Seagate Technology Hldngs Plc - STX STOCK NEWS

Seagate Technology (NASDAQ: STX) will participate in the Morgan Stanley Technology, Media and Telecom Conference on March 2, 2021. The presentation is scheduled to begin at 10:15 AM PT / 1:15 PM ET. Investors can access a live audio webcast on Seagate's Investor Relations website, with a replay available for 30 days post-event. Seagate is known for its innovative data management solutions and aims to enhance humanity's potential through sustainable partnerships.

Seagate Technology (NASDAQ: STX) will host a virtual analyst and investor event on February 24, 2021, starting at 9:00 a.m. PT. The event will cover Seagate's strategies for capturing the demand for mass-capacity storage and managing data complexity in distributed enterprises.

Presentations will be led by Seagate's leadership team and will include details on the company's long-term financial model. A live video webcast will be available on Seagate's Investor Relations website, with a replay accessible afterward.

Seagate Technology (NASDAQ: STX) reported fiscal Q2 2021 results with revenue of $2.623 billion, slightly down from $2.696 billion a year prior. Net income fell to $280 million ($1.12 per diluted share) compared to $318 million ($1.20 per share) in Q2 2020. Despite revenue declines, Seagate achieved strong cash flow, generating $473 million in operations and $314 million in free cash flow. The company announced a quarterly cash dividend of $0.67 per share and repurchased 18 million shares for $1 billion during the quarter.

Seagate Technology (NASDAQ: STX) is set to release its fiscal Q2 2021 financial results on January 21, 2021, after market closure. A conference call to discuss these results will follow at 1:30 p.m. Pacific / 4:30 p.m. Eastern. Investors can access the live audio webcast on Seagate's Investor Relations website.

As a leader in data management solutions, Seagate focuses on sustainability and innovation to maximize potential in the datasphere. For more information, visit their website or follow them on social media.

Seagate Technology (NASDAQ: STX) has appointed Pratik "Prat" Bhatt to its Board of Directors and Audit and Finance Committee, effective December 24, 2020. Bhatt, currently the Chief Accounting Officer at Cisco, brings over 20 years of financial leadership experience. His expertise in finance strategy, risk management, and capital allocation is expected to provide valuable insights to Seagate. The appointment aims to strengthen the board's capabilities in navigating the evolving data storage industry.

Seagate Technology has announced the development of two processors based on the open RISC-V instruction set architecture. The high-performance core can triple the real-time processing power for HDD workloads, while the area-optimized core is designed for power savings. Both cores enhance data security and mobility, crucial for today's data-driven environments. This announcement marks the culmination of years of collaboration with RISC-V International, aimed at advancing computational storage and scientific data analysis capabilities.

Seagate HDD Cayman announced a private offering of $1 billion in senior notes, with $500 million maturing in 2029 at 3.125% interest and $500 million maturing in 2031 at 3.375%. The notes are fully guaranteed by Seagate and will close on December 8, 2020, subject to customary conditions. Proceeds will be used for share repurchases and general corporate purposes, including debt repayment and capital expenditures. This offering is conducted under Rule 144A and Regulation S of the Securities Act.

Seagate HDD Cayman has announced plans to offer up to $1 billion in senior notes due 2029 and 2031 in a private placement to qualified institutional buyers. The proceeds will be used for share repurchases and general corporate purposes, including potential debt repayment and capital expenditures. The offering will be guaranteed by Seagate. This move is subject to market conditions, and the notes will not be registered under the Securities Act, limiting their offering in the U.S. The company cautions that forward-looking statements may not guarantee the offering's completion.

Seagate Technology plc (NASDAQ: STX) will participate in the virtual Wells Fargo TMT Summit 2020 on December 1, 2020. The presentation is scheduled for 10:20 AM PT / 1:20 PM ET. Investors can access a live audio webcast on Seagate’s Investor Relations website. A replay of the webcast will be available for 30 days post-event. Seagate focuses on data storage solutions, aiming to maximize potential through sustainable data management innovations.