The stock price of Seagate Technology Holdings Plc (NASDAQ: STX) has jumped by 0.71 compared to previous close of 105.88. Despite this, the company has seen a gain of 4.47% in its stock price over the last five trading days. seekingalpha.com reported 2024-09-18 that The exponential growth in data generation and AI projects boosts demand for Seagate’s storage solutions, ensuring long-term relevance and profitability. Despite outperforming major indexes, STX’s volatility remains somewhat risky, but its current lower trend channel position presents a better buying opportunity. Monitoring upcoming earnings reports from Seagate and Nvidia, along with the November election, is crucial for assessing Seagate’s future stock trajectory.
Is It Worth Investing in Seagate Technology Holdings Plc (NASDAQ: STX) Right Now?
Seagate Technology Holdings Plc (NASDAQ: STX) has a higher price-to-earnings ratio of 69.79x compared to its average ratio, The 36-month beta value for STX is at 1.06. Analysts have varying views on the stock, with 2 analysts rating it as a “buy,” 1 rating it as “overweight,” 19 as “hold,” and 3 as “sell.”
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
The public float for STX is 209.45M, and currently, shorts hold a 5.48% of that float. The average trading volume for STX on September 25, 2024 was 2.32M shares.
STX’s Market Performance
STX’s stock has seen a 4.47% increase for the week, with a 2.13% rise in the past month and a 2.79% gain in the past quarter. The volatility ratio for the week is 2.02%, and the volatility levels for the past 30 days are at 2.60% for Seagate Technology Holdings Plc. The simple moving average for the past 20 days is 5.25% for STX’s stock, with a 14.23% 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 5.29% 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 -6.11% of loss for the given period.
Volatility was left at 2.60%, however, over the last 30 days, the volatility rate increased by 2.02%, as shares surge +1.79% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -2.12% lower at present.
During the last 5 trading sessions, STX rose by +4.47%, which changed the moving average for the period of 200-days by +37.04% in comparison to the 20-day moving average, which settled at $101.40. In addition, Seagate Technology Holdings Plc saw 24.90% 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 Morris John Christopher, who sale 2,531 shares at the price of $101.83 back on Sep 16 ’24. After this action, Morris John Christopher now owns 6,405 shares of Seagate Technology Holdings Plc, valued at $257,732 using the latest closing price.
JOHN C MORRIS, the Officer of Seagate Technology Holdings Plc, proposed sale 2,531 shares at $101.83 during a trade that took place back on Sep 16 ’24, which means that JOHN C MORRIS is holding shares at $257,732 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 1.39.
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 4.15. 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
In conclusion, Seagate Technology Holdings Plc (STX) has had a better performance lately. Opinion on the stock among analysts is bearish, with some giving it a “sell” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
