Seagate Technology Holdings Plc [STX] moved down -2.18: Why It’s Important

Seagate Technology Holdings Plc [NASDAQ: STX] closed the trading session at $85.68. The company report on January 31, 2024 at 8:41 AM that OORT Collaborates with Seagate Lyve Services to Strengthen AI-Focused Decentralized Cloud Services.

OORT, a decentralized cloud platform, collaborates with Seagate® Technology (NASDAQ: STX), a world leader in mass-data storage infrastructure solutions, integrating Seagate Lyve™ services to boost its infrastructure. This collaboration aims to strengthen OORT’s integration of global compute and storage resources, key to its AI-focused services.

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Seagate Lyve Cloud’s integration significantly enhances OORT’s storage capabilities, meeting the high data demands of AI applications. Leveraging Seagate’s advanced solutions enables OORT to optimize costs, offering competitive pricing and a seamless experience, vital for its AI-focused decentralized cloud infrastructure. This collaboration is key in bolstering OORT’s ability to enable AI solutions while also advancing its global expansion and fostering new strategic alliances.

The stocks have a year to date performance of 0.36 percent and weekly performance of -3.91 percent. The stock has been moved at 31.17 percent over the last six months. The stock has performed 0.36 percent around the most recent 30 days and changed 25.23 percent over the most recent 3-months.

If compared to the average trading volume of 2.31M shares, STX reached to a volume of 4943215 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 $89.06 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 2.57. 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.

TD Cowen have made an estimate for Seagate Technology Holdings Plc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 25, 2024.

The Average True Range (ATR) for Seagate Technology Holdings Plc is set at 2.39, with the Price to Sales ratio for STX stock in the period of the last 12 months amounting to 2.77. Price to Free Cash Flow for STX in the course of the last twelve months was 36.05 with Quick ratio for the last quarter at 0.62.

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 -3.91. With this latest performance, STX shares gained by 0.36% in over the last four-week period, additionally plugging by 31.17% over the last 6 months – not to mention a rise of 28.34% 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 51.92, with the RSI for the last a single of trading hit 47.04, and the three-weeks RSI is set at 54.57 for Seagate Technology Holdings Plc [STX]. The present Moving Average for the last 50 days of trading for this stock 82.56, while it was recorded at 88.67 for the last single week of trading, and 68.66 for the last 200 days.

Seagate Technology Holdings Plc [STX]: An insightful look at the core fundamentals

Seagate Technology Holdings Plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.62 and a Current Ratio set at 1.04.

Earnings per share (EPS) analysis for Seagate Technology Holdings Plc [STX] stock

With the latest financial reports released by the company, Seagate Technology Holdings Plc posted -0.28/share EPS, while the average EPS was predicted by analysts to be reported at 0.21/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -233.30%. 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.

Seagate Technology Holdings Plc [STX]: Institutional Ownership

The top three institutional holders of STX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in STX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in STX stock with ownership which is approximately 5.8325%.