Seagate Tech Announces $400M Senior Notes Offering

Seagate Tech ( (STX) ) has shared an update.

On May 12, 2025, Seagate Technology Holdings plc announced that its subsidiary, Seagate Data Storage Technology Pte. Ltd., entered into a purchase agreement to issue and sell $400 million of 5.875% Senior Notes due 2030. The offering, expected to close on May 27, 2025, aims to finance the redemption of Seagate HDD Cayman’s outstanding 4.875% Senior Notes due 2027. This move is part of Seagate’s strategy to manage its debt obligations effectively, potentially impacting its financial stability and market positioning.

The most recent analyst rating on (STX) stock is a Buy with a $110.00 price target. To see the full list of analyst forecasts on Seagate Tech stock, see the STX Stock Forecast page.

Spark’s Take on STX Stock

According to Spark, TipRanks’ AI Analyst, STX is a Neutral.

Seagate Tech’s overall score reflects a robust financial outlook with strong cash flow and improving profitability, tempered by balance sheet challenges. The positive earnings call and strategic corporate events bolster future growth prospects, but technical indicators suggest caution due to potential market volatility.

To see Spark’s full report on STX stock, click here.

More about Seagate Tech

Seagate Technology is a leading innovator in mass-capacity data storage, offering a comprehensive portfolio of storage devices, systems, and services from edge to cloud. With over 45 years of experience, Seagate has shipped more than four billion terabytes of data capacity.

Average Trading Volume: 4,048,782

Technical Sentiment Signal: Strong Buy

Current Market Cap: $21.64B

See more insights into STX stock on TipRanks’ Stock Analysis page.