Latest news with #Mozaic
Techday NZ
25-05-2025
- Business
- Techday NZ
Seagate raises share buyback to USD $5 billion, sets 2028 goals
Seagate has outlined its long-term strategy for value growth, new financial targets through fiscal year 2028, and an expansion of its share repurchase programme. At its 2025 Investor and Analyst Event, Seagate set out its approach to capitalising on data storage demand and driving both profitability and shareholder value. Dave Mosley, Seagate's Chief Executive Officer, stated, "Technology innovation and AI are fueling exponential data growth and driving demand for the hard drive storage industry." "Seagate today is uniquely positioned to capture this opportunity with our Mozaic portfolio powered by market-leading HAMR technology. Our differentiated portfolio addresses critical data centre challenges, including cost, scale and sustainability, enabling us to deliver storage solutions for customers from cloud to edge." He continued, "Since our last Investor and Analyst Event in 2021, we have made structural improvements to extend demand visibility, maintain supply discipline, optimise product mix, and streamline cost structure. We are a stronger company today thanks to the dedicated efforts of our global team." "This is an incredibly exciting time at Seagate, and we are confident we have the right technology and strategy to lead the next era of storage in today's data-driven world, while delivering enhanced value to shareholders." The company presented new financial targets set through the fiscal year 2028, which, according to Seagate, are underpinned by the adoption of its HAMR (Heat-Assisted Magnetic Recording) technology. This approach, the company asserts, provides a pathway from its current Mozaic 3+TB/disk product towards future 10+TB/disk capacities, responding to increasing requirements for mass-capacity storage. Mozaic is highlighted as Seagate's portfolio leveraging HAMR technology, targeted to address growing needs for both scale and efficiency in data centre environments. The roadmap outlined at the event details Seagate's intention to incrementally increase areal density and drive advancements in storage capacities, aiming to outpace industry requirements for enterprises and cloud providers alike. In addition to its product and strategy updates, Seagate announced that its Board of Directors has authorised an increase in share repurchase capacity, lifting the authorisation to USD $5 billion. This expanded authorisation, which does not carry a time limit, demonstrates what the company says is an ongoing commitment to returning capital to shareholders and reflects its confidence in its strategic direction and financial health. The company noted that any share repurchases would be subject to Seagate's financial position, performance, cash availability, capital demands, distributable reserves, and other considerations evaluated by the board. The increased focus on long-term profitability is positioned around both continued execution and operational discipline, as well as targeted investment in storage technologies. Seagate referenced structural changes since 2021 as key drivers enhancing its capacity to address market cycles and project financial visibility. Seagate reinforced its view that exponential data growth, fuelled by technology and artificial intelligence, is creating new demands within the hard drive storage industry. The company asserts its Mozaic HAMR-based portfolio offers competitive advantages on cost, scalability, and environmental considerations, intended to support deployment across cloud and edge environments. The company's materials presented during the event confirm plans for a sequence of product launches that continue the expansion of its Mozaic line, with a strategic focus on capacity increases critical to both hyperscale and enterprise markets. Seagate reports it has shipped more than four billion terabytes of data capacity since its founding, and maintains a product portfolio that covers data storage requirements from edge compute locations to core cloud data centres.
TECHx
23-05-2025
- Business
- TECHx
Seagate Technology Reveals 2025 Strategy and Outlook
Home » Emerging technologies » Storage » Seagate Technology Reveals 2025 Strategy and Outlook Seagate Technology announced its 2025 Investor and Analyst Event, revealing a strategic plan to drive growth, boost profitability, and build long-term value for customers and shareholders. The company, listed on NASDAQ as STX, reported that technology innovation and artificial intelligence are driving rapid data growth. This trend is fueling demand in the hard drive storage industry. Seagate stated it is well-positioned to meet this demand with its Mozaic portfolio, powered by advanced HAMR (Heat-Assisted Magnetic Recording) technology. According to CEO Dave Mosley, the portfolio addresses key challenges such as cost, scale, and sustainability. Mosley noted that Seagate delivers end-to-end storage solutions from cloud to edge, designed to support customers in a data-driven world. Since its 2021 Investor and Analyst Event, Seagate has: Made structural changes to improve supply and cost efficiency Enhanced product mix and extended demand visibility Mosley emphasized the company's strengthened position, crediting the global team's dedication. He expressed confidence in Seagate's strategy and technology to lead the future of data storage. During the event, Seagate revealed new financial targets through FY2028. These targets are supported by broader adoption of its HAMR technology. In addition, the company announced a $5 billion increase in its share repurchase authorization. The Board of Directors approved this move to reinforce Seagate's focus on capital returns and long-term confidence. The authorization has no time limit. Future repurchases will depend on several factors, including financial performance, cash flow, and capital needs.
