Latest news with #SeagateTechnology
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.
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.
Business Wire
22-05-2025
- Business
- Business Wire
Seagate Highlights Strategy to Build Long-Term Value in Today's Data-driven World at 2025 Investor and Analyst Event
FREMONT, Calif.--(BUSINESS WIRE)--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 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,' concluded Mosley. New Financial Targets During the event, the Company outlined new financial targets for the period through FY2028, which are supported by the adoption of HAMR technology. 1 Target performance covers period through FY2028. Revenue CAGR corrected to reflect period covering FY2025-FY2028. Increased Share Repurchase Authorization Additionally, Seagate also 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 About Seagate Technology Seagate Technology is a leading innovator of mass-capacity data storage. We create breakthrough technology so you can confidently store your data and easily unlock its value. Founded over 45 years ago, Seagate has shipped over four billion terabytes of data capacity and offers a full portfolio of storage devices, systems, and services from edge to cloud. To learn more about how Seagate leads storage innovation, visit and our blog, or follow us on X, Facebook, LinkedIn, and YouTube. ©2025 Seagate Technology LLC. All rights reserved. Seagate, Seagate Technology, Mozaic 3+, Exos, and the Spiral logo are trademarks or registered trademarks of Seagate Technology LLC in the United States and/or other countries. All other trademarks or registered trademarks are the property of their respective owners. When referring to drive capacity, one gigabyte, or GB, equals one billion bytes, one terabyte, or TB, equals one trillion bytes, and one exabyte, or EB, equals one quintillion bytes. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical fact. Forward-looking statements include, among other things, statements about the Company's plans, programs, strategies, prospects, and opportunities; financial outlook for future periods, including through fiscal year 2028; expectations regarding market demand for the Company's products, our visibility into such demand and our ability to optimize our level of production and meet market and industry expectations and the effects of these future trends on Company's financial and operational performance, including our ability to deliver profitable growth; anticipated shifts in technology and storage industry trends, and anticipated demand and performance of new storage product introductions, including HAMR-based Mozaic products; the Company's capital allocation strategy, including potential repurchases of its common stock; and expectations regarding the Company's business strategy and performance. Forward-looking statements generally can be identified by words such as 'expects,' 'intends,' 'plans,' 'anticipates,' 'believes,' 'estimates,' 'predicts,' 'projects,' 'should,' 'may,' 'will,' 'will continue,' 'can,' 'could' or the negative of these words, variations of these words and comparable terminology, in each case, intended to refer to future events or circumstances. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. Forward-looking statements are subject to various uncertainties and risks that could cause our actual results to differ materially from historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described under the captions 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' in the Company's latest periodic report on Form 10-Q or Form 10-K filed with the U.S. Securities and Exchange Commission. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on, and which speak only as of, the date hereof. The Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, unless required by applicable law. The inclusion of Seagate's website addresses in this press release are provided for convenience only. The information contained in, or that can be accessed through, Seagate's websites and social media channels are not part of this press release.
Business Wire
12-05-2025
- Business
- Business Wire
Seagate Announces Pricing of $400 Million of Senior Unsecured Notes
FREMONT, Calif.--(BUSINESS WIRE)--Seagate Data Storage Technology Pte. Ltd. (the 'Company'), a subsidiary of Seagate Technology Holdings plc (NASDAQ: STX) ('Seagate'), today announced the pricing of the private offering of $400.0 million aggregate principal amount of senior notes due 2030 (the 'Notes'). The Notes will be guaranteed by Seagate, Seagate Technology Unlimited Company and Seagate HDD Cayman. The Notes were priced at 100% of the aggregate principal amount and will bear interest at 5.875% per annum. The closing of the offering of the Notes is expected to occur on or about May 27, 2025, subject to customary closing conditions. The Company intends to use the net proceeds from the offering of the Notes, together with cash on hand, to finance the redemption (the 'Redemption') of all of its outstanding 4.875% Senior Notes due 2027 (the '2027 Notes') and to pay related fees and expenses. The Notes will be offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act') and to certain non-U.S. persons outside the United States in accordance with Regulation S under the Securities Act. The Notes and the related guarantees will not be registered under the Securities Act or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and other applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Additionally, nothing in this press release shall constitute a notice of redemption or any offer to purchase or solicitation of an offer to sell any of the outstanding 2027 Notes. The Redemption will be made solely pursuant to a separate redemption notice issued under the indenture governing such 2027 Notes. About Seagate Seagate Technology is a leading innovator of mass-capacity data storage. We create breakthrough technology so you can confidently store your data and easily unlock its value. Founded over 45 years ago, Seagate has shipped over four billion terabytes of data capacity and offers a full portfolio of storage devices, systems, and services from edge to cloud. © 2025 Seagate Technology LLC. All rights reserved. Seagate, Seagate Technology, and the Spiral logo are registered trademarks of Seagate Technology LLC in the United States and/or other countries. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical fact. Forward-looking statements include, among other things, statements about the terms and conditions of, and completion of, the offering of the Notes and the use of proceeds therefrom, each as described above. The Company cannot assure that the offering will be consummated, nor can it guarantee the size or terms of the offering. Forward-looking statements generally can be identified by words such as 'expects,' 'intends,' 'plans,' 'anticipates,' 'believes,' 'estimates,' 'predicts,' 'projects,' 'should,' 'may,' 'will,' 'will continue,' 'can,' 'could,' or the negative of these words, variations of these words and comparable terminology, in each case, intended to refer to future events or circumstances. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on information available to the Company as of the date of this press release and are subject to known and unknown risks and uncertainties that could cause the Company's actual results, performance or events to differ materially from historical experience and the Company's present expectations or projections. These risks and uncertainties include, but are not limited to, those described under the captions 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' in the Company's latest periodic report on Form 10-Q or Form 10-K filed with the U.S. Securities and Exchange Commission. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on, and which speak only as of, the date hereof. The Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, unless required by applicable law.
