Seagate Technology plc (NASDAQ:STX) shares, rose in value on Friday, June 11, with the stock price down by -0.24% to the previous day’s close as strong demand from buyers drove the stock to $97.23.
Actively observing the price movement in the recent trading, the stock is buoying the session at $97.46, falling within a range of $96.82 and $100.1499. The PE ratio was 24.38 over 12-month period. Referring to stock’s 52-week performance, its high was $106.22, and the low was $43.53. On the whole, STX has fluctuated by 12.33% over the past month.
The company’s Forward Dividend Ratio is 2.68, with its dividend yield at 2.75%.
Analysts have estimated the company’s revenue for the quarter at $2.87 billion, with a low estimate of $2.84 billion and a high estimate of $2.95 billion. According to the average forecast, sales growth in current quarter could jump up 13.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2022, the company’s y-o-y revenues would reach $10.53 billion, representing an increase of 0.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that STX’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
26 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 12 analyst(s), 10 recommend it as a Buy and 1 called the STX stock Overweight. In the meantime, 1 analyst(s) believe the stock as Underweight and 2 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Overweight.
The stock’s technical analysis shows that the PEG ratio is about 2.97, with the price of STX currently trading nearly -0.31% and 7.74% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 53.75, while the 7-day volatility ratio is showing 2.85% which for the 30-day chart, stands at 4.49%. Furthermore, Seagate Technology plc (STX)’s beta value is 1.18, and its average true range (ATR) is 3.80. The company’s stock has been forecasted to trade at an average price of $101.95 over the course of the next 52 weeks, with a low of $70.00 and a high of $135.00. Based on these price targets, the low is 28.01% off current price, whereas the price has to move -38.85% to reach the yearly target high. Additionally, analysts’ median price of $100.00 is likely to be welcomed by investors because it represents a decrease of -2.85% from the current levels.
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A comparison of Seagate Technology plc (STX) with its peers suggests the former has fared considerably weaker in the market. STX showed an intraday change of -0.24% in today’s session so far, and over the past year, it grew by 76.14%%. In comparison, HP Inc. (HPQ) has moved higher at 0.55% today and is up 77.44% over the past 12 months. On the other hand, the price of Western Digital Corporation (WDC) has risen 1.30% today. The stock, however, is off 57.01% from where it was a year ago. Additionally, there is a gain of 0.29% for Microsoft Corporation (MSFT) in recent trading while the stock has seen an overall depriciation of 30.68%% over the past year. The PE ratio stands at 24.38 for Seagate Technology plc, compared to 10.63 for HP Inc., and 65.10 for Western Digital Corporation. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it lost -0.02%. Meanwhile, the Dow Jones Industrial Slipped by -0.14%.
Data on historical trading for Seagate Technology plc (NASDAQ:STX) indicates that the trading volumes over the past 10 days have averaged 2.04 million and over the past 3 months, they’ve averaged 3.43 million. According to company’s latest data on outstanding shares, there are 233.00 million shares outstanding.
Nearly 0.30% of Seagate Technology plc’s shares belong to company insiders and institutional investors own 91.50% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 8.68 million shares as on May 27, 2021, resulting in a short ratio of 2.02. According to the data, the short interest in Seagate Technology plc (STX) stood at 3.79% of shares outstanding as of May 27, 2021; the number of short shares registered in Apr 29, 2021 reached 13.97 million. The stock has risen by 56.79% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the STX stock heading into the next quarter.