In late August, I wrote an analysis piece on Seagate Technology (NASDAQ: STX ) in which I labeled the company a buy. This was down from my pieces in 2015 and 2017 , asI’m Jason Ditz and I have 20 years of experience in foreign policy research. My work has appeared in Forbes, Toronto Star, Minneapolis Star-Tribune, Providence Journal, Washington Times and the Detroit Free Press, as well as American Conservative Magazine and the Quincy Institute for Responsible Statecraft. I have been writing investment analy ...

Seagate Technology Holdings plc (STX) stock has slipped 9.9% in the past month compared with the industry and S&P 500 Composite’s decline of 4.2% and 2.7%, respectively.Price PerformanceImage Source: Zacks Investment ResearchThe stock fell 1% in the last trading session and closed at $88.69, trading near its 52-week low of $81.88. The factors that could have put downward pressure on the stock include concerns surrounding delays in the qualifications of its HAMR (Heat-Assisted Magnetic Recording) technology, ...

After helping to fuel the S&P 500 to record gains this year, the chip sector has taken a heavy step back, particularly over the past month as heavyweights Micron ( MU ) and Western Digital ( WDC ) signaledWith combined experience of covering technology companies on Wall Street and working in Silicon Valley, and serving as an outside adviser to several seed-round startups, Gary Alexander has exposure to many of the themes shaping the industry today. He has been a regular contributor on Seeking Alpha since 20 ...

Seagate Technology Holdings plc (STX) stock has been on an upward trajectory amid broader market volatility. Despite solid year-to-date gains, STX’s valuation remains low, prompting investors to ponder if this represents a buying opportunity. Image Source: Zacks Investment ResearchSTX is currently trading at a forward 12 month price-to-sales ratio of 2.04X, a discount compared with the Zacks Computer & Technology sector’s 6.28X and the industry’s 3.12X.Image Source: Zacks Investment ResearchShares of STX ha ...

The digital domain has an insatiable appetite for data that is fueling a boom in the data storage industry. The International Data Corporation (IDC) projects a compound annual growth rate exceeding 10% for the overall data storage market through 2028, a trajectory primarily driven by the exponential growth of artificial intelligence (AI) and cloud computing. Within this rapidly expanding subsector of the technology sector, Seagate Technology NASDAQ: STX and Western Digital NASDAQ: WDC continue to face off a ...

Seagate Technology Holdings plc Conference Call Summary Company Overview - **Company**: Seagate Technology Holdings plc (NASDAQ: STX) - **Event**: Barclays 22nd Annual Global Technology Conference - **Date**: December 11, 2024 Key Points Industry and Technology Updates - Seagate has successfully qualified its Heat-Assisted Magnetic Recording (HAMR) technology for cloud applications, dispelling previous doubts about its suitability for this segment [4][10] - The company anticipates a significant ramp-up in HAMR production starting mid-calendar 2025, with several high-volume customers expected to be qualified [9][10] Financial Performance and Projections - Seagate reported a strong demand in the nearline segment, with sales increasing from 55 exabytes to 110 exabytes year-over-year [6] - The March quarter is projected to experience a $200 million impact due to lower work-in-progress (WIP) at the beginning of the manufacturing line, although this will not affect future quarters [7][19] - Despite the anticipated impact on production volume, Seagate expects gross margins to improve in the March quarter due to a favorable product mix and increased HAMR volume [19][44] Capacity and Production Strategy - The company does not plan to increase manufacturing capacity but aims to optimize existing equipment to produce more exabytes through a better mix of products [16][30] - Seagate is focused on producing higher-capacity drives, with expectations to move from 30 terabytes to 40 terabytes per disk in the future [21][23] Market Dynamics and Pricing Strategy - The demand for cloud storage remains robust, allowing Seagate to maintain a pricing strategy that includes gradual price increases rather than abrupt hikes [25][27] - The company is confident in its ability to negotiate higher prices as it continues to provide increasing value to customers [26][28] AI and Data Storage Trends - AI is expected to drive significant data growth, leading to longer data retention periods and increased demand for storage solutions [31][33] - Seagate sees potential for growth in both cloud and enterprise sectors as businesses increasingly adopt AI technologies [34][35] Segment Performance - The Via image application segment has shown improvement, particularly in China, although it is expected to experience seasonal declines in March [41][42] - The company anticipates sequential growth in this segment over the next few years, driven by smart city projects [42] Shareholder Returns and Capital Management - Seagate is focused on reducing its debt from $5.7 billion to approximately $5 billion before resuming share buybacks [48] - The company has a stable dividend policy, increasing dividends during upcycles and protecting them during downcycles [47] Additional Insights - Seagate's strategy emphasizes leveraging existing technology and optimizing production processes to meet growing demand without significantly increasing capital expenditures [16][30] - The company is well-positioned to capitalize on the growing data storage needs driven by AI and cloud computing, with a clear roadmap for product development and customer qualification [31][34]

