STOCK TITAN

Seagate Technology Holdings plc - STX STOCK NEWS

Welcome to our dedicated page for Seagate Technology Holdings plc news (Ticker: STX), a resource for investors and traders seeking the latest updates and insights on Seagate Technology Holdings plc stock.

Seagate Technology Holdings PLC (Ireland) (symbol: STX) is a leading global company known for its precision-engineered data storage technologies. Founded in 1979, Seagate has consistently been at the forefront of innovation in the data storage industry. The company specializes in providing hard disk drives (HDDs) and other data storage solutions for both enterprise and consumer markets.

Seagate is a critical player in the data storage industry, forming a practical duopoly with its main competitor, Western Digital. Both companies are vertically integrated, meaning they manage nearly all aspects of production and distribution, ensuring high-quality and reliable products.

With a diverse workforce of 40,000 employees spread across key global hubs such as Silicon Valley, the United Kingdom, Singapore, India, and China, Seagate leverages its international presence to drive technological advancements and meet the growing demand for data storage solutions. The company's expertise in creating storage solutions that offer superior capacity, speed, safety, and performance makes it a preferred choice for businesses and consumers alike.

Seagate's recent achievements include advancements in HAMR (Heat-Assisted Magnetic Recording) technology, which promises to significantly enhance data storage density and efficiency. Moreover, Seagate is actively involved in developing edge and cloud storage solutions, thereby catering to the needs of modern data-centric applications and industries.

In terms of financial health, Seagate has consistently shown robust performance, reporting solid earnings and maintaining a stable financial outlook. The company has also established numerous partnerships with other technology firms to further enhance its product offerings and market reach.

Seagate remains committed to harnessing data to maximize human potential, continually pushing the boundaries of what is possible in data storage technology. As data continues to grow exponentially in today's digital age, Seagate's role in providing reliable and efficient storage solutions becomes increasingly essential.

Rhea-AI Summary

Seagate Technology (NASDAQ: STX) announced it will release its fourth quarter and fiscal year 2024 financial results on July 23, 2024, after the market closes.

The company, known for its innovations in mass-capacity data storage, will host an investment community conference call at 2:00 PM PT / 5:00 PM ET on the same day to discuss these results.

Interested parties can access the live audio webcast via Seagate's Investor Relations website at investors.seagate.com.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.28%
Tags
conferences earnings
-
Rhea-AI Summary

Seagate Technology (NASDAQ: STX) has partnered with eBay to launch an official storefront for factory-recertified hard drives. This collaboration is part of Seagate's Circularity Program aimed at reducing e-waste by extending the lifespan of storage devices. Through this program, Seagate has recertified approximately 1.19 million hard drives and SSDs in FY2023, preventing 553 metric tons of e-waste. The recertified drives adhere to strict data sanitization standards and come with a warranty. eBay supports this initiative as part of its sustainability efforts to reduce greenhouse gas emissions.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.01%
Tags
none
-
Rhea-AI Summary

Seagate Technology Holdings announced the appointment of Jim Lee as Senior Vice President, Chief Legal Officer, and Corporate Secretary. Lee previously worked at Maxar Technologies, where he strengthened legal and compliance functions, built a successful litigation track record, and played a key role in complex transactions. Lee has also spent nearly 15 years at Aramark in various leadership roles. He holds a J.D. from Harvard Law School and a B.A. in economics from Yale University. Seagate's CEO, Dave Mosley, expressed enthusiasm for Lee's extensive experience and legal knowledge, anticipating significant contributions to Seagate's innovation in storage technology.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.55%
Tags
none
Rhea-AI Summary

