Seagate Technology plc [NASDAQ: STX] traded at a high on 12/03/20, posting a 1.86 gain after which it closed the day’ session at $62.34. The company report on December 4, 2020 that Seagate Announces Pricing of $1 Billion of Senior Unsecured Notes.
Seagate HDD Cayman (the “Company”), a subsidiary of Seagate Technology plc (NASDAQ: STX) (“Seagate”), announced that it priced its earlier announced offering of $500 million aggregate principal amount of senior notes due 2029 (the “2029 Notes”) and $500 million aggregate principal amount of senior notes due 2031 (the “2031 Notes” and, together with the 2029 Notes, the “Notes”). The 2029 Notes were priced at 100% of the aggregate principal amount and will bear interest at a rate of 3.125% per annum. The 2031 Notes were priced at 100% of the aggregate principal amount and will bear interest at a rate of 3.375% per annum. The Notes will be guaranteed by Seagate.
The Notes are being sold in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and in offshore transactions under Regulation S under the Securities Act. The sale of the Notes is expected to close on December 8, 2020, subject to customary closing conditions.
The results of the trading session contributed to over 3645965 shares changing hands. Over the past one week, the price volatility of Seagate Technology plc stands at 2.43% while the volatility over the past one month is 2.47%.
The market cap for STX stock reached $15.98 billion, with 259.00 million shares outstanding and 255.50 million shares in the current float. Compared to the average trading volume of 2.95M shares, STX reached a trading volume of 3645965 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Seagate Technology plc [STX]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for STX shares is $53.74 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on STX stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Benchmark Company have made an estimate for Seagate Technology plc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 23, 2020. While these analysts kept the previous recommendation, Cowen raised their target price from $44 to $48. The new note on the price target was released on October 23, 2020, representing the official price target for Seagate Technology plc stock. Previously, the target price had yet another raise to $65, while Northland Capital analysts kept a Outperform rating on STX stock. On August 04, 2020, analysts increased their price target for STX shares from 41 to 46.
The Average True Range (ATR) for Seagate Technology plc is set at 1.42, with the Price to Sales ratio for STX stock in the period of the last 12 months amounting to 1.56. The Price to Book ratio for the last quarter was 9.03, with the Price to Cash per share for the same quarter was set at 6.72. Price to Free Cash Flow for STX in the course of the last twelve months was 33.78 with Quick ratio for the last quarter at 1.10.
How has STX stock performed recently?
Seagate Technology plc [STX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.86. With this latest performance, STX shares gained by 23.81% in over the last four-week period, additionally plugging by 14.62% over the last 6 months – not to mention a rise of 6.31% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for STX stock in for the last two-week period is set at 82.58, with the RSI for the last a single of trading hit 87.28, and the three-weeks RSI is set at 77.55 for Seagate Technology plc [STX]. The present Moving Average for the last 50 days of trading for this stock 52.59, while it was recorded at 60.22 for the last single week of trading, and 49.38 for the last 200 days.
Seagate Technology plc [STX]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Seagate Technology plc [STX] shares currently have an operating margin of +13.18 and a Gross Margin at +26.94. Seagate Technology plc’s Net Margin is presently recorded at +9.55.
Return on Total Capital for STX is now 22.27, given the latest momentum, and Return on Invested Capital for the company is 16.18. Return on Equity for this stock inclined to 50.85, with Return on Assets sitting at 11.27. When it comes to the capital structure of this company, Seagate Technology plc [STX] has a Total Debt to Total Equity ratio set at 237.16. Additionally, STX Total Debt to Total Capital is recorded at 70.34, with Total Debt to Total Assets ending up at 47.46. Long-Term Debt to Equity for the company is recorded at 235.31, with the Long-Term Debt to Total Capital now at 69.79.
Reflecting on the efficiency of the workforce at the company, Seagate Technology plc [STX] managed to generate an average of $23,905 per employee. Receivables Turnover for the company is 9.99 with a Total Asset Turnover recorded at a value of 1.18.Seagate Technology plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.50.
Earnings analysis for Seagate Technology plc [STX]
With the latest financial reports released by the company, Seagate Technology plc posted 1.35/share EPS, while the average EPS was predicted by analysts to be reported at 1.32/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for STX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Seagate Technology plc go to 4.49%.
Insider trade positions for Seagate Technology plc [STX]
There are presently around $13,645 million, or 88.80% of STX stock, in the hands of institutional investors. The top three institutional holders of STX stocks are: VALUEACT HOLDINGS, L.P. with ownership of 31,554,360, which is approximately 0% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 28,019,777 shares of the stock with an approximate value of $1.75 billion in STX stocks shares; and BLACKROCK INC., currently with $1.05 billion in STX stock with ownership of nearly -1.654% of the company’s market capitalization.
Positions in Seagate Technology plc stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 281 institutional holders increased their position in Seagate Technology plc [NASDAQ:STX] by around 13,017,080 shares. Additionally, 305 investors decreased positions by around 14,911,855 shares, while 88 investors held positions by with 190,956,239 shares. The mentioned changes placed institutional holdings at 218,885,174 shares, according to the latest SEC report filing. STX stock had 66 new institutional investments in for a total of 1,787,607 shares, while 88 institutional investors sold positions of 3,284,578 shares during the same period.