Market cap of Seagate Technology Holdings plc [STX] reaches 11.31B – now what?

Seagate Technology Holdings plc [NASDAQ: STX] gained 3.54% or 1.86 points to close at $54.43 with a heavy trading volume of 2433571 shares. The company report on December 1, 2022 that Rising Cost of Data, a Sleeping Giant for UK Businesses.

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Seagate expands Lyve Cloud to UK, helping businesses address ‘unsustainable’ cost of data storage and management.

Seagate® Lyve™ Cloud storage as a service is expanding to the UK to help address the rising costs of data management. In a new survey (available on demand) “The UK data management costs and opportunities index, 2022 edition” from Seagate Technology (NASDAQ: STX), British businesses are spending an average of £213,000 per year just on storing and managing their own data. The survey reveals companies are prioritising spending on data over energy costs, as well as employee welfare and training. The findings, which come during today’s global macro-economic crisis, highlight the urgent need for businesses to rein in their data costs.

It opened the trading session at $52.98, the shares rose to $54.98 and dropped to $52.80, the range by which the price of stock traded the whole day. The daily chart for STX points out that the company has recorded -34.30% loss over the past six months. However, it is still -14.66% lower than its most recent low trading price.

If we look at the average trading volume of 2.71M shares, STX reached to a volume of 2433571 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 Holdings plc [STX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for STX shares is $58.42 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.

UBS have made an estimate for Seagate Technology Holdings plc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 27, 2022. While these analysts kept the previous recommendation, Exane BNP Paribas raised their target price to Neutral. The new note on the price target was released on September 13, 2022, representing the official price target for Seagate Technology Holdings plc stock.

The Average True Range (ATR) for Seagate Technology Holdings plc is set at 1.96, with the Price to Sales ratio for STX stock in the period of the last 12 months amounting to 1.07. Price to Free Cash Flow for STX in the course of the last twelve months was 27.92 with Quick ratio for the last quarter at 0.70.

Trading performance analysis for STX stock

Seagate Technology Holdings plc [STX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.12. With this latest performance, STX shares gained by 2.70% in over the last four-week period, additionally sinking by -34.30% over the last 6 months – not to mention a drop of -48.51% 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 53.27, with the RSI for the last a single of trading hit 57.97, and the three-weeks RSI is set at 50.10 for Seagate Technology Holdings plc [STX]. The present Moving Average for the last 50 days of trading for this stock 53.40, while it was recorded at 52.88 for the last single week of trading, and 73.44 for the last 200 days.

Seagate Technology Holdings plc [STX]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Seagate Technology Holdings plc [STX] shares currently have an operating margin of +17.04 and a Gross Margin at +29.75. Seagate Technology Holdings plc’s Net Margin is presently recorded at +14.14.

Return on Equity for this stock inclined to 445.68, with Return on Assets sitting at 18.72.

Seagate Technology Holdings plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.20.

Seagate Technology Holdings plc [STX]: An earnings per share (EPS) analysis

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 Holdings plc go to -3.51%.

An analysis of insider ownership at Seagate Technology Holdings plc [STX]

There are presently around $9,476 million, or 87.90% of STX stock, in the hands of institutional investors. The top three institutional holders of STX stocks are: VANGUARD GROUP INC with ownership of 23,472,012, which is approximately -4.795% of the company’s market cap and around 0.40% of the total institutional ownership; JPMORGAN CHASE & CO, holding 15,923,425 shares of the stock with an approximate value of $866.71 million in STX stocks shares; and VALUEACT HOLDINGS, L.P., currently with $731.38 million in STX stock with ownership of nearly 0% of the company’s market capitalization.

280 institutional holders increased their position in Seagate Technology Holdings plc [NASDAQ:STX] by around 11,523,798 shares. Additionally, 364 investors decreased positions by around 13,064,967 shares, while 133 investors held positions by with 149,497,247 shares. The mentioned changes placed institutional holdings at 174,086,012 shares, according to the latest SEC report filing. STX stock had 65 new institutional investments in for a total of 3,193,236 shares, while 105 institutional investors sold positions of 1,915,901 shares during the same period.


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