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STX Seagate Technology

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
IRS number
980648577

STX stock data

(
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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

29 Apr 21
1 Aug 21
3 Jul 22
Quarter (USD)
Apr 21 Jan 21 Oct 20 Jul 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jul 20 Jun 19 Jun 18 Jun 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 1.21B 1.21B 1.21B 1.21B 1.21B 1.21B
Cash burn (monthly) 195.67M 33.33M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 781.95M 133.21M n/a n/a n/a n/a
Cash remaining 432.05M 1.08B n/a n/a n/a n/a
Runway (months of cash) 2.2 32.4 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
20 Jul 21 Schuelke Katherine Ordinary Shares Payment of exercise Dispose F No No 85.49 3,430 293.23K 16,073
10 Jun 21 Michael R Cannon Ordinary Shares Sell Dispose S No No 97.4752 7,102 692.27K 20,175
10 Jun 21 Edward J Zander Ordinary Shares Sell Dispose S Yes No 97.5843 12,043 1.18M 37,615
20 May 21 Jeffrey D. Fochtman Ordinary Shares Payment of exercise Dispose F No No 96.82 348 33.69K 1,440
20 May 21 Jeffrey D. Fochtman Ordinary Shares Option exercise Aquire M No No 0 1,007 0 1,788
20 May 21 Jeffrey D. Fochtman Restricted Share Unit Ordinary Shares Option exercise Dispose M No No 0 1,007 0 3,023
3 May 21 Romano Gianluca Ordinary Shares Sell Dispose S No Yes 93.5343 6,503 608.25K 11,326
3 May 21 Romano Gianluca Ordinary Shares Sell Dispose S No Yes 92.3999 38,647 3.57M 17,829
3 May 21 Romano Gianluca Ordinary Shares Sell Dispose S No Yes 91.3138 34,208 3.12M 56,476
3 May 21 Romano Gianluca Ordinary Shares Option exercise Aquire M No Yes 54.78 16,978 930.05K 90,684

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 648 650 -0.3%
Opened positions 82 152 -46.1%
Closed positions 84 53 +58.5%
Increased positions 179 165 +8.5%
Reduced positions 268 236 +13.6%
13F shares
Current Prev Q Change
Total value 16.83B 13.89B +21.2%
Total shares 219.52M 231.47M -5.2%
Total puts 3.67M 6.44M -43.0%
Total calls 3.59M 3.72M -3.3%
Total put/call ratio 1.0 1.7 -41.0%
Largest owners
Shares Value Change
Vanguard 25.17M $1.93B -6.3%
VA Partners I 23.01M $1.75B -22.0%
ValueAct 23.01M $1.77B -23.7%
BLK Blackrock 15.06M $1.16B -8.1%
FMR 14.8M $1.14B +5.6%
Clearbridge Advisors 11.93M $915.7M -14.0%
JPM JPMorgan Chase & Co. 10.75M $825.38M +114.8%
STT State Street 9.19M $711.4M -6.7%
BAC Bank Of America 8M $613.99M +489.8%
LSV Asset Management 5.83M $447.75M -3.4%
Largest transactions
Shares Bought/sold Change
ValueAct 23.01M -7.14M -23.7%
BAC Bank Of America 8M +6.64M +489.8%
VA Partners I 23.01M -6.51M -22.0%
JPM JPMorgan Chase & Co. 10.75M +5.75M +114.8%
First Trust Advisors 2.85M +2.3M +412.3%
Norges Bank 0 -2.22M EXIT
Clearbridge Advisors 11.93M -1.95M -14.0%
Vanguard 25.17M -1.71M -6.3%
Allianz Asset Management GmbH 1.93M +1.4M +262.6%
BLK Blackrock 15.06M -1.33M -8.1%

Financial report summary

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Management Discussion
  • During the March 2021 quarter, we shipped 140 exabytes of HDD storage capacity. We generated revenue of approximately $2.7 billion and gross margin of 27% and our operating cash flow was $378 million. We repurchased approximately 11 million of our ordinary shares for $751 million and paid $161 million in dividends.
  • The COVID-19 pandemic has resulted in a widespread health crisis and numerous disease control measures are being taken to limit its spread, the effects of which began during the March 2020 quarter. We continued to incur certain supply chain and demand disruptions during the March 2021 quarter, as well as higher logistics and operational costs and softer demand across certain markets due to the COVID-19 pandemic, which we expect to continue during fiscal year 2021. Our customers also continued to experience certain supply chain and demand disruptions during the March 2021 quarter, which we anticipate will continue during fiscal year 2021. We are continuing to actively monitor the effects and potential impacts of the COVID-19 pandemic on all aspects of our business, liquidity and capital resources. We are complying with governmental rules and guidelines across all of our sites and are actively working on opportunities to lower our cost structure and drive further operational efficiencies. Although we are unable to predict the impact of COVID-19 on our business, results of operations, liquidity or capital resources at this time, we expect we will be negatively affected if the pandemic and related public and private health measures result in substantial manufacturing or supply chain problems, substantial reductions 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 other ramifications from the COVID-19 pandemic. For a further discussion of the uncertainties and business risks associated with the COVID-19 pandemic, see the section entitled “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended July 3, 2020.
  • As previously disclosed in the proxy statement filed by the Company with the SEC on March 3, 2021 (the “Proxy Statement”), we have decided to effect a corporate reorganization whereby a new Irish public limited company, Seagate Technology Holdings plc (“Holdings”), will serve as the publicly traded parent company of Seagate. The reorganization will be carried out pursuant to a scheme of arrangement (the “Scheme”) under Irish law, which will result in the exchange of ordinary shares of Holdings for ordinary shares in the Company on a one-for-one basis. The purpose of the transaction is to allow us to maintain our ability to make future distributions to our shareholders, including making dividend payments and effecting share redemptions and repurchases. On April 14, 2021, Seagate held a special Irish High Court-convened meeting of shareholders and an extraordinary general meeting of shareholders, each as described in the Proxy Statement, where the shareholders approved the Scheme and the related proposals. The Irish High Court hearing to approve the Scheme will be held on May 18, 2021 and we expect to complete the transaction in the fiscal quarter ending October 1, 2021.
Content analysis
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Positive
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Constraining
Legalese
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Readability
H.S. sophomore Avg
New words: capping, complexity, decided, entertainment, extraordinary, hearing, moving, parent, platform, proxy, publicly, purpose, reorganization, scale, scheme, tooling
Removed: factory