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Seagate Technology (STX)

Seagate Technology crafts the datasphere, helping to maximize humanity's potential by innovating world-class, precision-engineered data storage and management solutions with a focus on sustainable partnerships.

Company profile

Ticker
STX
Exchange
Website
CEO
Stephen Luczo
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
SEAGATE TECHNOLOGY, Seagate Technology, SEAGATE TECHNOLOGY HOLDINGS, Seagate Technology plc
SEC CIK
Subsidiaries
Seagate Technology Holdings Public Limited Company • Seagate Technology Unlimited Company • Seagate Technology • Seagate Systems Ireland Limited • Seagate Data Storage Technology • Seagate Technology (US) Holdings, Inc. • EVault, Inc. • Seagate Cloud Systems, Inc. • Seagate Cloud Systems Japan Ltd. • Dot Hill Singapore Pte. Ltd. ...
IRS number
980648577

STX stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

5 Aug 22
12 Aug 22
1 Jul 23
Quarter (USD) Jul 22 Apr 22 Dec 21 Oct 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jul 22 Jul 21 Jul 20 Jun 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 617M 617M 617M 617M 617M 617M
Cash burn (monthly) 174.33M 49.5M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 246.99M 70.13M n/a n/a n/a n/a
Cash remaining 370.01M 546.87M n/a n/a n/a n/a
Runway (months of cash) 2.1 11.0 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
24 Jul 22 Ravi Naik Ordinary Shares Grant Acquire A No No 0 2,813 0 29,133
24 Jul 22 Mosley William D Ordinary Shares Grant Acquire A No No 0 15,665 0 563,381
24 Jul 22 Mosley William D Ordinary Shares Grant Acquire A No No 0 13,007 0 547,716
24 Jul 22 Mosley William D Ordinary Shares Grant Acquire A No No 0 12,676 0 534,709
24 Jul 22 Teh Ban Seng Ordinary Shares Grant Acquire A No No 0 1,758 0 10,748
24 Jul 22 Romano Gianluca Ordinary Shares Grant Acquire A No No 0 3,629 0 33,171
24 Jul 22 Romano Gianluca Ordinary Shares Grant Acquire A No No 0 3,614 0 29,542
24 Jul 22 Romano Gianluca Ordinary Shares Grant Acquire A No No 0 6,537 0 25,928
24 Jul 22 Nygaard Jeffrey D. Ordinary Shares Grant Acquire A No No 0 3,629 0 13,399
24 Jul 22 Nygaard Jeffrey D. Ordinary Shares Grant Acquire A No No 0 3,614 0 9,770
85.2% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 653 760 -14.1%
Opened positions 71 163 -56.4%
Closed positions 178 56 +217.9%
Increased positions 193 208 -7.2%
Reduced positions 266 263 +1.1%
13F shares Current Prev Q Change
Total value 16.32B 19.81B -17.6%
Total shares 177.9M 175.3M +1.5%
Total puts 3.13M 6.39M -51.0%
Total calls 3.12M 5.07M -38.5%
Total put/call ratio 1.0 1.3 -20.4%
Largest owners Shares Value Change
Vanguard 24.59M $2.21B +0.2%
BLK Blackrock 13.73M $1.23B -6.0%
VA Partners I 13.44M $1.49B NEW
ValueAct 13.44M $1.21B -13.2%
JPM JPMorgan Chase & Co. 12.96M $1.16B +7.8%
STT State Street 8.07M $731.32M -13.8%
BAC Bank Of America 8.04M $723.16M +1.2%
FMR 7.71M $693.06M -0.4%
Clearbridge Advisors 6.77M $608.2M -19.1%
Sanders Capital 5.24M $517.58M +31.1%
Largest transactions Shares Bought/sold Change
VA Partners I 13.44M +13.44M NEW
ValueAct 13.44M -2.05M -13.2%
Norges Bank 0 -1.96M EXIT
BCS Barclays 1.75M +1.75M NEW
Clearbridge Advisors 6.77M -1.6M -19.1%
STT State Street 8.07M -1.29M -13.8%
Polar Capital 1.09M -1.26M -53.6%
Sanders Capital 5.24M +1.24M +31.1%
BK Bank Of New York Mellon 3.9M +1.13M +41.1%
Two Sigma Advisers 599.9K -971.5K -61.8%

Financial report summary

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Risks
  • We must plan our investments in our products and incur costs before we have customer orders or know about the market conditions at the time the products are produced. If we fail to predict demand accurately for our products or if the markets for our products change, we may be unable to meet demand or we may have insufficient demand, which may materially adversely affect our financial condition and results of operations.
  • We experience seasonal declines in the sales of our consumer products during the second half of our fiscal year which may adversely affect our results of operations.
  • We may not be successful in our efforts to grow our systems, SSD and Lyve revenues.
  • Shortages or delays in the receipt of, or cost increases in, critical components, equipment or raw materials necessary to manufacture our products, may cause us to suffer lower operating margins, production delays and other material adverse effects.
  • We are subject to risks related to corporate and social responsibility and reputation.
  • We are subject to counterparty default risks.
  • Changes in the macroeconomic environment may in the future negatively impact our results of operations.
  • Changes in U.S. trade policy, including the imposition of sanctions or tariffs and the resulting consequences, may have a material adverse impact on our business and results of operations.
  • Our business and certain products and services depend in part on IP and technology licensed from third parties, as well as data centers and infrastructure operated by third parties.
Management Discussion
  • During fiscal year 2022, we shipped 631 exabytes of HDD storage capacity. We generated revenue of approximately $11.7 billion with a gross margin of 30%, net income of $1.6 billion, diluted EPS of $7.36 and our operating cash flow was $1.7 billion. We increased our unsecured revolving credit facility (“Revolving Credit Facility”) to $1.75 billion, borrowed $1.2 billion under our new term loan facility and repaid $701 million of our long-term debt. We repurchased approximately 20 million of our ordinary shares for $1.8 billion and paid $610 million in dividends.
  • The pandemic continues to impact our business and results of operations. During fiscal year 2022, we experienced the ongoing impacts of supply chain disruptions, higher logistics, materials and operational costs globally, as well as other inflationary and macroeconomic pressures. Additionally, constraints from certain component shortages impacted our ability to fulfill demand primarily for our non-HDD business. Our customers also continued to experience certain supply chain and demand disruptions, resulting in demand variations across certain of our end markets, including impacts from periodic governmental lockdown measures. We expect these factors will continue to impact our business and results of operations over the near term.
  • We continue to actively monitor the effects and potential impacts of the pandemic, inflation and other macroeconomic factors on all aspects of our business, supply chain, liquidity and capital resources including governmental policies that could periodically shut down an entire city where we, our suppliers or our customers operate. We are also actively working on opportunities to lower our cost structure, drive further operational efficiencies and maintain supply chain discipline including adjusting our manufacturing production plans in response to these business conditions. We are complying with governmental rules and guidelines across all of our sites. Although we are unable to predict the future impact of the pandemic on our business, results of operations, liquidity or capital resources at this time, we expect we will continue to be negatively affected if the pandemic and related public and private health measures result in substantial manufacturing or supply chain challenges, substantial reductions or delays in demand due to disruptions in the operations of our customers or partners, disruptions in local and global economies, volatility in the global financial markets, sustained reductions or volatility in overall demand trends, restrictions on the export or shipment of our products or our customer’s products, or other unexpected ramifications from the pandemic. For a further discussion of the uncertainties and business risks associated with the COVID-19 pandemic, see the section entitled “Risk Factors” in Part I, Item 1A of our Annual Report.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
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H.S. freshman Avg
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