Seagate Technology Holdings plc announced a significant update following a recent board meeting, where the board of directors approved the repurchase of up to $5 billion of the company's common stock. This initiative is part of the existing share repurchase program, allowing for flexibility in purchasing shares through various methods such as open market purchases, privately negotiated transactions, and other structured repurchase transactions. The decision underscores the company's commitment to strategic financial management, with the timing and amount of repurchases contingent upon its financial position and other relevant factors. Furthermore, Seagate is engaging with analysts and investors in New York City, both in-person and via webcast, to discuss this approval and outline new financial targets extending to the fiscal year ending in 2028. The repurchase program is open-ended, with the company retaining the right to modify, suspend, or terminate it at any time without prior notice.
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