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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 (STX) reported strong fiscal Q2 2025 results with revenue increasing to $2.33 billion. The company achieved GAAP diluted EPS of $1.55 and non-GAAP diluted EPS of $2.03. Financial highlights include cash flow from operations of $221 million and free cash flow of $150 million.
The company demonstrated structural improvements and value capture in an improving demand environment, achieving decade-high gross margin performance in the December quarter. GAAP gross margin reached 34.9%, while operating margin stood at 21.0%. The company began ramping HAMR-based Mozaic products to its lead cloud customer and is sampling capacities up to 36 terabytes.
Seagate returned $148 million to shareholders through quarterly dividends and declared a cash dividend of $0.72 per share, payable on April 2, 2025. Cash and cash equivalents totaled $1.2 billion at quarter-end.
Seagate Technology (NASDAQ: STX) announced shipments of Exos M hard drives with capacities up to 36TB to select customers. Based on their Mozaic 3+ HAMR technology, the drives offer significant advantages for data centers, including:
- 300% more storage capacity in the same footprint
- 25% cost reduction per terabyte
- 60% reduction in power consumption per terabyte
The company is currently ramping up volume shipments of 32TB drives with a leading cloud service provider. Dell Technologies will integrate the 32TB drives into their high-density storage systems. Seagate is the only manufacturer capable of achieving 3.6TB per platter density, with plans to increase to 10TB per platter. The company has already demonstrated capacities over 6TB per disk in test environments.
Seagate Technology's commissioned global survey reveals significant insights about AI-driven data storage growth. According to the Recon Analytics study spanning 15 industries and 10 countries, 61% of cloud storage users expect their storage needs to more than double by 2028.
The survey highlights that 72% of respondents currently use AI, with storage ranking as the second most important component of AI infrastructure, following security. Notable findings show that 90% of AI-adopting businesses believe longer data retention improves AI outcomes, while 88% indicate that Trustworthy AI requires increased data storage duration.
The study confirms that hard drives remain the dominant storage medium for cloud services, with IDC estimating that 89% of data stored by leading cloud service providers uses hard drives. This trend aligns with organizations' growing need to retain data longer for optimal AI model training and ensuring data integrity.
Seagate Technology Holdings (NASDAQ: STX) has announced it will release its fiscal second quarter 2025 financial results after market close on Tuesday, January 21, 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 (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.
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