Seagate Stock Plummets 6.71% with $612 Million Trading Volume as Intevac Acquisition Fails to Boost Market Confidence

On April 4, 2025, Seagate Technology Holdings plc (STX) experienced a significant decline in its stock price, with a trading volume of $612 million, marking a 35.87% decrease from the previous day. The company's stock price dropped by 6.71%, continuing a two-day downward trend with a cumulative decline of 21.97%.

Seagate recently completed the acquisition of Intevac, a supplier of thin-film processing systems, for $4.00 per share. This acquisition is expected to enhance Seagate's capabilities in media process upgrades, particularly for Heat-Assisted Magnetic Recording (HAMR) technology. The integration of Intevac into Seagate's operations is seen as a strategic move to strengthen its competitive position in the market.

OpenDrives, a data storage and management platform provider, has announced a new evolution of its flagship Atlas platform. This update includes cost predictability, economical scalability, and high performance, with targeted composable feature bundles. The platform now supports Seagate Exos E JBOD expansion enclosures, offering greater flexibility and freedom of choice for users.