[4] In 1983, Al Shugart was replaced as president by then chief operating officer, Tom Mitchell, in order to move forward with corporate restructuring in the face of a changing market.

[4] In 1989, Seagate acquired Imprimis Technology, the disk storage division of Control Data Corporation, resulting in a combined market share of 43%.

[18] In May 1995, Seagate Technology acquired Frye Computer Systems, a software company based in Boston, Massachusetts.

[19] This company developed the LAN monitoring software kit The Frye Utilities for Networks,[20] which won PC Magazine's "Editor's Choice" award in 1995.

[30] In March 1995, he was appointed Executive Vice President of Corporate Development and chief operating officer of Seagate Software Holdings.

Historically, Seagate's design centers had been organized around function, with one product line manager in charge of tracking the progress of all programs.

In 1998, Luczo and CTO Tom Porter called for an organizational redesign of design centers into core teams focused on individual projects, in order to meet the corporate objective of faster time to market.

In 1998, the company's Seagate Research facility was also established in Pittsburgh,[32] a $30 million investment that focused on future technologies and prototypes.

He decided to turn the company private, since disk drive producers had a hard time obtaining capital for long-term projects.

[37] In early November 1999, Luczo met with representatives of Silver Lake Partners to discuss a major restructuring of Seagate.

In early November 1999, Morgan Stanley arranged a meeting between Seagate executives and representatives of Silver Lake Partners.

[41] In September 2004, The New York Times called Seagate "the nation's top maker of hard drives used to store data in computers", following the company forecasting its quarterly revenue above Wall Street estimates.

It also credited Seagate as being the company that "sparked the personal computer revolution 25 years ago with the first 5.25-inch hard drive for the PC".

[48] On August 27, 2008, Seagate's stock listing was transferred to the NASDAQ Global Select Market (NASDAQ-GS large cap), trading under the same ticker symbol, STX.

In January 2009, Luczo was asked by the Seagate Board to return as CEO of the company, replacing Bill Watkins.

As of the date of his hiring, Seagate was losing market share, facing rapidly declining revenues, was lagging in product delivery with high manufacturing costs, had an excessive operating expense structure, and had $2 billion of debt that was due within 2 years.

Luczo revamped the entire management team, and quickly reorganized the company back to a functional structure after a failed attempt to organize by business units in 2007.

[59] In January 2017, Seagate announced the shutdown of one of its largest HDD assembly plants, located in Suzhou, China.

[61][62] In June 2018, Seagate was honored at the 14th Annual Manufacturing Leadership Awards Gala in Huntington Beach, California.

"[71] In November 2021, at the Open Compute Summit, Seagate demonstrated the industry's first HDD with a non-volatile memory express (NVMe) interface.

Seagate plans to ramp capacity of their HAMR drives, eventually reaching an areal density of 5 TB per platter by 2028.

[80][78] In February 2025, Seagate announced it would acquire HDD equipment maker Intevac for $119 million in an all-cash deal.

The largest stakes held by hedge funds Vanguard Group, Inc, Sanders Capital, LLC and BlackRock, Inc. account for 11%, 7.2%, 7.2% of shares outstanding respectively.

[99][100][101] However, the Backblaze tests have been criticized for having a flawed methodology that has inconsistent environment variables, such as ambient temperatures, vibration, and disk usage.

[102][103] In addition, Backblaze's statistics show that the vast majority of their installed drives are manufactured by Seagate, and Backblaze editor Andy Klein has noted "that a large number of new Seagate drives being deployed could be statistically responsible" for failure rate data in their specific datacenter population.

[106] In October 2021, a report by U.S. Senate Republicans claimed that Seagate violated Export Administration Regulations by selling parts and components to Huawei following U.S. sanctions against the Chinese telecommunications company.

[107] The company received another letter in August 2022 from the U.S. Commerce Department's Bureau of Industry and Security (BIS) for allegedly violating export sanctions to sell Huawei hard drives.

Seagate denied any violations claiming that its foreign-made hard drives are not subject to the restriction since the disks and the equipment to make them were not a direct product of any American semiconductor technology or software.

[108][75] In April 2023, Seagate reached a settlement agreement with the Department agreeing to pay $300 million—the largest civil penalty imposed by the BIS—for selling over 7.4 million hard drives to Huawei without BIS authorization.

The resolution also included three stages of audits focusing on its export controls compliance program and a suspended denial order.