Seagate's most recent trend suggests a bearish bias. One trading opportunity on Seagate is a Bear Call Spread using a strike $91.00 short call and a strike $96.00 long call offers a potential 28.53% return on risk over the next 9 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $91.00 by expiration. The full premium credit of $1.11 would be kept by the premium seller. The risk of $3.89 would be incurred if the stock rose above the $96.00 long call strike price.
The 5-day moving average is moving down which suggests that the short-term momentum for Seagate is bearish and the probability of a decline in share price is higher if the stock starts trending.
The 20-day moving average is moving down which suggests that the medium-term momentum for Seagate is bearish.
The RSI indicator is at 63.77 level which suggests that the stock is neither overbought nor oversold at this time.
To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here
LATEST NEWS for Seagate
Barron's Picks And Pans: Hannon Armstrong, Seagate, Tesla, Virtu Financial And More
Sun, 09 May 2021 14:57:54 +0000
This weekend's Barron's cover story helps investors to prepare for the changes ahead. Other featured articles discuss how to invest in tomorrow's big tech trends, what a green economy could mean for miners and fashion changes brought about by the COVID-19 pandemic. Also, see the prospects for a hard-drive maker, a retail investing boom play, the leading electric vehicle maker and more. Cover story “Imagining the Next 100 Years in Business, Science, and Investing” by Lauren R. Rublin offers commentary from investment experts on the near and distant future, from synthetic biology to space travel to cryptocurrencies. For instance, see whether they believe that Coinbase Global Inc (NASDAQ: COIN) is in it for the long haul. Andrew Bary's “How the Green Economy Will Be a Gold Mine for Copper” makes a case that the push toward renewable energy will boost demand for copper, which in turn will push up prices in an already tight market. See why Barron's believes that electric vehicles alone will be a bonanza for miners such as Freeport-McMoRan Inc (NYSE: FCX). In “Seagate Remakes Itself for the Cloud,” Eric J. Savitz discusses how, for 40 years, hard-drive maker Seagate Technology PLC (NASDAQ: STX) has faced doubt from investors. Discover why, thanks to the cloud, the data storage company is once again defying the skeptics, as new enterprise applications are powering a hard-drive renaissance. Big cultural changes usually bring big fashion changes, and the past year's COVID-19 pandemic certainly has done so, according to “Get Dressed for the Reopening. These Stocks Will Benefit” by Teresa Rivas. Find out why those big changes are great news for fashion retailers in the United States, including the likes of Nike Inc (NYSE: NKE). In Avi Salzman's “Go Green With This Niche Play on Renewable Energy,” discover how Maryland real estate investment trust Hannon Armstrong Sustnbl Infrstr Cap Inc (NYSE: HASI) brings crucial expertise and funds to support clean-energy projects. A bonus, says the article, is the service provider's cash flow and growing dividends. “Robinhood Isn't Publicly Traded. But You Can Play the Investing Boom With This Stock” by Steven M. Sears points out that Virtu Financial Inc (NASDAQ: VIRT) plays an essential role in the significant growth of retail investing, while also providing efficiency to the markets. See why Barron's recommends that investors consider this “half and half” strategy. See also: Benzinga's Bulls And Bears Of The Week: Apple, Amazon, Kroger, Netflix, Pfizer And More After an epic rise, Tesla Inc (NASDAQ: TSLA) stock has stalled. But that is just what it tends to do. It rockets higher after major milestones, then does nothing for a while. So says Al Root's “Tesla Stock Needs a Catalyst. Here Are Some Contenders.” The article presents some catalysts that could light a fire under the stock again. In “6 Agricultural Stocks Poised to Ride Food Prices Higher,” Al Root reveals how prices of corn, wheat and other agricultural commodities have been soaring, yet some agricultural stocks, like FMC Corp (NYSE: FMC), have not been keeping pace. Barron's suggests that that has created a buying opportunity in Deere & Company (NYSE: DE) and other stocks. Lauren R. Rublin's “How to Invest in Tomorrow's Big Tech Trends Today” reveals what Jerry Yang, founding partner of AME Cloud Ventures and co-founder of Yahoo, sees ahead for biofacturing, smart sensors, the future of video and more. Check out whether synthetic DNA company Twist Bioscience Corp (NASDAQ: TWST) may be worth a look now. Also in this week's Barron's: Barron's 100th anniversary The legacy of Barron's founder Barron's biggest hits and misses over the past century Introduction of the Barron's Future Focus Stock Index How the awful April jobs report is misleading Whether the tussle over COVID-19 vaccine patents is overblown How tech innovators can be better global citizens Whether more electric vehicles really pose a threat to oil Whether Dogecoin needs to be taken a little more seriously How to avoid getting burned by thematic exchange-traded funds How Vietnam's big infrastructure plans are good news for investors At the time of this writing, the author had no position in the mentioned equities. Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter. Photo by Austin Distel on Unsplash. See more from BenzingaClick here for options trades from BenzingaThe Past Week's Notable Insider Buys: Amphenol, Aldeyra, Werewolf Therapeutics And MoreBenzinga's Bulls And Bears Of The Week: Apple, Amazon, Kroger, Netflix, Pfizer And More© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The Cloud Is Full of Expensive Stocks. Here’s 1 That Still Looks Cheap.