Seagate Technology Holdings (NASDAQ: STX) has announced its participation in two significant investor events. The first event is the TD Cowen 52nd Annual Technology, Media & Telecom Conference, scheduled for May 29, 2024, where Seagate will present at 8:25 AM PT / 11:25 AM ET and host investor meetings. The second event is the Bank of America Securities Global Technology Conference 2024 on June 4, 2024, with a presentation at 9:20 AM PT / 12:20 PM ET, also followed by investor meetings. Both presentations will be accessible through live webcasts on Seagate's Investor Relations website, with replays available for 30 days post-event.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.49%
Tags
conferences
-
Rhea-AI Summary
Seagate Technology reported fiscal third quarter 2024 financial results with revenue of $1.66 billion, GAAP EPS of $0.12, and non-GAAP EPS of $0.33. The company experienced a 6% revenue growth and significant improvement in EPS compared to the previous quarter. Seagate's CEO highlighted the positive impact of cloud demand, operational efficiency, and pricing strategies on the financial performance. The company's focus on HAMR technology products is expected to drive further financial gains. Seagate generated $188 million in cash flow, $128 million in free cash flow, and returned $147 million to shareholders through dividends. The Board declared a quarterly cash dividend of $0.70 per share. Seagate's cash and cash equivalents stood at $795 million at the end of the quarter.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.67%
Tags
-
Rhea-AI Summary
Seagate Technology Holdings plc (NASDAQ: STX) has released its annual ESG report, detailing progress towards a sustainable, inclusive, and ethical datasphere. The company aims to power its facilities with 100% renewable energy by 2030 and achieve carbon neutrality by 2040. Seagate's circularity program extended the life of 1.19 million hard drives and SSDs, preventing 553 metric tons of e-waste. Other highlights include energy conservation, emissions reduction, water recycling, diversity and inclusion efforts, workplace safety, and community engagement.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.58%
Tags
none
Rhea-AI Summary
Seagate Technology Holdings plc (STX) will report fiscal third quarter 2024 financial results on April 23, 2024, with a conference call scheduled for 2:00 PM PT / 5:00 PM ET. The live webcast will be available on Seagate's Investor Relations website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.72%
Tags
conferences earnings
-
Rhea-AI Summary
Seagate Technology plc (NASDAQ: STX) launches a new e-commerce website in the U.S., offering direct purchase of industry-leading storage products with exclusive promotions and support. Customers can access special pricing and free shipping offers on popular gaming storage drives.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.77%
Tags
none
-
Rhea-AI Summary
Seagate Technology Holdings plc (STX) will participate in the Morgan Stanley Technology, Media & Telecom Conference on March 6, 2024. The presentation will be at 8:45 AM PT / 11:45 AM ET, with investor meetings to follow. The webcast can be accessed on Seagate's Investor Relations website, with a replay available for 30 days.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.67%
Tags
conferences
Rhea-AI Summary
OORT, a decentralized cloud platform, collaborates with Seagate Technology (NASDAQ: STX) to integrate Seagate Lyve services, enhancing its storage capabilities for AI applications. This collaboration aims to strengthen OORT's global compute and storage resources, optimize costs, and foster new strategic alliances, marking a significant step in revolutionizing the decentralized cloud industry.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.18%
Tags
AI

FAQ

What does Seagate Technology Holdings PLC do?

Seagate specializes in providing hard disk drives and other data storage solutions for both enterprise and consumer markets.

When was Seagate Technology founded?

Seagate Technology was founded in 1979.

Where is Seagate Technology headquartered?

Seagate has key global hubs in Silicon Valley, the United Kingdom, Singapore, India, China, and beyond.

What is Seagate's market position?

Seagate forms a practical duopoly in the data storage market with Western Digital, both being vertically integrated companies.

What is HAMR technology?

HAMR (Heat-Assisted Magnetic Recording) is a technology developed by Seagate that enhances data storage density and efficiency.

How many employees does Seagate have?

Seagate employs a diverse workforce of approximately 40,000 people globally.

What recent achievements has Seagate accomplished?

Seagate has made significant advancements in HAMR technology and is actively developing edge and cloud storage solutions.

How does Seagate contribute to the digital age?

Seagate provides reliable and efficient data storage solutions, essential as data continues to grow exponentially in today's digital age.

What is Seagate's financial condition?

Seagate has consistently shown robust performance, reporting solid earnings and maintaining a stable financial outlook.

Who are Seagate's main competitors?

Seagate's main competitor is Western Digital, with both companies forming a practical duopoly in the data storage market.

Seagate Technology Holdings plc

Nasdaq:STX

STX Rankings

STX Stock Data

21.55B
209.99M
0.53%
91.34%
5.55%
Computer Storage Device Manufacturing
Manufacturing
Link
United States of America
SINGAPORE