Seagate Technology plc (STX) Still A Mixed Bag, But Technicals Should Support Share Price

Seagate Technology plc’s stock (NASDAQ:STX) has been rated as Market Perform by Cowen. This latest rating was contained in a recent research note published by the firm on November 04, 2019 and has set a $60 price target for the stock. Some experts on Wall Street have also posted a report on Seagate Technology plc (STX) stock.

Cowen rated the stock as a Market Perform in a research noted published on September 20, 2019. Craig Hallum rated the stock as a Hold in a research note published on September 20, 2019.

As it stands, a total of 27 analysts are covering STX stock, with 7 of them rating it as a Buy while 0 of them rating it as Overweight. 14 analysts meanwhile advised investors to Hold, 2 rated it as Underweight while the 4 rated it as a Sell. A look at the overall ratings means that Seagate Technology plc (STX) stock has an average rating of Hold.

Seagate Technology plc (STX) which is currently valued at 15.48 billion, with the company publishing its last earnings report on 11/01/2019, for the recent quarter of 2019. In that quarter, the company recorded a revenue of 2.0 billion, which was lower than the forecast of 2.0 billion made by some analysts. For that same quarter, Seagate Technology plc (STX) posted $1.41 earnings per share (EPS) which was above the analyst consensus estimate of $1.27 by $0.14, which represents an increase by 11.00%.

The stock market has a tendency to become sophisticated sometimes, even for seasoned investors and traders. Even when a trader got what he/she had expected, the market sometimes decides to move in the opposite direction. This volatility sometimes leads to some traders doubting and second-guessing their moves. This is why getting to know historical price performance, as well as both long-term and short-term trends, is very important. Over the past one week, STX price has surged by 0.15%. A look at its price performance over the past three months sees the stock go up by 26.46%, while it has gain 28.73% over the past six months and 36.80% since the start of the year.

Let us now look at some of its likely support and resistance level. Recent research on Seagate Technology plc (STX) has seen its stock trading -1.00% below its three-month high price. A look at the other side also sees stock trading +31.91% above its three-month low. A wider look sees STX trading -1.00% below its 52-week high and 64.53% above from its 52-week low price.

Shareholders of the company sometimes like to find out how their investments are growing. Seagate Technology plc (STX) has so far given an ROE of 93.30%. When the ROE is low, it means that the company isn’t generating enough profits. The Return on Assets (ROA) ratio meanwhile is an indication of how profitable a company is relative to the total asset it owns. Seagate Technology plc (STX)’s ROA at the moment stands at 20.10%. Any company that is managing its assets better will have a higher return while one that manages assets poorly would result in low returns.

Seagate Technology plc (STX) has a return on investment (ROI) of 33.20%. The higher the ROI percentage, the higher the profit exceeds the costs, thus analysts consider such investments as an overall gain. A negative ROI, however, means that the cost is higher than the profits, a scenario analysts consider as a net loss.

Let us now take a look at Seagate Technology plc (STX)’s trading volatility. Its 7-day volatility is around 1.44%, while it has a monthly volatility of 1.93%. STX has an ATR (Average True Range) of 1.09 and a beta factor of 1.63. The volatility of a stock is an indication of the stock’s drop or gain in case the wider market drops or surges. A beta score higher than 1 means that a stock is highly volatile while below 1 means that the volatility of a stock is low.

The price of STX lifted by $0.08 during the normal trading session on Thursday to trade at $58.21. The Seagate Technology plc (STX) stock has a trading volume of 1.0 million shares, which is low, compared to its average daily volume of 2.68M shares.