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Seagate Technology Holdings PLC (Ireland) (symbol: STX) is a leading global company known for its precision-engineered data storage technologies. Founded in 1979, Seagate has consistently been at the forefront of innovation in the data storage industry. The company specializes in providing hard disk drives (HDDs) and other data storage solutions for both enterprise and consumer markets.
Seagate is a critical player in the data storage industry, forming a practical duopoly with its main competitor, Western Digital. Both companies are vertically integrated, meaning they manage nearly all aspects of production and distribution, ensuring high-quality and reliable products.
With a diverse workforce of 40,000 employees spread across key global hubs such as Silicon Valley, the United Kingdom, Singapore, India, and China, Seagate leverages its international presence to drive technological advancements and meet the growing demand for data storage solutions. The company's expertise in creating storage solutions that offer superior capacity, speed, safety, and performance makes it a preferred choice for businesses and consumers alike.
Seagate's recent achievements include advancements in HAMR (Heat-Assisted Magnetic Recording) technology, which promises to significantly enhance data storage density and efficiency. Moreover, Seagate is actively involved in developing edge and cloud storage solutions, thereby catering to the needs of modern data-centric applications and industries.
In terms of financial health, Seagate has consistently shown robust performance, reporting solid earnings and maintaining a stable financial outlook. The company has also established numerous partnerships with other technology firms to further enhance its product offerings and market reach.
Seagate remains committed to harnessing data to maximize human potential, continually pushing the boundaries of what is possible in data storage technology. As data continues to grow exponentially in today's digital age, Seagate's role in providing reliable and efficient storage solutions becomes increasingly essential.
Seagate Technology (NASDAQ: STX) has announced its participation in three major investor events in December 2024. The company will present at the UBS Global Technology and AI Conference on December 3, the Wells Fargo TMT Summit on December 4, and the Barclays Global Technology Conference on December 11. Each event includes a presentation and investor meetings. Live webcasts will be available on Seagate's Investor Relations website, with replays accessible for at least 30 days after each event.
Seagate Technology reported strong financial results for its fiscal first quarter 2025. Revenue increased to $2.17 billion, with GAAP diluted EPS of $1.41 and non-GAAP diluted EPS of $1.58. The company generated $95 million in cash flow from operations and $27 million in free cash flow. Notably, gross margin expanded to the highest level in over a decade.
CEO Dave Mosley highlighted the successful ramp-up of 28-terabyte nearline drives and increased cloud customer qualifications for HAMR-based Mozaic products. The company's confidence in future opportunities led to a 3% increase in the quarterly cash dividend to $0.72 per share. Seagate's strong product momentum positions it well to address customer demand and deliver profitable growth.
Seagate Technology Holdings plc (NASDAQ: STX), a leader in mass-capacity data storage innovation, has announced it will release its fiscal first quarter 2025 financial results after market close on Tuesday, October 22, 2024. The company will host an investment community conference call to discuss these results on the same day at 2:00 PM PT / 5:00 PM ET. Interested parties can access the live audio webcast of the call through Seagate's Investor Relations website at investors.seagate.com. This announcement provides investors and analysts with a scheduled opportunity to review and discuss Seagate's financial performance for the quarter.
Seagate Technology Holdings plc (NASDAQ: STX), a leader in mass-capacity data storage, has announced its participation in three upcoming investor events. These include:
- The Evercore ISI Semiconductor, IT Hardware & Networking Conference on August 27, 2024, where Seagate will host investor meetings.
- The Citi's 2024 Global TMT Conference on September 4, 2024, featuring a presentation at 7:00 AM PT / 10:00 AM ET and investor meetings.
- The Benchmark 2024 Tech, Media & Telecom Conference on September 5, 2024, where Seagate will host investor meetings.
A live webcast of the events will be available on Seagate's Investor Relations website, with replays accessible for at least 30 days after each event.
Seagate Technology (NASDAQ: STX) has launched its e-commerce website in Canada, following its successful U.S. debut in February. The site offers a localized shopping experience for English and French-speaking customers, allowing direct purchase of Seagate's storage products. To celebrate the launch, Seagate is offering a 10% sitewide discount on full-priced Seagate and LaCie hard drives for two weeks using the code SEAGATE10. Additionally, the IronWolf® Pro 18TB NAS drive is discounted to CA$409.99 from CA$479.99.
The expansion aims to strengthen Seagate's relationship with Canadian customers and provide access to exclusive promotions and real-time support. The company plans to further expand its e-commerce presence to Europe later this year.
Seagate Technology (NASDAQ: STX) reported strong financial results for Q4 and fiscal year 2024. Q4 revenue grew 18% year-over-year to $1.89 billion, with non-GAAP gross margin expanding to nearly 31%. Non-GAAP EPS of $1.05 exceeded guidance. For FY2024, revenue was $6.55 billion with non-GAAP EPS of $1.29.
The company generated $434 million in cash flow from operations and $380 million in free cash flow in Q4. Seagate sold its System-on-Chip Operations for $600 million. For FY2024, cash flow from operations was $918 million and free cash flow was $664 million. The company declared a quarterly dividend of $0.70 per share.
CEO Dave Mosley noted an improving cloud demand environment and emphasized focus on profitability, supply discipline, and executing the mass capacity product roadmap anchored by HAMR technology.
Seagate Technology (NASDAQ: STX) announced it will release its fourth quarter and fiscal year 2024 financial results on July 23, 2024, after the market closes.
The company, known for its innovations in mass-capacity data storage, will host an investment community conference call at 2:00 PM PT / 5:00 PM ET on the same day to discuss these results.
Interested parties can access the live audio webcast via Seagate's Investor Relations website at investors.seagate.com.
Seagate Technology (NASDAQ: STX) has partnered with eBay to launch an official storefront for factory-recertified hard drives. This collaboration is part of Seagate's Circularity Program aimed at reducing e-waste by extending the lifespan of storage devices. Through this program, Seagate has recertified approximately 1.19 million hard drives and SSDs in FY2023, preventing 553 metric tons of e-waste. The recertified drives adhere to strict data sanitization standards and come with a warranty. eBay supports this initiative as part of its sustainability efforts to reduce greenhouse gas emissions.
Seagate Technology Holdings announced the appointment of Jim Lee as Senior Vice President, Chief Legal Officer, and Corporate Secretary. Lee previously worked at Maxar Technologies, where he strengthened legal and compliance functions, built a successful litigation track record, and played a key role in complex transactions. Lee has also spent nearly 15 years at Aramark in various leadership roles. He holds a J.D. from Harvard Law School and a B.A. in economics from Yale University. Seagate's CEO, Dave Mosley, expressed enthusiasm for Lee's extensive experience and legal knowledge, anticipating significant contributions to Seagate's innovation in storage technology.
Seagate Technology Holdings (NASDAQ: STX) has announced its participation in two significant investor events. The first event is the TD Cowen 52nd Annual Technology, Media & Telecom Conference, scheduled for May 29, 2024, where Seagate will present at 8:25 AM PT / 11:25 AM ET and host investor meetings. The second event is the Bank of America Securities Global Technology Conference 2024 on June 4, 2024, with a presentation at 9:20 AM PT / 12:20 PM ET, also followed by investor meetings. Both presentations will be accessible through live webcasts on Seagate's Investor Relations website, with replays available for 30 days post-event.
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