Yahoo
10-05-2025
- Business
- Yahoo
Seagate Technology Holdings plc (STX): Among Steven Cohen's Mid-Cap Stock Picks with Huge Upside Potential
We recently published an article titled . In this article, we are going to take a look at where Seagate Technology Holdings plc (NASDAQ:STX) stands against Steve Cohen's other mid-cap stock picks with huge upside potential. Steven Cohen has established himself as a leading figure in the hedge fund industry. His career began with the founding of S.A.C. Capital Advisors in 1992. In 2014, he transitioned his investments to Point72 Asset Management, where he serves as Chairman and CEO. Point72 leverages Cohen's expertise in active trading while integrating cutting-edge advancements in technology, data analytics, and artificial intelligence, positioning itself at the forefront of modern finance. The firm employs a discretionary investment approach across multiple strategies, including long/short equities, global macroeconomic investing, systematic trading, and venture capital & growth equity. As of January 1, 2025, Point72 manages approximately $36.9 billion in assets and has a workforce of 2,800 employees worldwide. The firm has a good performance history, with the fund's top 50 stocks boasting a three-year annualized return of 14.47%. The U.S. economy plays a pivotal role in shaping the stock market and hedge fund performance, with macroeconomic trends influencing investor sentiment, capital flows, and risk management strategies. The current economic uncertainty facing the US economy continues to worry investors. Last week, according to the National Bureau of Economic Research, the US economy's GDP for the first quarter of 2025 contracted by 0.3%, a sharp contrast to the previous quarter's 2.4% growth. While a recession is officially confirmed only after consecutive quarters of negative GDP growth, many market analysts caution that the economy is on the brink of one. Economic data released over the past few days provided some clarity to investors. Investor sentiment was boosted by Friday's employment data, which showed the U.S. unemployment rate holding steady at 4.2%, suggesting that the labour market remains resilient despite growing macroeconomic headwinds. This week, the Federal Open Market Committee voted unanimously to maintain the Fed rate between 4.25% to 4.5%. Federal Reserve Chair Jerome Powell reassured investors that the central bank is prepared to wait for greater clarity before adjusting interest rates, citing persistent uncertainty stemming from President Trump's escalating tariff agenda. Given the heightened volatility, investors focus on a balanced portfolio to mitigate risks. In the long run, hedge funds thrive on inefficiencies, volatility, and sector rotations, adjusting their portfolios to exploit divergences between economic fundamentals and market behaviour. As the U.S. economy evolves, hedge funds continuously recalibrate their strategies to align with changing market conditions and investor expectations. This strategy is applied by Point72 Asset Management through its discretionary investment approach to give higher returns to its shareholders. One approach to achieving a balanced portfolio is through mid-cap stocks, which offer a compelling blend of growth potential and relative stability. Unlike large corporations, mid-cap companies are often more agile in adapting to shifting economic conditions, enabling them to foster innovation and expansion at a faster pace. Mid-Cap stocks are past the uncertainty associated with early-stage start-ups, thus offering ample room for growth and higher returns compared to large-cap companies, which tend to have slower growth trajectories. Mid-cap companies also have the potential to evolve into large-cap firms over time, allowing investors to benefit from significant capital appreciation. According to S&P Global, the mid-cap S&P index has consistently outperformed the large-cap broader index since 1994, delivering an annualized return of 12% compared to the latter's 11%. For this article, we examined Point 72's Q4 2024 13F filings to identify billionaire Steve Cohen's 10 Mid-Cap stock picks with huge upside potential. Our focus was on stock with a market cap ranging between $10 billion and up to $40 billion. We then picked stocks that had the best upside potential, based on analyst rankings. At Insider Monkey, we are obsessed with hedge funds. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). A technician configuring a network-attached storage drive. Upside Potential: 15.70% Market Cap: $19.75 billion Seagate Technology Holdings plc (NASDAQ:STX) has been in operation since 1978, and is engaged in the provision of data storage technology and infrastructure solutions to customers in Singapore, the United States, the Netherlands, and internationally. Seagate Technology Holdings plc (NASDAQ:STX) provides a diverse portfolio of hardware & including HDDs, SSD, enterprise nearline systems, video and image HDDs, and network-attached storage drives. The company is home to brands such as Seagate Ultra Touch, One Touch, Expansion, and Basics product lines, as well as under the LaCie brand name, among others. Recent trade tariffs and global uncertainties have introduced volatility in tech markets. Some analysts raised questions on the future demand for STX's hard disk drives, one of Seagate's core products. However, the company's strong financial performance has alleviated these concerns. In the third quarter of 2025, Seagate surpassed analysts' revenue expectations by $30.94 million, reporting $2.16 billion, a remarkable year-over-year growth of 30.51%. Point72 Asset Management held more than 1.82 million shares in the company with a value of $157,653,026. Seagate Technology Holdings plc (NASDAQ:STX) represents 0.34% of the fund's portfolio as the fund boosted its position in the company by 51% during the quarter. Looking forward, management provided guidance for revenue in the upcoming quarter to be $2.4 billion, an increase of 11%. Erik Woodring, an analyst at banking giant Morgan Stanley, commented on the company's results, stating: "Stepping back, we expected a good quarter, and we got a great quarter." Overall STX ranks 8th on our list of Steve Cohen's mid-cap stocks with huge upside potential. While we acknowledge the potential of STX as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than STX but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
