SEAGATE TECHNOLOGY HOLDINGS PLC
STX
Information Technology
1
exclusion reason
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Seagate paid a $300M civil penalty (BIS, April 2023) — the largest standalone administrative penalty in BIS history — for exporting ~7.4 million hard disk drives worth ~$1.1 billion to Huawei between August 2020 and September 2021, violating the Foreign Direct Product rule. Seagate was the only major HDD manufacturer that continued selling to Huawei after the Entity List designation. The settlement includes a 5-year suspended Denial Order and mandatory multi-year audit.
Research Sources
2 organizations
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.