Seagate Technology Analyst Roundup

Seagate Technology PLC (NASDAQ: STX) beat Q1 FY 2015 earnings expectations Monday.

The company reported revenue of $3.79 billion and EPS of $1.34, above estimates of $3.63 billion and $1.24.

Below are some highlights from analysts after the earnings announcement along with current ratings and price targets.

Deutsche Bank - Buy, $72 Price Target

"We have adjusted our sales estimates higher but lowered our EPS assumptions on higher expenses from new businesses. Driven by our modestly lower EPS, we have also tweaked our PT down to $72 from $74. We continue to view STX as well positioned to benefit from LT data growth and view valuation as attractive."

FBN Securities - Sector Perform, $65 Price Target

"STX noted particular strength in (lower-margin) gaming drives (which, unlike for WDC, are classified in mobile drives). Mobile drive shipments (with gaming) of 20.2M grew 18 percent Y/Y and came in 700M higher than our prior estimate, so we estimate that gaming may have come in 700K units above expectations."

Noble Financial - Buy, $64 Price Target

"Demand trends are expected to remain healthy in most segments in the December quarter and channel inventories exiting the September quarter were within normal seasonal bounds. The firm guided to a drive TAM of 145 million units resulting in forecast sales slightly above investor expectations going into the call for the December quarter. A slight improvement in December margins is also expected."

Seagate Technology PLC recently traded at $58.7, up 0.60 percent.