Channel Post MEA
23-05-2025
- Business
- Channel Post MEA
Seagate Hosts 2025 Investor And Analyst Event
Seagate Technology Holdings hosted its 2025 Investor and Analyst Event and outlined the Company's clear strategy to capture growth opportunities ahead, drive profitability and build long-term value for customers and shareholders. 'Technology innovation and AI are fueling exponential data growth and driving demand for the hard drive storage industry. Seagate today is uniquely positioned to capture this opportunity with our Mozaic portfolio powered by market-leading HAMR technology. Our differentiated portfolio addresses critical data center challenges, including cost, scale and sustainability, enabling us to deliver storage solutions for customers from cloud to edge,' said Dave Mosley, Seagate's chief executive officer. 'Since our last Investor and Analyst Event in 2021, we have made structural improvements to extend demand visibility, maintain supply discipline, optimize product mix, and streamline cost structure. We are a stronger company today thanks to the dedicated efforts of our global team. This is an incredibly exciting time at Seagate, and we are confident we have the right technology and strategy to lead the next era of storage in today's data-driven world, while delivering enhanced value to shareholders,' concluded Mosley. During the event, the Company outlined new financial targets for the period through FY2028, which are supported by the adoption of HAMR technology. Additionally, Seagate announced today that its Board of Directors has increased Seagate's share repurchase authorization to $5 billion, underscoring its commitment to capital returns and confidence in the future. The authorization does not have a time limit and any share repurchases will be dependent on Seagate's financial position, results of operations, available cash, cash flow, capital requirements, distributable reserves, and other factors deemed relevant by the Company. 0 0
Mid East Info
23-05-2025
- Business
- Mid East Info
Seagate Highlights Strategy to Build Long-Term Value in Today's Data-driven World at 2025 Investor and Analyst Event
Seagate Highlights Strategy to Build Long-Term Value in Today's Data-driven World at 2025 Investor and Analyst Event Sets new financial targets through FY2028, underpinned by the adoption of Seagate's first-to-market HAMR technology and continued focused execution Unveils differentiated product roadmap, with clear path from Mozaic 3+TB/disk to 10+TB/disk Increases share repurchase authorization to $5 billion Dubai, United Arab Emirates, May 23, 2025 – Seagate Technology Holdings plc (NASDAQ: STX), a leading innovator of mass-capacity data storage, today hosted its 2025 Investor and Analyst Event and outlined the Company's clear strategy to capture growth opportunities ahead, drive profitability and build long-term value for customers and shareholders. 'Technology innovation and AI are fueling exponential data growth and driving demand for the hard drive storage industry. Seagate today is uniquely positioned to capture this opportunity with our Mozaic portfolio powered by market-leading HAMR technology. Our differentiated portfolio addresses critical data center challenges, including cost, scale and sustainability, enabling us to deliver storage solutions for customers from cloud to edge,' said Dave Mosley, Seagate's chief executive officer. 'Since our last Investor and Analyst Event in 2021, we have made structural improvements to extend demand visibility, maintain supply discipline, optimize product mix, and streamline cost structure. We are a stronger company today thanks to the dedicated efforts of our global team. This is an incredibly exciting time at Seagate, and we are confident we have the right technology and strategy to lead the next era of storage in today's data-driven world, while delivering enhanced value to shareholders,' concluded Mosley. During the event, the Company outlined new financial targets for the period through FY2028, which are supported by the adoption of HAMR technology. Additionally, Seagate announced today that its Board of Directors has increased Seagate's share repurchase authorization to $5 billion, underscoring its commitment to capital returns and confidence in the future. The authorization does not have a time limit and any share repurchases will be dependent on Seagate's financial position, results of operations, available cash, cash flow, capital requirements, distributable reserves, and other factors deemed relevant by the Company. Event Materials and Replay The full presentation and replay from today's 2025 Investor and Analyst Event can be accessed on Seagate's Investor Relations website at
