Seagate Technology (STX)
What is Seagate Technology?
Seagate Technology is a world-famous data storage solutions developer. Known simply as Seagate, the public limited company produces and offers data storage solutions including hard disk drives (HDD), cloud solutions and more, allowing users to create, share and save their most precious data. The company is a global leader in the field.
What’s the history of Seagate?
Formed in 1978 as Shugart technology, the company soon changed its name within the year to Seagate Technology to avoid a legal conflict with Shugart Associations, a subsidiary of Xerox.
In 1980 the company created the first HDD drive for computers, expanding their memory potential exponentially.
The company went public in 1981 and by the following year had reached a total of $40 million in sales. By 1987, the company had hit the $1billion mark in total revenue.
Over the next decade the company made numerous advances in technology, production and sales including the release of the Barracuda HDD, 50 million HDD shipped mark and first prototypes of the future Microsoft Xbox drives.
In 2000 the company went private, and by 2001 the company began to mass produce drives for the recently released Xbox.
After going public again in 2002, it became listed under the ticker STX. In 2006 the company was named by Forbes as ‘Company of the Year’ with the next decade marking advancements in the speed and size of their HDDs and the introduction of the SSHD drive.
In 2014, the company launched their Cloud Systems and Solutions division marking the next step forward in the data storage industry.
What does Seagate do?
Seagate offers its products and services to both individual and business customers worldwide. Separating their operations into External/Consumer, Internal/Specialised and Enterprise/Datacentre, Seagate offer the following products and services:
Backup and Explore including portable hard drives, external hard drives, and external hard drives for Mac
Play featuring solutions for the Xbox, Playstation, and PC Gaming systems
Upgrade focusing on desktop SSHD, desktop HDD, laptop HDD, and mobile and laptop SSHD
Recovery providing a first-class data recovery service
HDD offering specialised internal drives
Rescue focusing on data recovery
Creative Professional seeking solutions for a streamlined workflow
Nytro section is concerned flash data storage for instant access
Exos focuses on capacity and performance
Systems looking to create the highest level of performance for data storage
Security focusing on the defence and protection of data
Where is Seagate Technology based?
Operating worldwide, Seagate technology has corporate legal headquarters in Dublin, Ireland and operational headquarters in Cupertino, California, the USA.
Who are Seagate’s main competitors?
Data storage is a competitive sector, Seagate’s main competition is Western Digital and the Toshiba Corporation.
Where is Seagate traded?
Seagate is traded under the ticker (STX) on the NASDAQ, making up the NASDAQ component. Additionally, it is a S&P 500 component. Get the latest Seagate share price at Capital.com