Tag: Seagate

Seagate to Pay $300 Million Penalty for Shipping Huawei 7 Million Hard Drives

April 26, 2023
Business & MarketsChinaCompaniesHuaweipenaltySeagatetechnologyUSUS NewsUS-China relations
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Seagate Technology Holdings PLC has agreed to pay a $300 million penalty in a settlement with U.S. authorities for shipping over $1.1 billion worth of hard disk drives to China’s Huawei in violation of U.S. export control laws, the Department of Commerce said. Seagate sold the drives to Huawei between August 2020 and September 2021…

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Seagate Technology May Have Broken Export Rules Selling Hard Drives to Blacklisted Company: US Officials

October 27, 2022
blacklistedBusiness & MarketsChinaCompaniesHuaweiSeagateUSUS-China relations
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U.S. officials have accused Seagate Technology Holdings of potentially violating export control laws by selling hard disk drives to a customer on a U.S. trade blacklist. Seagate, which manufactures computer hard drives, announced in a filing with the U.S. Securities and Exchange Commission on Oct. 26 that it had received a “proposed charging letter” from the U.S. Commerce Department’s Bureau of Industry…

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Analysts Lift Seagate Price Target Post Q2 Earnings

January 27, 2022
Business & EconomyCompaniesInvestmentMarketsSeagatestockstocks
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Analysts raised their price targets on Seagate Technology Holdings PLC following its Q2 beat and Q3 outlook. Citi analyst Jim Suva raised the price target on Seagate to $105 from $100 and reiterated a Neutral rating on the shares. Seagate continues to create and store value for its shareholders with a 1 percent beat on sales and a 2 percent…

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