Seagate Technology Holdings plc [STX] Stock trading around $58.71 per share: What’s Next?

Seagate Technology Holdings plc [NASDAQ: STX] stock went on an upward path that rose over 3.04% on Wednesday, amounting to a one-week price increase of more than 3.99%. The company report on January 11, 2023 that Seagate Technology to Report Fiscal Second Quarter 2023 Financial Results on January 25, 2023.

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Seagate Technology Holdings plc (NASDAQ: STX), a world leader in data storage infrastructure solutions, will report fiscal second quarter 2023 financial results after the market closes on Wednesday, January 25, 2023. The investment community conference call to discuss these results will take place that day at 2:00 PM PT / 5:00 PM ET.

The live audio webcast can be accessed online at Seagate’s Investor Relations website at investors.seagate.com.

Over the last 12 months, STX stock dropped by -46.24%. The one-year Seagate Technology Holdings plc stock forecast points to a potential downside of -0.77. The average equity rating for STX stock is currently 2.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $12.23 billion, with 208.00 million shares outstanding and 205.30 million shares in the current float. Compared to the average trading volume of 2.61M shares, STX stock reached a trading volume of 3944500 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $58.26 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.

Morgan Stanley have made an estimate for Seagate Technology Holdings plc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 18, 2023. While these analysts kept the previous recommendation, UBS dropped their target price from $85 to $55. The new note on the price target was released on October 27, 2022, representing the official price target for Seagate Technology Holdings plc stock. Previously, the target price had yet another raise to $70, while Exane BNP Paribas analysts kept a Neutral rating on STX stock.

The Average True Range (ATR) for Seagate Technology Holdings plc is set at 1.83, with the Price to Sales ratio for STX stock in the period of the last 12 months amounting to 1.16. Price to Free Cash Flow for STX in the course of the last twelve months was 30.19 with Quick ratio for the last quarter at 0.70.

STX Stock Performance Analysis:

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 3.99. With this latest performance, STX shares gained by 12.11% in over the last four-week period, additionally sinking by -27.33% over the last 6 months – not to mention a drop of -46.24% 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 66.83, with the RSI for the last a single of trading hit 73.12, and the three-weeks RSI is set at 61.55 for Seagate Technology Holdings plc [STX]. The present Moving Average for the last 50 days of trading for this stock 53.72, while it was recorded at 57.59 for the last single week of trading, and 68.12 for the last 200 days.

Insight into Seagate Technology Holdings plc Fundamentals:

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.

STX Stock EPS

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%.

Seagate Technology Holdings plc [STX] Insider Position Details

There are presently around $10,100 million, or 87.80% 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 $934.86 million in STX stocks shares; and VALUEACT HOLDINGS, L.P., currently with $788.89 million in STX stock with ownership of nearly 0% of the company’s market capitalization.

272 institutional holders increased their position in Seagate Technology Holdings plc [NASDAQ:STX] by around 11,486,632 shares. Additionally, 368 investors decreased positions by around 13,034,594 shares, while 125 investors held positions by with 147,517,896 shares. The mentioned changes placed institutional holdings at 172,039,122 shares, according to the latest SEC report filing. STX stock had 66 new institutional investments in for a total of 3,143,083 shares, while 107 institutional investors sold positions of 1,939,558 shares during the same period.

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