Seagate Technology plc (NASDAQ:STX) has a beta value of 1.2 and has seen 3,060,797 shares traded in the recent trading session. The company, currently valued at $19.96 Billion, closed the recent trade at $87.24 per share which meant it lost -$4.36 on the day or -4.76% during that session. The STX stock price is -4.47% off its 52-week high price of $91.14 and 50.1% above the 52-week low of $43.53. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.56 Million shares traded. The 3-month trading volume is 3.77 Million shares.
The consensus among analysts is that Seagate Technology plc (STX) is an Overweight stock at the moment, with a recommendation rating of 2.5. 4 analysts rate the stock as a Sell, while 1 rate it as Overweight. 11 out of 27 have rated it as a Hold, with 11 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $1.63.
Seagate Technology plc (NASDAQ:STX) trade information
Despite being -4.76% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Thursday, Apr 29 when the STX stock price touched $97.12- or saw a rise of 10.14%. Year-to-date, Seagate Technology plc shares have moved 40.4%, while the 5-day performance has seen it change -7.39%. Over the past 30 days, the shares of Seagate Technology plc (NASDAQ:STX) have changed 11.19%. Short interest in the company has seen 14.39 Million shares shorted with days to cover at 3.82.
Wall Street analysts have a consensus price target for the stock at $88.38, which means that the shares’ value could jump 1.31% from the levels at last check today. The projected low price target is $58 while the price target rests at a high of $110. In that case, then, we find that the latest price level in today’s session is +26.09% off the targeted high while a plunge would see the stock lose -33.52% from the levels at last check today.
Seagate Technology plc (STX) estimates and forecasts
Figures show that Seagate Technology plc shares have outperformed across the wider relevant industry. The company’s shares have gained +92.19% over the past 6 months, with this year growth rate of 6.46%, compared to -3.1% for the industry. Other than that, the company has, however, increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 35.8% and 75.3% for the next quarter. Revenue growth from the last financial year stood is estimated to be +0.2%.
23 analysts offering their estimates for the company have set an average revenue estimate of $2.86 Billion for the current quarter. 21 have an estimated revenue figure of $2.82 Billion for the next quarter concluding in September 01, 2021. Year-ago sales stood $2.52 Billion and $2.34 Billion respectively for this quarter and the next, and analysts expect sales will grow by 13.8% for the current quarter and 20.9% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -6.4% over the past 5 years. Earnings growth for 2021 is a modest -46.3% while over the next 5 years, the company’s earnings are expected to increase by 8.22%.
Seagate Technology plc is expected to release its next earnings report between July 26 and July 30 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 2.68 at a share yield of 2.93%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 5.59%.
Seagate Technology plc (NASDAQ:STX)’s Major holders
Insiders own 0.56% of the company shares, while shares held by institutions stand at 89.59% with a share float percentage of 90.09%. Investors are also buoyed by the number of investors in a company, with Seagate Technology plc having a total of 991 institutions that hold shares in the company. The top two institutional holders are ValueAct Holdings, L.P. with over 30.15 Million shares worth more than $1.87 Billion. As of December 30, 2020, ValueAct Holdings, L.P. held 13.17% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 26.87 Million shares as of December 30, 2020. The firm’s total holdings are worth over $1.67 Billion and represent 11.74% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Fidelity Low-Priced Stock Fund and Vanguard Total Stock Market Index Fund. As of January 30, 2021, the former fund manager holds about 4.75% shares in the company for having 10881780 shares of worth $719.5 Million while later fund manager owns 6.18 Million shares of worth $383.96 Million as of December 30, 2020, which makes it owner of about 2.7% of company’s outstanding stock.