Core Insights - Seagate Technology has successfully qualified its Heat-Assisted Magnetic Recording (HAMR) technology for use in cloud applications, addressing previous concerns about its suitability in this space [4]. Group 1: Company Updates - The CFO of Seagate, Gianluca Romano, provided updates on the company's progress with HAMR technology, highlighting its recent qualification for cloud applications after extensive collaboration with a customer [4]. - The company has previously explored various segments for HAMR, including Vidhan image applications and on-prem data centers, but has now confirmed its viability in the cloud sector [4]. Group 2: Conference Context - The updates were shared during the Barclays 22nd Annual Global Technology Conference, where Seagate's participation was noted as significant for investors and analysts [1][3]. - The conference included discussions on the company's manufacturing volume, indicating potential changes in production capacity [5].

Summary of Seagate Technology Holdings plc Conference Call Company Overview - **Company**: Seagate Technology Holdings plc (NASDAQ: STX) - **Event**: Wells Fargo 8th Annual TMT Summit Conference - **Date**: December 4, 2024 - **Participants**: Gianluca Romano (CFO), Aaron Rakers (Wells Fargo Analyst) Key Points Discussed Industry and Product Developments - Seagate announced the qualification of its HAMR (Heat-Assisted Magnetic Recording) product for the cloud segment, which is a significant milestone for the company [3] - The qualification process took longer than anticipated, but the current configuration is described as "very, very strong" for cloud applications [3] - The company plans to qualify additional customers for the HAMR product in the upcoming quarters, aiming for a ramp-up in volume by mid-calendar year 2025 [3] Financial Outlook and Market Dynamics - There was a mention of some trepidation regarding market dynamics for the next quarter, indicating potential challenges ahead [2] - The CFO emphasized the importance of understanding the risks associated with forward-looking statements, suggesting a cautious approach to future projections [2] Additional Considerations - The conference call included a focus on investor inquiries regarding recent announcements, highlighting the company's commitment to transparency and communication with stakeholders [2] - The emphasis on cloud segment developments indicates a strategic focus on expanding Seagate's presence in a growing market, which could present future investment opportunities [3]

Seagate Technology Holdings plc (NASDAQ:STX) UBS Global Technology and AI Conference December 3, 2024 3:35 PM ET Company Participants Dave Mosley - CEO Conference Call Participants Timothy Arcuri - UBS Securities LLC Timothy Arcuri Okay, we're going to start. I'm Tim Arcuri. I'm the Semiconductor Analyst here at UBS. Very happy to have Seagate with us, and we have Dave Mosley with us. Thanks, Dave. Dave is the CEO from Seagate. Dave Mosley Thanks Tim. We've got some just forward looking statements. Check ou ...

Seagate Technology Holdings plc (NASDAQ:STX) UBS Global Technology and AI Conference December 3, 2024 3:35 PM ET Company Participants Dave Mosley - CEO Conference Call Participants Timothy Arcuri - UBS Securities LLC Timothy Arcuri Okay, we're going to start. I'm Tim Arcuri. I'm the Semiconductor Analyst here at UBS. Very happy to have Seagate with us, and we have Dave Mosley with us. Thanks, Dave. Dave is the CEO from Seagate. Dave Mosley Thanks Tim. We've got some just forward looking statements. Check ou ...