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Seagate HDD Cayman, a subsidiary of Seagate Technology Holdings, has issued a notice calling for redemption of all outstanding 3.50% Exchangeable Senior Notes due 2028. The redemption date is September 8, 2026, with an exchange deadline of September 3, 2026. Seagate expects to eliminate approximately $150.7 million of debt through this redemption and voluntary noteholder exchanges.
Subscribe to read moreSeagate Technology Holdings plc and its subsidiary Seagate HDD Cayman entered into privately negotiated exchange agreements with holders to exchange $185.908 million principal amount of 3.50% Exchangeable Senior Notes due 2028 for consideration consisting of $185.908 million in cash and a number of Seagate ordinary shares to be determined over a one trading day period beginning May 21, 2026. The exchanges are expected to be consummated on or about May 26, 2026, subject to customary closing conditions. Following...
Subscribe to read moreSTX filed its 10-Q; the most relevant disclosure change is added Legal settlement: The company recorded a $105 million legal settlement charge for the securities class action litigation, with approximately $70 million expected to be covered by insurers.
Subscribe to read moreSTX beat prior Q3 FY2026 Revenue guidance by exceeded high end. The company achieved record gross margins of 47.0% non-GAAP (46.5% GAAP) and generated $953 million in free cash flow while retiring $641 million in debt. For Q4 FY2026, the company guides to revenue of $3.45 billion (+/-$100 million) and non-GAAP diluted EPS of $5.00 (+/-$0.20).
Subscribe to read moreSeagate Technology Holdings plc and its subsidiary Seagate HDD Cayman entered into privately negotiated exchange agreements with holders of $600 million principal amount of the company's 3.50% Exchangeable Senior Notes due 2028. The exchanges will be settled for approximately $599.2 million in cash plus a number of Seagate ordinary shares to be determined over a one trading day period beginning February 12, 2026. The transactions are expected to close on or about February 17, 2026, subject to customary closing c...
Subscribe to read moreSTX filed its 10-Q; the most relevant disclosure change is added 2028 Notes exchange: On November 12, 2025, Seagate completed exchange of $500 million principal of 2028 Notes for $500 million cash and approximately 4.3 million shares, recognizing $61 million non-cash induced conversion expense.
Subscribe to read moreSeagate Technology Holdings plc and its subsidiary Seagate HDD Cayman entered into privately negotiated exchange agreements with holders of $500 million principal amount of the company's 3.50% Exchangeable Senior Notes due 2028. The exchanges will consist of approximately $503.4 million in cash plus a variable number of Seagate ordinary shares to be determined over a one trading day period beginning November 5, 2025. The exchanges are expected to close on or about November 10, 2025, subject to customary closing...
Subscribe to read moreSTX filed its 10-Q; the most relevant disclosure change is changed End-market presentation: Beginning FY2026, company changed presentation from Mass Capacity/Legacy to Data Center (comprising high-capacity nearline products for cloud/enterprise and cloud-based video/image) and Edge IoT (consumer, client, NAS, mission critical, SSD). Data Center was 8.
Subscribe to read moreSTX beat prior Q1 2026 Non-GAAP Diluted EPS guidance by exceeded high end of guided range. Capital expenditures as percent of revenue was maintained by 0.0 pts to 4-6% of revenue. Seagate reported fiscal Q1 2026 revenue of $2.63 billion, up 21% year-over-year, with non-GAAP diluted EPS of $2.61, which the company stated exceeded the high end of its guided range. GAAP gross margin of 39.4% and non-GAAP gross margin of 40.1% both reached record levels. The company generated $532 million in cash flow from operation...
Subscribe to read moreSTX filed its 10-K; the most relevant disclosure change is expanded Customer concentration: In fiscal year 2025, one customer accounted for approximately 10% of consolidated revenue. In fiscal year 2024, no customers accounted for more than 10% of consolidated revenue. Customer concentration: One customer represented 10% of revenue.
Subscribe to read moreSeagate reported Q4 fiscal 2025 revenue of $2.44 billion, with non-GAAP diluted EPS of $2.59 beating the guidance midpoint of $2.30 by $0.29. Full-year fiscal 2025 revenue reached $9.10 billion, up 39% year over year, with non-GAAP diluted EPS of $8.10 versus $1.29 in the prior year. The company issued Q1 fiscal 2026 guidance for revenue of $2.50 billion (plus or minus $150 million) and non-GAAP diluted EPS of $2.30 (plus or minus $0.20).
Subscribe to read moreOn June 11, 2025, Seagate HDD Cayman redeemed all remaining outstanding 4.875% Senior Notes due 2027 at a redemption price of 100.819% of principal plus accrued interest, satisfying and discharging all obligations under the related indenture. Separately, Seagate announced early participation results for exchange offers and consent solicitations covering eight series of senior notes issued by Seagate HDD Cayman, to be exchanged for new notes to be issued by Seagate Data Storage Technology Pte. Ltd., with early pa...
Subscribe to read moreOn May 21, 2025, Seagate Technology Holdings plc's board of directors approved the repurchase of up to $5 billion of the company's common stock under its existing share repurchase program. The company may repurchase shares from time to time through open market purchases, in privately negotiated transactions or by other means, including accelerated share repurchase transactions or other structured repurchase transactions, block trades or pursuant to trading plans intended to comply with Rule 10b5-1 of the U.S. Se...
Subscribe to read moreSeagate Data Storage Technology Pte. Ltd., a subsidiary of Seagate Technology Holdings plc, launched a private offering of $400 million aggregate principal amount of senior notes due 2030 in a transaction to qualified institutional buyers. In connection with the offering, Seagate HDD Cayman issued a notice of conditional full redemption for all outstanding 4.875% Senior Notes due 2027 at 100% of principal plus a make-whole premium plus accrued and unpaid interest, conditioned upon receipt of sufficient net proce...
Subscribe to read moreSTX filed its 10-Q; the most relevant disclosure change is added Subsequent events: On March 31, 2025, the Company completed the acquisition of Intevac, Inc., a supplier of thin-film processing systems, in an all-cash transaction for $4.00 per share, with cash consideration of approximately $118 million. Customer concentration: a disclosed customer represented 79% of revenue; a disclosed customer represented 81% of revenue.
Subscribe to read moreSeagate Technology reported fiscal Q3 2025 revenue of $2.16 billion and non-GAAP diluted EPS of $1.90, compared to $1.655 billion and $0.33 in the year-ago quarter, representing year-over-year revenue growth of approximately 30.5% and non-GAAP EPS growth of 475.8%. The company generated $259 million in cash flow from operations, reduced debt by $536 million to $5.1 billion, and declared a quarterly dividend of $0.72 per share payable July 8, 2025. For Q4 FY2025, Revenue guidance is $2.25 billion-$2.55 billion (m...
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