Techday NZ
23-05-2025
- Business
- Techday NZ
Seagate unveils growth strategy, boosts share repurchases to USD $5bn
Seagate Technology has announced a new business strategy targeting financial and technological growth supported by its Heat-Assisted Magnetic Recording (HAMR) technology and a revised share repurchase program. The company has set new financial targets through its 2028 fiscal year, underpinned by the introduction and broader adoption of HAMR technology, which it claims will transform storage capacity and efficiency for hyperscale and enterprise data centres. As part of the announced strategy, Seagate also increased its share repurchase authorisation to USD $5 billion. Seagate outlined a product roadmap featuring its Mozaic platform, with projections to progress from 3+ terabytes per disk to more than 10 terabytes per disk in response to escalating demand for storage driven by artificial intelligence and cloud computing. The roadmap is designed to address increasing requirements from large-scale data centres, offering a scalable path to higher data storage densities. Dave Mosley, Seagate's Chief Executive Officer, said: "Technology innovation and AI are fueling exponential data growth and driving demand for the hard drive storage industry. Seagate today is uniquely positioned to capture this opportunity with our Mozaic portfolio powered by market-leading HAMR technology. Our differentiated portfolio addresses critical data center challenges, including cost, scale and sustainability, enabling us to deliver storage solutions for customers from cloud to edge." Mosley further commented: "Since our last Investor Day in 2021, we have made structural improvements to extend demand visibility, maintain supply discipline, optimize product mix, and streamline cost structure. We are a stronger company today thanks to the dedicated efforts of our global team. This is an incredibly exciting time at Seagate, and we are confident we have the right technology and strategy to lead the next era of storage in today's data-driven world, while delivering enhanced value to shareholders." During its investor event, Seagate shared new financial targets that cover the period through FY2028. The company is aiming for a revenue compound annual growth rate in the low-to-mid teens, a non-GAAP gross margin target of 40% with potential for further expansion, and an incremental margin of approximately 50% starting at USD $2.6 billion in quarterly revenue. Operating expenses are projected to remain around 10% of revenue, and capital expenditures are expected to be between 4% and 6% of revenue. The company anticipates returning more than 75% of free cash flow to shareholders. Part of the updated capital allocation strategy includes an increase in the share repurchase authorisation to USD $5 billion. The authorisation does not have a specific expiration date, and decisions regarding share repurchases will be influenced by Seagate's financial position, results of operations, available cash and cash flow, capital requirements, distributable reserves, and other factors deemed relevant by the company. The financial targets and product development roadmap are being introduced as data centre operators and cloud service providers face mounting requirements for cost-effective, high-capacity storage solutions. Seagate expects demand will be mainly driven by increased adoption of AI workloads, cloud migration, and continued digital transformation across several industries. Seagate's Mozaic portfolio, designed to be powered by HAMR technology, intends to address these requirements by elevating data storage density while aiming to improve cost efficiencies and operational sustainability within data centres. The company's management maintains that its technology and operational decisions are structured to provide long-term shareholder value while supporting evolving market needs. The company confirmed that the execution of repurchases within the expanded authorisation will remain flexible and evaluate multiple business and financial considerations. The share repurchase programme represents an ongoing component of Seagate's broader capital allocation strategy, reflecting management's stated confidence in the sustainability of its business model and future prospects. Seagate's updated strategic focus follows previous structural improvements since its last major investor update in 2021. These changes include efforts to enhance demand forecasting, maintain supply chain discipline, optimise product range, and reduce operating costs.
