BofA Securities slashes price target on Seagate Technology plc [STX] – find out why.

Seagate Technology plc [NASDAQ: STX] price plunged by -5.70 percent to reach at -$4.33. The company report on February 24, 2021 that Seagate Unveils Lyve Cloud Built to Store, Activate, and Manage the Massive Surge in Data.

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Collaboration with Equinix brings additional access, compute, and data center colocation.


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Seagate Technology plc (NASDAQ: STX), a world leader in data storage and management solutions, introduced LyveTM Cloud storage-as-a-service platform, an S3-compatible storage-only cloud. Lyve Cloud enables always-on mass capacity data storage and activation. It is designed as a simple, trusted, and efficient service allowing enterprises to unlock the value of their massive unstructured datasets. Seagate is collaborating with Equinix, the world’s digital infrastructure company, to make Lyve Cloud accessible to more customers. This collaboration will provide extensive interconnect opportunities for additional cloud services and geographical expansion.

A sum of 8286992 shares traded at recent session while its average daily volume was at 3.51M shares. Seagate Technology plc shares reached a high of $73.45 and dropped to a low of $70.36 until finishing in the latest session at $71.61.

The one-year STX stock forecast points to a potential upside of 5.15. The average equity rating for STX stock is currently 2.60, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $75.50 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 2.60. 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.

BofA Securities have made an estimate for Seagate Technology plc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 18, 2021. The new note on the price target was released on January 22, 2021, representing the official price target for Seagate Technology plc stock. Previously, the target price had yet another raise from $60 to $70, while The Benchmark Company kept a Buy rating on STX stock. On January 19, 2021, analysts increased their price target for STX shares from 60 to 70.

The Average True Range (ATR) for Seagate Technology plc is set at 3.01, with the Price to Sales ratio for STX stock in the period of the last 12 months amounting to 1.66. The Price to Book ratio for the last quarter was 17.99, with the Price to Cash per share for the same quarter was set at 7.64. Price to Free Cash Flow for STX in the course of the last twelve months was 46.58 with Quick ratio for the last quarter at 1.10.

STX Stock Performance Analysis:

Seagate Technology plc [STX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.70. With this latest performance, STX shares gained by 7.23% in over the last four-week period, additionally plugging by 52.14% over the last 6 months – not to mention a rise of 39.21% 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 52.64, with the RSI for the last a single of trading hit 48.26, and the three-weeks RSI is set at 55.10 for Seagate Technology plc [STX]. The present Moving Average for the last 50 days of trading for this stock 66.40, while it was recorded at 73.42 for the last single week of trading, and 54.81 for the last 200 days.

Insight into Seagate Technology plc 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 1.60.

STX Stock EPS

With the latest financial reports released by the company, Seagate Technology plc posted 1.38/share EPS, while the average EPS was predicted by analysts to be reported at 1.3/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.20%. 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 6.75%.

Seagate Technology plc [STX] Insider Position Details

There are presently around $14,847 million, or 90.60% 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 30,146,673, which is approximately -4.461% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 26,871,930 shares of the stock with an approximate value of $1.92 billion in STX stocks shares; and BLACKROCK INC., currently with $1.17 billion in STX stock with ownership of nearly -2.59% of the company’s market capitalization.

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Positions in Seagate Technology plc stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 314 institutional holders increased their position in Seagate Technology plc [NASDAQ:STX] by around 14,909,204 shares. Additionally, 310 investors decreased positions by around 25,482,353 shares, while 97 investors held positions by with 166,933,039 shares. The mentioned changes placed institutional holdings at 207,324,596 shares, according to the latest SEC report filing. STX stock had 137 new institutional investments in for a total of 5,192,018 shares, while 52 institutional investors sold positions of 5,912,505 shares during the same period.

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