New York, Feb 14, 2026, 15:24 EST — Market closed.
- Seagate ended Friday down 1.2% at $425.99; U.S. markets are shut Monday for Presidents Day.
- Seagate plans a cash-and-stock exchange of $600 million of exchangeable notes, expected to settle around Feb. 17.
- Investors are watching late-February and early-March conference appearances for fresh commentary.
Seagate Technology Holdings plc shares finished Friday down 1.2% at $425.99, with the Nasdaq closed for the long weekend and the next session due Tuesday. (Nasdaq)
The pause comes after Seagate disclosed privately negotiated exchanges of $600 million principal amount of its 3.50% exchangeable senior notes due 2028 for about $599.2 million in cash plus new ordinary shares, with the share count set over a one-day pricing period that began on Feb. 12. The company said the exchanges are expected to close on or about Feb. 17. (SEC)
Investors also have a near-term calendar. Seagate said management is set to appear at Bernstein’s Annual TMT Forum on Feb. 25 and the Morgan Stanley Technology, Media & Telecom Conference on March 3, and to hold investor meetings at Loop Capital Markets’ investor conference on March 10 and Cantor’s growth conference on March 11. (Business Wire)
On Friday, Seagate’s stock ended a two-day winning streak even as the broader market edged up, and it closed about 7% below a 52-week high touched the day before. Trading volume was lighter than its 50-day average, MarketWatch data showed. (MarketWatch)
A day earlier, Seagate jumped 5.9% to $431.17 and outperformed some storage peers in a session when major U.S. indexes fell, according to MarketWatch. (MarketWatch)
In a separate company release on the note exchanges, Seagate said the notes being exchanged will be retired after closing and that about $400 million in principal amount is expected to remain outstanding on unchanged terms. (Seagate Investors)
Exchangeable notes are debt that can be swapped into equity under certain terms. Retiring a chunk can simplify a capital structure, but this deal uses cash and includes issuing new shares, leaving investors focused on the final share number and what it implies for existing holders.
Seagate traded as high as $459.84 on Thursday before sliding back, according to historical pricing data. (Investing)
But the setup into next week is not one-way. Any larger-than-expected share issuance could weigh on the stock, and the cash component may sharpen scrutiny of Seagate’s balance sheet if risk appetite fades or storage demand signals turn more mixed.
The next tests are close together: Tuesday’s reopen after the U.S. holiday, any confirmation around the Feb. 17 expected closing, and Seagate’s March 3 Morgan Stanley conference slot, where investors will look for updates that move beyond the filing language. (Seagate Investors)
