Valued at $240 billion, Seagate Technology Holdings Plc (STX) is one of the largest manufacturers of hard disk drives (HDDs) in the US. The Trend Seeker issued a new “Buy” signal on June 12. Since then, the stock has gained 18.2%, says Jim Van Meerten, analyst at Barchart.
HDDs are used as the primary medium for storing electronic information in systems ranging from desktop computers and consumer electronics to data centers. Seagate also develops other electronic data storage products such as solid-state drives (SSDs) and solid-state hybrid drives (SSHDs).
I found STX by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals, superior current momentum in both strength and direction, a Weighted Alpha above 50, and a 60-month beta above 1.5.
Seagate Technology Holdings Plc (STX)
Seagate scored an all-time high of $1,145 on June 18. It has a 100% “Buy” opinion from Barchart. Its Relative Strength Index (RSI) is at 74.4 and there’s a technical support level around $1,034.17.
The Wall Street analysts followed by Barchart give the stock 21 “Strong Buy,” one “Moderate Buy,” and three “Hold” opinions, with price targets between $545 and $1,150. Value Line rates the stock “Above Average” with price targets between $905 and $1,355. CFRA’s MarketScope rates the stock a “Buy.”
