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 ...

Core Viewpoint - Seagate's recent earnings report shows significant improvements in both revenue and earnings, driven by strong demand for mass-capacity products, particularly in the cloud sector, despite a recent decline in share price [1][2][3]. Financial Performance - Seagate reported Q1 fiscal 2025 non-GAAP earnings of $1.58 per share, exceeding estimates by 6.8% and showing a substantial improvement from a non-GAAP loss of 22 cents per share in the same quarter last year [2]. - Non-GAAP revenues reached $2.168 billion, surpassing estimates by 2.4%, and reflecting a 49% year-over-year increase and a 15% sequential increase [3]. - Total HDD revenues accounted for 92.4% of total revenues, rising 55% year-over-year to $2.004 billion, with a sequential increase of 16% [10]. Product and Market Dynamics - Mass capacity revenues surged 70% year-over-year to $1.733 billion, driven by strong nearline cloud demand and increasing enterprise sales [4]. - Nearline cloud demand was primarily fueled by cloud service providers in the U.S., with positive trends observed globally [5]. - Seagate shipped 137.5 exabytes of HDD storage, marking a 54% year-over-year increase and a 20% sequential increase [6]. Margin and Cost Structure - Non-GAAP gross margin improved to 33.3% from 19.8% in the prior year, attributed to price adjustments and a favorable product mix [11]. - Non-GAAP operating income rose to $442 million from $40 million a year ago, with operating margin increasing to 20.4% from 2.8% [12]. Cash Flow and Balance Sheet - As of September 27, 2024, cash and cash equivalents were $1.239 billion, down from $1.358 billion as of June 28 [13]. - Cash flow from operations was $95 million, significantly lower than $434 million in the previous quarter, reflecting efforts to normalize working capital [14]. Future Outlook - Management anticipates Q2 fiscal 2025 revenues to be around $2.3 billion, with continued improvements expected in mass capacity due to strengthening demand from global cloud customers [16]. - Non-GAAP earnings are projected to be $1.85 per share, with operating expenses expected to rise slightly to $285 million [18]. - The company expects margin performance to benefit from a higher mix of mass capacity revenues and ongoing pricing actions [17].

Seagate Technology Holdings plc (STX) shares have been performing well on the trading front, with the stock gaining 33.7% in the past year compared with the sub-industry’s growth of 32.7%.The uptrend is driven by Seagate’s impressive top-line performance in the past few quarters. The company is witnessing an increasing demand for its mass capacity solutions. STX’s earnings beat estimates in all of the last four quarters, delivering an average surprise of 85.1%.One-Year Price PerformanceImage Source: Zacks I ...

Core Insights - Öhlins Racing has launched its first front fork specifically designed for Harley-Davidson motorcycles, named the American V-Twin 48 Blackline front fork, alongside the new STX Pro Blackline shock absorber, both aimed at enhancing ride comfort and experience for Harley-Davidson enthusiasts [1][7]. Product Details - The American V-Twin 48 Blackline fork features a weight- and stress-optimized design, incorporating Öhlins' 30-mm NIX damping system for improved precision and stability, and is treated with a titanium nitrate coating to reduce friction [3][4]. - The STX Pro Blackline shock offers enhancements over its predecessor, featuring a sleek all-black design with gold details, and is available in 12" and 13" dimensions, designed for late-model Harley-Davidsons [5][6][7]. Market Introduction - These new products will be showcased at the EICMA Motorcycle Show from November 5-10, 2024, providing an opportunity for riders and industry insiders to experience the latest advancements in suspension technology for the American V-Twin segment [2][8]. - The estimated launch date for the American V-Twin 48 Blackline fork is mid-December 2024, while the STX Pro Blackline shock is already available through authorized dealers [7]. Company Background - Öhlins Racing has over 45 years of experience in the motorsport and automotive industries, focusing on high-quality suspension products and services [9].

Seagate Technology Today STX Seagate Technology $101.32 -1.69 (-1.64%) 52-Week Range $66.93 ▼ $115.32 Dividend Yield 2.84% P/E Ratio 26.45 Price Target $118.83 Add to Watchlist Seagate Technology Holdings PLC NASDAQ: STX is the world's largest manufacturer of hard disk drives (HDDs), competing with Western Digital Co. NASDAQ: WDC, one of the largest makers of flash solid state drives (SSDs). After eight consecutive quarters of declining revenue facing normalization from the industry inventory glut, Seagate ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________ FORM 10-Q ____________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 27, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: to Commission File Number 001-31560 _______________________________________ SEAGATE TECHNOLOGY HOLDINGS PUBLI ...

Investors might want to bet on Seagate (STX) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Since a changing earni ...