Welcome to our dedicated page for Seagate Technology Hldngs Plc news (Ticker: STX), a resource for investors and traders seeking the latest updates and insights on Seagate Technology Hldngs Plc stock.
News for Seagate Technology Holdings plc (NASDAQ: STX) centers on its role as a mass-capacity data storage company and its ongoing communication with investors and the broader market. Seagate’s releases highlight financial performance, product developments, capital structure actions, and corporate governance decisions that shape the company’s trajectory.
Investors following STX news will see quarterly and annual financial results, where Seagate reports revenue, margins, cash flow from operations, free cash flow, and related non-GAAP measures. These updates often include commentary on demand for high-capacity storage products and guidance for upcoming fiscal quarters, along with information on declared cash dividends.
Seagate’s news flow also features product and technology announcements tied to mass-capacity storage. For example, the company has discussed high-capacity hard drives and an edge-to-cloud portfolio designed to support AI-driven video analytics and other data-intensive workloads. Such announcements describe how Seagate’s storage offerings are used to manage rapid data growth at the edge and in data centers.
Another recurring theme in Seagate news is capital markets and financing activity, including exchanges of exchangeable senior notes and exchange offers for various series of senior notes. The company issues press releases when these transactions are announced and when they close, outlining principal amounts involved and the structure of the exchanges.
Corporate governance and investor relations updates appear as well, such as participation in investor conferences, appointments to the board of directors, and details about the annual general meeting and shareholder votes. For ongoing coverage of STX, this news page aggregates these categories of information so readers can monitor Seagate’s financial reporting, product direction, and key corporate events over time.
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Seagate Technology (NASDAQ: STX) announced significant progress in its Sustainable Datasphere FY2022 ESG Performance Report. The company is over 50% towards its 2030 goal of powering its global operations with renewable energy. In FY2022, Seagate extended the life of 1.16 million HDDs and SSDs, preventing 540 metric tons of e-waste. Four of its seven manufacturing sites now operate fully on renewable energy, covering over half of its total energy use. The report also highlights initiatives like saving 21,000 MWh through efficiency programs and a 9.1% increase in patents with female inventors. Seagate aims for carbon neutrality by 2040 and is a founding member of the Circular Drive Initiative, focusing on sustainable practices in the tech industry.
Seagate Technology Holdings reported fiscal Q3 2023 results with a revenue of $1.86 billion, a significant decline from $2.80 billion in Q3 2022. The company faced a GAAP loss per share of $(2.09) impacted by reduced nearline demand and $300 million in settlement penalties. Despite the challenges, Seagate generated $228 million in cash flow from operations and $174 million in free cash flow. A quarterly dividend of $0.70 per share has been declared, payable on July 5, 2023. In response to the current market, a restructuring plan has been initiated, expected to yield annual savings of $200 million starting in Q1 2024. Looking ahead, demand recovery is anticipated late this year.
Seagate Technology Holdings (NASDAQ: STX) announced a settlement with the U.S. Bureau of Industry and Security regarding allegations of improper sales of hard disk drives to Huawei between August 2020 and September 2021. The settlement entails a payment of $300 million to be made in quarterly installments of $15 million over five years, starting in October 2023. CEO Dave Mosley stated that this resolution is in the best interest of the company and its stakeholders, allowing Seagate to focus on business challenges and its technology roadmap. The fiscal third quarter 2023 financial results will be reported on April 20, 2023, with a conference call to discuss the settlement and results scheduled for the same day.
Seagate Technology Holdings plc (NASDAQ: STX) is set to release its fiscal third-quarter 2023 financial results on Thursday, April 20, 2023, after market closure. An investor conference call will follow at 1:30 p.m. PT / 4:30 p.m. ET. The results will be available through a live audio webcast on Seagate's Investor Relations website.
Seagate, a leader in data storage solutions, has been innovating for over 40 years, with a shipment of over 3 billion terabytes of data capacity. Investors can keep track of updates via social media platforms or the company’s blog.
Newegg Commerce (NASDAQ: NEGG) has partnered with MSI Computer Corp. and Seagate Technology (NASDAQ: STX) to launch a college basketball-themed marketing campaign featuring Jaylen Clark, a standout player from UCLA. Known for his defensive prowess, Clark, who was named Pac-12 Defensive Player of the Year, will promote products like the MSI Katana 15 Gaming Laptop and Seagate’s Expansion external hard drive. The partnership aims to capitalize on Clark's popularity and his dual role as a student-athlete and content creator. The campaign emphasizes technology's role in both gaming and academics.
Seagate Technology Holdings (NASDAQ: STX) announced its participation in the Morgan Stanley Technology, Media & Telecom Conference on March 8, 2023, at 10:25 AM PT (1:25 PM ET). This event will feature a live webcast accessible via Seagate's Investor Relations website, with a replay available for 30 days. As a leading provider of mass-data storage solutions, Seagate has been at the forefront of technology innovation for over 40 years, delivering over three billion terabytes of data capacity worldwide. The company focuses on sustainable partnerships and offers precision-engineered data management solutions.
Seagate Technology Holdings plc (NASDAQ: STX) reported financial results for its fiscal second quarter ended December 30, 2022. The Company achieved a revenue of $1.89 billion, with a GAAP diluted loss per share of $(0.16) and a non-GAAP EPS of $0.16. The quarter saw cash flow from operations of $251 million and free cash flow of $172 million. The Board declared a cash dividend of $0.70 per share, payable on April 6, 2023. Despite a challenging macroeconomic environment, CEO Dave Mosley emphasized Seagate's commitment to product innovation and positive cash flow generation.