-0.80% to $747.20 from $753.25
What moved STX
- Shares fell about 6%, matching the decline in sector peer Western Digital, as the memory and storage-chip selloff deepened.
- The slide followed reporting that China’s ChangXin Memory Technologies touted advances narrowing its technology gap with established memory producers.
- Asian chipmakers SK Hynix and Samsung Electronics also sold off sharply overnight, both hitting their lowest levels since August, setting the tone for the U.S. session.
Sources: CNBC
-10.21% to $848.99 from $945.57
What moved STX
- Seagate shares fell more than 10% after reports that Toshiba plans to roughly double its hard-disk-drive production capacity for AI data centers by fiscal 2027.
- Toshiba is investing about 60 billion yen ($380 million) to expand manufacturing in the Philippines as it targets a 30% share of the HDD market, up from just over 10% today.
- Citi analyst Asiya Merchant said the market may be overstating the threat, noting Toshiba depends on outside suppliers for components such as media and heads that would also need to scale up output.
Sources: 24/7 Wall St · Investing.com
-3.73% to $830.17 from $862.33
What moved STX
- A Form 8-K filing confirmed Seagate issued about 1.65 million ordinary shares and paid roughly $151 million in cash to fully settle its 3.50% exchangeable senior notes due 2028, adding to share supply and diluting existing holders.
- Analysts characterized the decline as profit-taking after Seagate’s large 2026 run-up rather than new company-specific news, noting broad storage- and memory-sector benchmarks gained the same day.
- Fellow storage stock SanDisk also fell while Micron held roughly flat, pointing to sector-wide rotation rather than a Seagate-specific issue.
Sources: ad-hoc-news.de · 24/7 Wall St.
-6.51% to $794.65 from $850.00
What moved STX
- Seagate shares fell amid broad profit-taking in memory and storage names following a months-long rally.
- CEO William Mosley and CFO Gianluca Romano sold a combined roughly $23 million of stock on Aug. 21 under pre-arranged 10b5-1 trading plans.
- Other executives, including the company’s chief legal officer, also sold shares in transactions disclosed the same week.
- The sales reflect scheduled diversification by executives sitting on stock that has multiplied several times over, rather than a signal about the business, according to the report.
Sources: TheStreet · TradingView News · Tikr