Seagate Technology Hldngs Plc Stock Price, News & Analysis

Seagate Data Storage Technology, a subsidiary of Seagate Technology Holdings (NASDAQ: STX), has announced the pricing of a $400 million private offering of senior notes due 2030. The notes, priced at 100% of the principal amount, will bear interest at 5.875% per annum with closing expected around May 27, 2025.

The company plans to use the proceeds, along with cash on hand, to redeem all outstanding 4.875% Senior Notes due 2027. The new notes will be offered exclusively to qualified institutional buyers under Rule 144A and certain non-U.S. persons under Regulation S of the Securities Act.

Seagate Data Storage Technology, a subsidiary of Seagate Technology Holdings (NASDAQ: STX), has announced plans to offer $400.0 million in senior notes due 2030 through a private placement to qualified institutional buyers. The notes will be guaranteed by Seagate, Seagate Technology Unlimited Company, and Seagate HDD Cayman. In conjunction with this offering, Seagate HDD Cayman has issued a notice to redeem all outstanding 4.875% Senior Notes due 2027. The redemption will be at 100% of principal value plus a "make-whole" premium and accrued interest. The company plans to use the proceeds from the new notes offering, combined with available cash, to finance this redemption and cover related expenses.

Seagate Technology (NASDAQ: STX) has announced an upcoming investor and analyst event scheduled for May 22, 2025, in New York City. The event will feature presentations from Seagate's executive team and will run from 9:00 AM to approximately 12:00 PM Eastern time. While in-person attendance requires advanced registration and is limited to institutional investors and equity research analysts, a live video webcast will be available on Seagate's Investor Relations website. A replay of the event will also be made available afterwards.

Seagate Technology reported strong financial results for fiscal Q3 2025, with revenue reaching $2.16 billion and GAAP diluted EPS of $1.57. The company's non-GAAP EPS reached $1.90, hitting the top of their guidance range.

Key financial highlights include:

• Cash flow from operations: $259 million
• Free cash flow: $216 million
• Quarterly dividend: $0.72 per share
• Gross margin improved to 35.2% (GAAP)
• Net income: $340 million (GAAP)

The company reduced its debt by $536 million to $5.1 billion and maintained $814 million in cash reserves. Looking ahead, Seagate projects Q4 2025 revenue of $2.40 billion (±$150M) with non-GAAP EPS guidance of $2.40 (±$0.20). CEO Dave Mosley highlighted the company's focus on HAMR product development and expressed confidence in continued profitable growth through 2025 and beyond.

Seagate Technology (NASDAQ: STX) has released its 'Decarbonizing Data' report, highlighting sustainability challenges in data centers amid growing AI demands. The report reveals that 53.5% of business leaders cite energy usage as a top concern, with Goldman Sachs forecasting data center power demand to surge 165% by 2030 compared to 2023.

Key findings show that 94.5% of respondents report increasing storage needs, with 97% expecting AI growth to further impact demand. While 95% express environmental concerns, only 3.3% prioritize it in purchasing decisions. Major barriers include high energy consumption (53.5%), raw material requirements (49.5%), and space constraints (45.5%).

Seagate's HAMR-based Mozaic 3+ platform offers solutions by enabling 3x more capacity in the same footprint, reducing embodied carbon by 70% per terabyte, and lowering cost per terabyte by 25%.

Seagate Technology (NASDAQ: STX) has announced it will release its fiscal third quarter 2025 financial results after market close on Tuesday, April 29, 2025. The company will host an investment community conference call to discuss the results at 2:00 PM PT / 5:00 PM ET on the same day. Investors and interested parties can access the live audio webcast through Seagate's Investor Relations website at investors.seagate.com.

Seagate Technology Holdings (Nasdaq: STX) has completed the acquisition of Intevac Inc. through a cash tender offer and subsequent merger. The transaction, announced on February 13, 2025, valued Intevac shares at $4.00 per share in cash.

The tender offer expired on March 28, 2025, with approximately 87.95% of Intevac's outstanding shares (23,968,013 shares) being validly tendered. The merger was completed on March 31, 2025, making Intevac a wholly owned subsidiary of Seagate. Following the acquisition, Intevac shares ceased trading and were delisted from the Nasdaq Global Select Market.

Seagate Technology Holdings (NASDAQ: STX) has announced its management's participation in three upcoming investor events in March 2025. The company will present at the Morgan Stanley Technology, Media & Telecom Conference on March 4, 2025, at 10:45 AM PT / 1:45 PM ET, along with hosting investor meetings.

Additionally, Seagate will host investor meetings at the Loop Capital Markets 6th Annual Investor Conference on March 11, 2025, and the Cantor Fitzgerald Global Technology Conference on March 12, 2025.

Investors can access the live webcast through Seagate's Investor Relations website at investors.seagate.com, with replays available for at least 30 days after each event.

Seagate Technology Holdings (STX) has announced a definitive agreement to acquire Intevac (IVAC) in an all-cash transaction valued at approximately $119 million. Intevac stockholders will receive $4.00 per share in cash, plus a special dividend of $0.052 per share and a regular quarterly dividend of $0.05 per share, totaling $4.102 per share.

The offer represents a 45% premium to Intevac's closing price of $2.83 on December 11, 2024, and a 21% premium to its February 12, 2025 closing price. Two major stockholders, representing approximately 22% of Intevac's shares, have agreed to support the transaction. The deal is expected to close in late March or early April 2025, subject to customary conditions including a minimum tender of over 50% of shares.

Seagate expects the acquisition to be accretive to non-GAAP EPS over the long-term with minimal short-term impact.