Fri, 07 May 2021 22:44:00 +0000
For 40 years, the hard-drive maker has faced doubt from investors. Thanks to the cloud, the company is once again defying skeptics.
Is The Seagate Technology Rally On Its Last Legs?
Tue, 04 May 2021 14:37:59 +0000
Seagate Technology (STX) is still going strong. Its shares saw a sharp boost on the heels of its strong quarterly earnings release on April 22, with it up 9% since then. This provider of electronic data storage technology and solutions has many factors working in its favor. Demand remains strong for data storage, earnings results have beaten estimates, and guidance remains in line with analyst expectations. That being said, with prices around $90 per share, Seagate may be topping out, at least in the near-term. Its valuation looks reasonable on an absolute basis. Yet, given the cyclical nature of the industry, combined with the company’s slower-than-average top-line growth, its current forward P/E ratio may fully reflect its underlying value. Shares will likely hold on to the lion’s share of their recent gains, but the stock is unlikely to break into triple-digit price levels anytime soon. Seagate Technology And Recent Results For the fiscal quarter ending Apr 2, 2021, Seagate delivered results that were ahead of expectations. Earnings per share (EPS) came in at $1.48, above the sell-side consensus estimate of $1.30. Revenue for the quarter also came in above projections, albeit only slightly. This news has helped to give STX a continued boost, although when the numbers initially hit the Street, the markets had a mixed reaction. The quarterly results were positive, but investors were cautious due to the company’s lukewarm guidance for the upcoming quarter. Projected sales for the next quarter are now around $2.85 billion. This is in line with analyst estimates of around $2.86 billion in revenue for the quarter ending July 2, 2021. Earnings projections for Seagate’s fiscal 4Q, at $1.45-$1.75, are also in line with analyst numbers, which are at $1.55. This may be sufficient to sustain the stock at around $90 per share. But this, coupled with other factors, may signal that the stock is about to cool off. (See Seagate Technology stock analysis on TipRanks) Short-Term Gains Could Be Limited Demand is strong for Seagate’s data storage solutions, shares pay a relatively high dividend (forward yield of around 3%), and its valuation is more than moderate. Even so, these positives are unlikely to lead to dramatically higher prices for STX stock. While Seagate's valuation is reasonable, its current P/E multiple is in line with peers in this more cyclical segment of the overall chip space. Seagate's largest segment, HDD (hard disc drive), has not been growing in the market overall. Its other main segment, Enterprise Data Solutions, SSD, and Other, is growing, but represents only 9% of its revenues. Therefore, Seagate has minimal potential for multiple expansion. What Analysts Are Saying About STX Stock According to TipRanks’ analyst rating consensus, STX stock comes in as a Moderate Buy. Out of 18 analyst ratings, there have been 11 Buys, 6 Holds and 2 Sells published. As for price targets, the average analyst price target on STX stock today is $87.42 per share, implying around 3.52% downside potential from today’s prices. Bottom Line Investors looking for a stock to buy and hold for several years may find this interesting. For those with a shorter time horizon, the opportunity for big gains may be limited. Despite its recent strong run, don’t expect STX stock to rise much higher than today’s price levels over the next few months. Disclosure: Thomas Niel held no position in any of the stocks mentioned in this article at the time of publication. Disclaimer: The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities.
5 Takeaways From Intel, Seagate, ASML and Lam Research Earnings This Week
Sat, 24 Apr 2021 07:00:00 +0000
Among other things, Intel disclosed weak server CPU sales figures and shared more details about its plans to battle TSMC and Samsung in the foundry market.
Seagate Shares Rally on Surprise Forecast for Accelerating Growth
Fri, 23 Apr 2021 18:56:00 +0000
On a conference call with Wall Street analysts Thursday afternoon after the company’s earnings report, Seagate (ticker: STX) CEO Dave Mosely said he expected revenue for calendar 2021 to be up at least 10% from 2020. As Citigroup analyst Jim Suva noted in a research note, consensus had been for just 2% growth for the calendar year. For the June quarter, Seagate projects revenue of $2.85 billion, give or take $150 million, in line with previous Street estimates.
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