Do not stay in Seagate for too long,move on ,more cost cutting coming soon
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Well, the current CEO is only interested in milking as much out of the hard drive business as possible. He has never believe in SSD and probably not interested with the storage systems either. I believe the current strategy is to continue cutting cost in a declining revenue environment so as to maintain the gross margin as expected from the shareholders.
Take-over is out of the question now with 5 billion in debt and rapidly obsolete tech as main revenue source. By the way a huge chunk of that is due or needs to be rolled over at MUCH higher interest expense in 2019. Tic Toc.
Seagate is filled with Gramps taking decisions at a snail's pace. Mark my words, EDS is a goner. Followed by Flash.
deep seated culture is killing off seagate, the management should really take a look at their management panel
"This company is ripe for a takeover with all that cash on hand"
The most recent balance sheet numbers I can find show that Seagate has ~$1.9B in cash and cash equivalents, while is has $4.3B in long-term debt. I'm not sure that qualifies it as a "takeover target."
Amen
And yet, there's still most people in STX who will worship Seagate management to the bitter end of the unemployment line. Some even troll here and insult anybody who is critical. They believe with faith alone with no measurable results in the HAMR and the SSD strategy. They believe STX management is so much smarter than WDC. They believe the demand and stock price will continue to go up 10 years into a business cycle that they think will never turn down for the first time in history. They think they will continue to get bonuses for years to come as HDD market share is eroded by ever cheaper SSD. They think China is the economic model after running up a debt level of 300% of GDP and continue to drive Seagate revenue ever higher even as it starts to implode.
Management considering dismantling dothill next quarter.
Who would want to take over this POS company? SSD companies will let us die. OEMs and data storage companies will use SSD or a combination of HDD until we die. Why buy the milk when the cow is free and the milk is sour?
Fear what worst? i have seen things worst than today. You bloody new guy?
This company is ripe for a takeover with all that cash on hand. I guess the solution is to put the cash into buybacks rather than equipment upgrades and decent raises.
Paying down debt would send the wrong signal to "investors." All they understand are dividends and buybacks.
Yeah and instead of paying down debt and getting the company prepared financially to be resilient, they are doing another couple billion of share buybacks. Insanity. How many shares did STX buy back over $50/share? Throwing all the hard earned money away instead of investing/saving. They don't care as long as option prices are boosted. Look at GE now. They did the same thing. That's your future. The executives will get rich anyway at the expense of your job. See ya.