Welcome to our dedicated page for Seagate Technology Holdings news (Ticker: STX), a resource for investors and traders seeking the latest updates and insights on Seagate Technology Holdings stock.
Seagate Technology Holdings plc reports developments in mass-capacity data storage, including hard disk drive technology, enterprise storage demand, and consumer storage products. The company serves hyperscale cloud providers, enterprises, and consumers with storage solutions used to protect, create, manage, and scale data.
Recurring Seagate news includes fiscal results, dividend actions, investor-event participation, board governance updates, and product announcements across its Seagate, FireCuda, and LaCie brands. Technology updates also cover its Mozaic platforms, HAMR-based storage, high-capacity drives, and customer qualification activity in hyperscale environments.
Phison Electronics Corp. has launched its innovative X1 SSD platform designed for data centers, developed in partnership with Seagate Technology Holdings. The X1 SSD boasts over a 30% increase in data read performance while consuming the same power as existing competitors. This platform is aimed at enhancing enterprise storage solutions, particularly in high-performance computing, artificial intelligence, and hyperscale applications. The collaboration aims to provide increased density, performance, and power efficiency, reinforcing Phison's commitment to setting new standards in enterprise storage.
Seagate reported Q4 FY 2022 revenue of $2.63 billion, down from $3.01 billion in Q4 FY 2021. GAAP diluted EPS was $1.27, compared to $2.07 year-over-year. For the full fiscal year, revenue rose to $11.66 billion with a GAAP gross margin of 29.7%. Cash flow from operations was $1.7 billion. Despite stable demand in mass capacity storage, the company is adjusting production in light of macroeconomic uncertainties. A quarterly dividend of $0.70 per share has been declared, to be paid on October 5, 2022.
Seagate Technology Holdings plc (NASDAQ: STX) will announce its fourth quarter and fiscal year 2022 financial results post-market on July 21, 2022. A conference call for investors will be held at 2:00 p.m. Pacific / 5:00 p.m. Eastern on the same day to discuss these results. The conference call can be accessed on Seagate’s Investor Relations website. Seagate continues to innovate in data storage solutions, shipping over three billion terabytes of data capacity over its 40-year history.
The Multicloud Maturity Report from Seagate (NASDAQ: STX) highlights the challenges of multicloud complexity and rising data costs, emphasizing the importance of managing these effectively to boost business value. The report reveals that organizations demonstrating multicloud maturity can significantly outperform competitors, achieving revenue goals nearly twice as often and accelerating market entry by 6.3 times. It underscores the need for data-centric strategies to eliminate friction and unlock the potential of the growing global datasphere, which is expected to double in size every three years.
Seagate Technology Holdings plc (NASDAQ: STX) announced its participation in two upcoming investor events. The Morgan Stanley 7th Annual Sustainable Futures Conference is scheduled for May 24, 2022, at 7:15 AM PT. Following this, the Bank of America Global Technology Conference will take place on June 8, 2022, at 9:30 AM PT. Live webcasts of both events will be available on Seagate's Investor Relations website, with replays accessible for 30 days post-event.
Hammerspace and Seagate Technology Holdings plc (NASDAQ: STX) have partnered to offer automated data orchestration and unified data access across Seagate’s Lyve Cloud and Exos CORVAULT. This collaboration allows customers to integrate data from various sources into a Global Data Environment, improving accessibility and management across multi-site hybrid cloud infrastructures. Seagate’s Lyve Cloud provides data privacy and cost-effective storage solutions, enabling organizations to efficiently manage and utilize massive data sets without incurring extra charges for data movement.
Seagate Technology (NASDAQ: STX) plans to expand its Lyve Cloud services by adding seven new global regions, including locations in the U.S., U.K., Germany, India, and Japan. This will increase its total cloud presence to ten regions with 16 availability zones. The company is launching Lyve Cloud Archive for optimized storage costs and a new Lyve Cloud Marketplace for tailored partner solutions. Notably, Seagate aims to achieve HIPAA compliance in the U.S. to cater to the healthcare sector. These initiatives aim to enhance data accessibility and support mass data growth.
Seagate has launched three collectible Hard Disk Drives (HDD) inspired by popular Star Wars characters: Boba Fett™, Grogu™, and The Mandalorian™. These special edition drives celebrate Star Wars Day on May 4th and are available for $109.99 each with a capacity of 2TB. Designed for compatibility with PC, Mac, PlayStation, and Xbox, they feature customizable RGB LED lighting. Each purchase includes a five-year warranty and three years of Rescue Data Recovery Services™. This initiative strengthens Seagate's position in the gaming and collectibles market.
StorONE has partnered with Seagate Technology to launch a new hybrid storage solution aimed at reducing production, archive, and backup storage costs. This solution, featuring the Exos AP BV-1 module and StorONE’s Enterprise Storage Platform, enhances ransomware protection through various features including Flash-First Backups and improved immutability of backup jobs. The solution supports several configurations tailored for different data center needs, showcasing StorONE's focus on optimizing performance and minimizing costs.
Seagate Technology reported fiscal Q3 2022 revenue of $2.8 billion, with GAAP diluted EPS at $1.56 and non-GAAP diluted EPS at $1.81. Cash flow from operations reached $460 million, while free cash flow was $363 million. The company returned $571 million to shareholders through dividends and share repurchases. Despite record nearline product revenue, macro challenges affected profitability. Seagate anticipates double-digit revenue growth for the fiscal year, aided by strong cloud demand and new high-capacity products.