Seagate Technology plc Buyback
OLI recorded this information on 4/23/2015
Seagate Technology plc
Seagate Technology plc (NASDAQ:STX) (the "Company" or "Seagate") today announced that its Board of Directors has authorized the Company to repurchase up to $2.5 billion of its outstanding ordinary shares (the "April 2015 Authorization"). As a result of the April 2015 Authorization, Seagate currently has an aggregate authority to repurchase approximately $3.1 billion of its ordinary shares. Share repurchases under the April 2015 Authorization may be made through a variety of methods, which may include open market purchases, privately negotiated transactions, block trades, accelerated share repurchase transactions, or by any combination of such methods. The timing and actual number of shares repurchased will depend on a variety of factors including the ordinary share price, corporate and regulatory requirements and other market and economic conditions. The share repurchase authorization may be suspended or discontinued at any time.
Seagate Technology Holdings is a provider of data storage technology and solutions. Co.'s principal products are hard disk drives (HDDs). In addition to HDDs, Co. produces a range of data storage products including solid state drives (SSDs), solid state hybrid drives, storage subsystems, as well as a scalable edge-to-cloud mass data platform. Co.'s HDD and SSD product portfolio includes Serial Advanced Technology Attachment, Serial Attached SCSI and Non-Volatile Memory Express based designs to support a variety of mass capacity and legacy applications. Co. has launched its Lyve portfolio, which provides a way to manage massive volumes of data across the distributed enterprise.
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Buy (3.08 out of 4)