TD Cowen has recently reiterated Seagate Technology Holdings PLC (STX) stock to Buy rating, as announced on July 24, 2024, according to Finviz. Earlier, on June 5, 2024, BofA Securities had reiterated the stock to Buy, setting a price target of $110. Citigroup also initiated Buy rating with a price target of $110. Additionally, Wedbush raised Outperform rating on May 1, 2024, with a target price of $100. Morgan Stanley analysts, in their report published on March 26, 2024, also raised rating and set a price target of $73 for Seagate Technology Holdings PLC’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
Seagate Technology Holdings PLC (STX) Stock Trading Recap
On Wednesday, Seagate Technology Holdings PLC (STX) stock saw a decline, ending the day at $103.52 which represents a decrease of $-9.12 or -8.10% from the prior close of $112.64. The stock opened at $105.74 and touched a low of $102.46 during the day, reaching a high of $107.8. The volume of shares traded was 8.76 million exceeding the average volume of 2.32 million.
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STX Stock Performance and Moving Averages
In recent trading, Seagate Technology Holdings PLC (STX) stock price has shown some volatility, fluctuating -7.35% over the last five trades and -2.92% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 18.84%, and it has plunged by -0.42% in the previous three months. Currently, STX is trading at -5.51%, -1.40%, and 7.56% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, STX, a Technology sector stock, is trading -10.23% below its 52-week high but remains 61.45% above its 52-week low. The Average True Range (ATR) (14 days) of 3.24 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Seagate Technology Holdings PLC’s Profitability and Valuation Ratios
Seagate Technology Holdings PLC’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 13.49% and a profit margin of 11.34%, with a gross margin of 18.84%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Seagate Technology Holdings PLC’s market capitalization stands at $21.79 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 27.08, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 10.91. Additionally, the Price-to-Sales Ratio is 3, reflecting the market’s valuation of the company’s sales.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 0.46% of Seagate Technology Holdings PLC (STX)’s shares, while financial institutions hold 89.91%.
Notable insider trades include Morris John Christopher, SVP & CTO at Seagate Technology Holdings PLC (STX), who sold 1131 shares on Oct 22 ’24, at $111.9 each, totaling $0.13 million. On Oct 01 ’24, MOSLEY WILLIAM D, Chief Executive Officer, sold 20000 shares for $107.68 each, amounting to $2.15 million. Additionally, on Sep 26 ’24, Teh Ban Seng sold 4872 shares at $110 each, generating $0.54 million.
