Seagate Technology Shares Rise 5%

(RTTNews) - Seagate Technology Holdings plc (STX) shares gained 5.64 percent, rising $49.00 to $917.09 on Friday, likely continuing momentum from the company's announcement yesterday, that it will redeem all outstanding 3.50% Exchangeable Senior Notes due 2028.

The stock is currently trading at $917.09, compared with its previous close of $868.09 on the Nasdaq. During the session, shares opened at $880.19 and traded between $868.14 and $939.90. Trading volume reached 1.15 million shares, below its average daily volume of 3.94 million shares.

The move is viewed as a balance-sheet management initiative that could simplify the company's capital structure and reduce future debt-related obligations. Holders of the notes have until September 3, 2026, to exchange their securities before the scheduled redemption date of September 8, 2026.

Seagate shares have traded between $124.63 and $966.80 over the past 52 weeks.