Seagate Technology Holdings plc [STX] Is Currently 3.04 below its 200 Period Moving Avg: What Does This Mean?

Seagate Technology Holdings plc [NASDAQ: STX] closed the trading session at $65.37 on 09/08/23. The day’s price range saw the stock hit a low of $63.41, while the highest price level was $65.39. The company report on September 8, 2023 at 7:00 AM that Seagate Announces Pricing of $1.3 Billion of Exchangeable Senior Unsecured Notes.

Seagate HDD Cayman (the “Company”), a subsidiary of Seagate Technology Holdings plc (NASDAQ: STX) (“Seagate”), announced that it priced its earlier announced offering of $1.3 billion aggregate principal amount of exchangeable senior notes due 2028 (the “Notes”). The 2028 Notes were priced at 100% of the aggregate principal amount and will bear interest at a rate of 3.50% per annum. In addition, the Company has granted the initial purchasers of the Notes an option to purchase up to an additional $200 million aggregate principal amount of Notes for settlement within a 13-day period beginning on, and including, the date on which the Notes are first issued, solely to cover over-allotments. The Notes will be guaranteed by Seagate and Seagate Technology Unlimited Company.

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The Notes will be exchangeable at the option of the holders only under certain circumstances and solely into cash up to the aggregate principal amount of Notes to be exchanged, and cash, ordinary shares of Seagate, or a combination of both, at Seagate’s election, in respect of any remainder of the Company’s conversion obligation in excess of such principal amount. The initial exchange rate for the Notes is 12.1253 ordinary shares per $1,000 principal amount of Notes (equivalent to an initial exchange price of approximately $82.47 per share, which represents an exchange premium of approximately 30% to the last reported sale price of the ordinary shares on The Nasdaq Global Market on September 7, 2023).

The stocks have a year to date performance of 24.25 percent and weekly performance of -7.66 percent. The stock has been moved at 3.35 percent over the last six months. The stock has performed -2.23 percent around the most recent 30 days and changed 9.17 percent over the most recent 3-months.

If compared to the average trading volume of 2.41M shares, STX reached to a volume of 9417318 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $63.47 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.

Barclays have made an estimate for Seagate Technology Holdings plc shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on September 07, 2023.

The Average True Range (ATR) for Seagate Technology Holdings plc is set at 2.48, with the Price to Sales ratio for STX stock in the period of the last 12 months amounting to 1.79. Price to Free Cash Flow for STX in the course of the last twelve months was 21.06 with Quick ratio for the last quarter at 0.70.

STX stock trade performance evaluation

Seagate Technology Holdings plc [STX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.66. With this latest performance, STX shares dropped by -2.23% in over the last four-week period, additionally plugging by 3.35% over the last 6 months – not to mention a drop of -0.38% 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 47.64, with the RSI for the last a single of trading hit 44.55, and the three-weeks RSI is set at 49.49 for Seagate Technology Holdings plc [STX]. The present Moving Average for the last 50 days of trading for this stock 64.24, while it was recorded at 68.93 for the last single week of trading, and 61.50 for the last 200 days.

Seagate Technology Holdings plc [STX]: An insightful look at the core 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 +0.51 and a Gross Margin at +18.04. Seagate Technology Holdings plc’s Net Margin is presently recorded at -7.16.

Return on Total Capital for STX is now 0.73, given the latest momentum, and Return on Invested Capital for the company is -11.26. Additionally, STX Total Debt to Total Capital is recorded at 128.20, with Total Debt to Total Assets ending up at 77.22.

Receivables Turnover for the company is 6.86 with a Total Asset Turnover recorded at a value of 0.90.Seagate Technology Holdings plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.10.

Seagate Technology Holdings plc [STX]: Institutional Ownership

The top three institutional holders of STX stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in STX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in STX stock with ownership which is approximately 5.7381%.

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