Seagate Technology Holdings PLC (STX): Monthly Stock Report
Publication Date: September 22, 2024
Company Overview
Seagate Technology Holdings PLC (STX), based in Dublin, Ireland, is a leading entity in the global tech sector, focused on data storage solutions. Established in 1978, Seagate specializes in mass capacity storage technologies, offering a comprehensive range of products such as enterprise hard disk drives (HDDs), solid-state drives (SSDs), and external storage solutions. The company’s well-recognized brands, including Seagate and LaCie, cater to diverse storage needs across traditional and modern platforms, such as their innovative Lyve solutions. With total revenue reported at an impressive $6.55 billion, Seagate’s market presence reflects robust financial health and an optimistic growth trajectory, earning a “buy” recommendation from analysts.
Stock Performance and Analyst Outlook
As of today, Seagate’s stock is priced at $104.74, showing significant potential for appreciation, with analysts projecting a target high price of $142.00 and a mean target of $115.85. This indicates confidence in the company’s upward potential, especially considering the current price is above its fifty-day moving average of $101.30. Although the stock has yet to reach its fifty-two week high of $113.57, the historical low of $63.32 underscores the price volatility and recovery capacity inherent in its trading performance. The sentiment among analysts is predominantly positive, with a mean recommendation score of 2.4 based on insights from 19 analysts, reinforcing the viability of investing in Seagate Technology.
Market Sentiment and Trading Insights
With a total of 210,490,000 shares outstanding and a relatively low short interest of 0.07%, market sentiment regarding Seagate remains stable and generally optimistic. The target low price of $65.00 presents a potential downside risk, yet the overall bullish outlook demonstrated through analyst projections makes it an appealing asset in the current financial landscape. Investors should consider the strong performance metrics and favorable recommendations as indicative of Seagate’s place in a diversified investment portfolio.
| Metric | Value |
|---|---|
| Market Cap | $22.0b |
| Total Debt | $6.1b |
| Total Cash | $1.4b |
| Shares Outstanding | 210.5m |
| Float Shares | 209.2m |
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