 million with net debt to EBITDA at 7.34. When we switch over and look at the enterprise to sales, we see a ratio of 3.96. The receivables turnover for the company is 12.15for trailing twelve months and the total asset turnover is 0.85. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.08.

Conclusion

To wrap up, the performance of Seagate Technology Holdings Plc (STX) has been mixed in recent times. The stock has received a bearish of “sell” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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