Seagate Technology Holdings plc

Seagate Technology Holdings plc filed its annual 10-K report, detailing its business as a leading provider of mass-capacity data storage solutions for Data Center and Edge/IoT markets. The company highlighted its focus on advanced storage technologies like the Mozaic platform with HAMR technology to address growing data demands, with the global datasphere expected to reach 718 zettabytes by 2030. The report also outlined its competitive differentiation, vertical integration, manufacturing strategy, and key executive officers.

Seagate Technology Holdings plc reported strong financial results for its fiscal fourth quarter and full fiscal year ended July 3, 2026. The company exceeded expectations with Q4 revenue of $3.6 billion and non-GAAP diluted EPS of $5.71. For the full fiscal year, Seagate achieved $12.2 billion in revenue, a 34% increase, and record profitability with $15.58 non-GAAP diluted EPS. The Board of Directors also declared a quarterly cash dividend of $0.74 per share, payable on October 7, 2026.

Seagate HDD Cayman, a subsidiary of Seagate Technology Holdings plc, announced the redemption of all outstanding 3.50% Exchangeable Senior Notes due 2028. The redemption date is September 8, 2026, with notes to be redeemed for cash at principal plus accrued and unpaid interest. Holders have the option to exchange their notes for Seagate ordinary shares at a current rate of 12.1363 shares per $1,000 principal amount until September 3, 2026. This action is expected to eliminate approximately $150.7 million of debt.

Seagate Technology Holdings plc announced the closing of privately negotiated exchanges for $185.908 million principal amount of its subsidiary's 3.50% Exchangeable Senior Notes due 2028. The transaction involved exchanging these notes for an equal principal amount in cash and 2,023,124 ordinary shares of Seagate. This action reduces the outstanding principal amount of these notes, with approximately $185.8 million remaining.

Seagate Technology Holdings and its subsidiary Seagate HDD entered into separate, privately negotiated agreements to exchange $185.908 million principal amount of 3.50% Exchangeable Senior Notes due 2028. The consideration for these exchanges includes an aggregate of $185.908 million in cash and a number of Seagate's ordinary shares. The transactions are expected to be consummated on or about May 26, 2026, and will result in the retirement of the exchanged notes, leaving approximately $185.8 million in notes outstanding.

Seagate Technology Holdings plc announced that Michael R. Cannon, Lead Independent Director, will retire from the Board of Directors at the conclusion of his current term in October 2026. Mr. Cannon, who has served on the Board for 15 years, including five years as Lead Independent Director and five years as Board Chair, will not stand for re-election at the 2026 Annual General Meeting of Shareholders. His decision was not due to any disagreement with the company's operations, policies, or practices.

Seagate Technology Holdings plc reported strong financial results for the three months ended April 3, 2026, with revenue increasing by 44% to $3.11 billion and net income surging by 120% to $748 million. Diluted EPS rose to $3.27. The company also reclassified $399 million of its 2028 Exchangeable Senior Notes to current portion of long-term debt due to a conditional conversion option trigger and recognized $120 million in induced conversion expense from debt exchanges.

Seagate Technology Holdings plc reported strong fiscal third quarter 2026 financial results, exceeding revenue and EPS guidance. The company achieved $3.11 billion in revenue and non-GAAP diluted EPS of $4.10, alongside record margin performance and significant free cash flow generation. Seagate also declared a quarterly cash dividend of $0.74 per share, payable on July 7, 2026.