Seagate Technology Holdings plc (NASDAQ:STX) closed Wednesday at $59.53 per share, down from $59.93 a day earlier. While Seagate Technology Holdings plc has underperformed by -0.67%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, STX fell by -27.02%, with highs and lows ranging from $117.67 to $59.22, whereas the simple moving average fell by -32.77% in the last 200 days.
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On September 13, 2022, Exane BNP Paribas started tracking Seagate Technology Holdings plc (NASDAQ: STX) recommending Neutral. A report published by The Benchmark Company on September 01, 2022, Downgraded its rating to ‘Hold’ for STX. Credit Suisse also rated STX shares as ‘Neutral’, setting a target price of $80 on the company’s shares in an initiating report dated August 17, 2022. Fox Advisors July 22, 2022d its ‘Overweight’ rating to ‘Equal Weight’ for STX, as published in its report on July 22, 2022. Craig Hallum’s report from July 22, 2022 suggests a price prediction of $79 for STX shares, giving the stock a ‘Hold’ rating. Susquehanna also rated the stock as ‘Negative’.
Analysis of Seagate Technology Holdings plc (STX)
The current dividend for STX investors is set at $2.80 per share, indicating investors will get a return regardless of how the company performs over the next quarter. Further, the quarter-over-quarter increase in sales is 2.60%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Seagate Technology Holdings plc’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of 337.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.00, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and STX is recording an average volume of 2.08M. On a monthly basis, the volatility of the stock is set at 3.40%, whereas on a weekly basis, it is put at 2.71%, with a loss of -5.84% over the past seven days. Furthermore, long-term investors anticipate a median target price of $75.60, showing growth from the present price of $59.53, which can serve as yet another indication of whether STX is worth investing in or should be passed over.
How Do You Analyze Seagate Technology Holdings plc Shares?
Seagate Technology Holdings plc (STX) is based in the Ireland and is one of the most prominent companies operating in the Computer Hardware market. When comparing Seagate Technology Holdings plc shares with other companies under Technology, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 8.12, there is a growth in quarterly earnings of 12.30%.
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.30%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 88.60% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in STX shares?
The recent increase in stakes in STX appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in STX has increased by 0.24% in the first quarter. The company now owns 23,874,055 shares of the stock, with a value of $1.6 billion, following the purchase of 56,637 additional shares during the last quarter. During the last quarter, the company picked up 0 additional shares for a total stake of worth $899.75 million, bringing number of shares owned by the company to 13,437,070.
During the first quarter, JPMorgan Investment Management, I added a 1,192,996 position in STX. BlackRock Fund Advisors sold an additional 97656.0 shares in the last quarter, decreasing its holdings by -1.07%, now holding 9.02 million shares worth $604.11 million. At the end of the first quarter, SSgA Funds Management, Inc. decreased its STX holdings by -4.68% and now holds 7.7 million STX shares valued at $515.26 million with the lessened -0.38 million shares during the period. STX shares are owned by institutional investors to the tune of 88.60% at present.