Seagate Technology plc [NASDAQ: STX] gained 6.39% or 6.26 points to close at $104.23 with a heavy trading volume of 10340044 shares. The company report on April 23, 2021 that Seagate Technology Reports Fiscal Third Quarter 2021 Financial Results.
– Revenue of $2.73 billion– GAAP operating margin of 14.1%; non-GAAP operating margin of 15.4%– GAAP diluted earnings per share (EPS) of $1.39; non-GAAP diluted EPS of $1.48– Generated $378 million in cash flow from operations and $274 million in free cash flow– Returned $912 million to shareholders through dividends and the repurchase of 11.3 million ordinary shares– Declared cash dividend of $0.67 per share.
Seagate Technology plc (NASDAQ: STX) (the “Company” or “Seagate”), a world leader in data storage infrastructure solutions, reported financial results for its fiscal third quarter ended April 2, 2021.
It opened the trading session at $88.50, the shares rose to $99.07 and dropped to $88.42, the range by which the price of stock traded the whole day. The daily chart for STX points out that the company has recorded 95.96% gains over the past six months. However, it is still -139.44% lower than its most recent low trading price.
If we look at the average trading volume of 3.50M shares, STX reached to a volume of 10340044 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $88.38 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 2.50. 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.
Cowen have made an estimate for Seagate Technology plc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 17, 2021. The new note on the price target was released on February 18, 2021, representing the official price target for Seagate Technology plc stock. On January 22, 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 3.91, with the Price to Sales ratio for STX stock in the period of the last 12 months amounting to 2.08. The Price to Book ratio for the last quarter was 50.11, with the Price to Cash per share for the same quarter was set at 5.95. Price to Free Cash Flow for STX in the course of the last twelve months was 55.11 with Quick ratio for the last quarter at 0.80.
Trading performance analysis for STX stock
Seagate Technology plc [STX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.82. With this latest performance, STX shares gained by 27.00% in over the last four-week period, additionally plugging by 95.96% over the last 6 months – not to mention a rise of 118.19% 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 72.63, with the RSI for the last a single of trading hit 75.52, and the three-weeks RSI is set at 70.81 for Seagate Technology plc [STX]. The present Moving Average for the last 50 days of trading for this stock 82.54, while it was recorded at 92.10 for the last single week of trading, and 63.11 for the last 200 days.
Seagate Technology plc [STX]: A deeper dive into fundamental analysis
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 0.80 and a Current Ratio set at 1.20.
Seagate Technology plc [STX]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Seagate Technology plc posted 1.2/share EPS, while the average EPS was predicted by analysts to be reported at 1.29/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -7.00%. 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 8.22%.
An analysis of insider ownership at Seagate Technology plc [STX]
There are presently around $21,322 million, or 90.90% of STX stock, in the hands of institutional investors. The top three institutional holders of STX stocks are: VANGUARD GROUP INC with ownership of 25,166,779, which is approximately -6.345% of the company’s market cap and around 0.30% of the total institutional ownership; VALUEACT HOLDINGS, L.P., holding 23,011,223 shares of the stock with an approximate value of $2.4 billion in STX stocks shares; and BLACKROCK INC., currently with $1.57 billion in STX stock with ownership of nearly -8.123% of the company’s market capitalization.
Positions in Seagate Technology plc stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 278 institutional holders increased their position in Seagate Technology plc [NASDAQ:STX] by around 22,370,807 shares. Additionally, 350 investors decreased positions by around 26,348,529 shares, while 119 investors held positions by with 155,847,128 shares. The mentioned changes placed institutional holdings at 204,566,464 shares, according to the latest SEC report filing. STX stock had 90 new institutional investments in for a total of 1,284,083 shares, while 71 institutional investors sold positions of 1,571,482 shares during the same period.