Welcome to our dedicated page for Seagate Technology Holdings PLC Ordinary Shares (Ireland) news (Ticker: STX), a resource for investors and traders seeking the latest updates and insights on Seagate Technology Holdings PLC Ordinary Shares (Ireland) stock.
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) plans to expand its Lyve Cloud services by adding seven new global regions, including locations in the U.S., U.K., Germany, India, and Japan. This will increase its total cloud presence to ten regions with 16 availability zones. The company is launching Lyve Cloud Archive for optimized storage costs and a new Lyve Cloud Marketplace for tailored partner solutions. Notably, Seagate aims to achieve HIPAA compliance in the U.S. to cater to the healthcare sector. These initiatives aim to enhance data accessibility and support mass data growth.
Seagate has launched three collectible Hard Disk Drives (HDD) inspired by popular Star Wars characters: Boba Fett™, Grogu™, and The Mandalorian™. These special edition drives celebrate Star Wars Day on May 4th and are available for $109.99 each with a capacity of 2TB. Designed for compatibility with PC, Mac, PlayStation, and Xbox, they feature customizable RGB LED lighting. Each purchase includes a five-year warranty and three years of Rescue Data Recovery Services™. This initiative strengthens Seagate's position in the gaming and collectibles market.
StorONE has partnered with Seagate Technology to launch a new hybrid storage solution aimed at reducing production, archive, and backup storage costs. This solution, featuring the Exos AP BV-1 module and StorONE’s Enterprise Storage Platform, enhances ransomware protection through various features including Flash-First Backups and improved immutability of backup jobs. The solution supports several configurations tailored for different data center needs, showcasing StorONE's focus on optimizing performance and minimizing costs.
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.
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