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.
Seagate Technology Holdings Plc (STX) delivers mission-critical data storage solutions powering global enterprises and consumer markets. This dedicated news hub provides investors and industry professionals with timely updates on corporate developments shaping the digital infrastructure landscape.
Access verified press releases and analysis covering Seagate's financial performance, product innovations, and strategic partnerships. Our curated collection includes earnings announcements, technology breakthroughs in hard drive capacity, and operational updates from this vertically integrated manufacturer.
Key focus areas include enterprise storage advancements, cloud infrastructure trends, and manufacturing developments impacting data center economics. Bookmark this page to monitor how Seagate navigates evolving demands in AI-driven storage architectures and sustainable technology solutions.
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.
Alfa Romeo F1 Team ORLEN partners with Seagate Technology to address digital storage challenges using Seagate Lyve Cloud. This collaboration aims to manage the gigabytes of data generated during Formula One races while reducing costs and complexities of cloud storage. Seagate's platform offers data privacy, vendor freedom, and eliminates API charges and egress fees. The partnership enables Alfa Romeo to scale data storage efficiently, supporting their operational needs as they compete in the 2022 Formula One championship. Branding will feature on the team's cars.
Seagate Technology Holdings plc (NASDAQ: STX) announced its commitment to achieve 100% renewable energy by 2030 and carbon neutrality by 2040, as part of its 16th Global Citizenship Annual Report. In FY2021, the company exceeded its energy conservation goal by saving approximately 23,000 MWh. Seagate also reported a 17% reduction in hazardous waste generation per exabyte and a 9% increase in water recycling. The report highlights advancements in diversity, including a rise in women in leadership positions and recognition for LGBTQ+ equity.
Seagate Technology Holdings plc (NASDAQ: STX) will announce its fiscal third quarter 2022 financial results on April 27, 2022, prior to market opening. A conference call to discuss these results is scheduled for 6:00 a.m. Pacific / 9:00 a.m. Eastern on the same day. Investors can access the live audio webcast via Seagate's Investor Relations website. Founded over 40 years ago, Seagate has shipped more than three billion terabytes of data capacity and continues to innovate data storage solutions.
Seagate Technology (NASDAQ: STX) and Phison Electronics Corp. announced a partnership to enhance their NVMe SSD portfolio targeting enterprise storage applications. This collaboration aims to develop high-performance, high-density SSDs that reduce total cost of ownership (TCO) through improved efficiency and power consumption. Seagate's expertise will be combined with Phison's advanced technology to meet the growing demand for storage solutions in areas like AI, cloud storage, and high-performance computing. Detailed product announcements are expected in summer 2022.
ROVE, a Veteran-owned systems integrator, has partnered with Seagate Technology (NASDAQ: STX) to enhance mass data storage solutions across the Southeast Region. This collaboration focuses on Lyve Mobile and Lyve Cloud to streamline data transport and management for enterprises. With 78% of businesses opting for physical data transport due to network limitations, the partnership aims to reduce storage TCO and improve customer data handling. ROVE aims to leverage Seagate's infrastructure to meet growing demands for advanced storage solutions.
Seagate Technology (NASDAQ: STX) has launched its cloud storage platform, Lyve Cloud, in Singapore, enhancing accessibility for global enterprises. Celebrating its anniversary, the platform focuses on providing simplicity, flexibility, and cost predictability in data management. With over 50 ecosystem partnerships, including Zadara and Equinix, Lyve Cloud aims to optimize mass data utilization. Key features include no lock-in, no API charges, and no egress fees, along with ISO27001 and SOC2 certifications ensuring data security.
Zadara collaborates with Seagate Technology Holdings plc (NASDAQ: STX) to enhance their Lyve Cloud platform by integrating Zadara's zCompute, an elastic and expert-managed compute infrastructure. This partnership aims to provide customers with scalable and cost-effective cloud computing solutions. Key zCompute features include a flexible consumption model, instant provisioning, and 24/7 managed support, addressing enterprises' need for high-performance workloads. This initiative aligns with Seagate's vision of simplifying data management for large-scale applications.
Seagate Technology Holdings (NASDAQ: STX) will present at the Morgan Stanley Technology, Media & Telecom Conference on March 8, 2022. The presentation is scheduled for 9:45 AM PT / 12:45 PM ET. Investors can access a live webcast via Seagate's Investor Relations website, with a replay available for at least 30 days post-event. Seagate is known for its data storage solutions, having shipped over three billion terabytes of data capacity globally over the last 40 years.
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