(Adds analyst comment) Seagate Technology plc shares slid more than 10% Tuesday before recouping some of that loss, after the company beat consensus estimates for its fiscal third quarter to March 30, but fell short of high investor expectations. The disk drive and storage company said it had net income of $381 million or $1.31 a share, in its fiscal third quarter to March 30, up from $194 million, or 65 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.46, ahead of the FactSet consensus of $1.33. Revenue rose to $2.80 billion from $2.67 billion, also ahead of the FactSet consensus of $2.75 billion. CFRA analyst Angelo Zino reiterated a hold rating on the stock, but raised his fiscal 2018 EPS estimate to $5.42 from $4.49 and his fiscal 2019 estimate to $5.07 from $4.37. Zino said the lack of improvement in gross margin was disappointing, as the company shifted more of its business to higher margin cloud business. Zino also said there were concerns about potential share loss "as the year progresses in its more traditional PC business, as solid state prices come down (due to increasing supply of flash). That could be why its direct peer, Western Digital, is holding up much better today," he said in emailed comments. On the company's earnings call with analysts, Chief Financial Officer David Morton said the company works with customers, vendors and suppliers across the world. "In the area of tax and trade the U. S. and China have recently announced potential trade actions that could increase tariffs on some products imported into the U.S.," he said, according to a FactSet transcript. "Given the fluid nature of the issue it is too speculative to determine any impact or changes for Seagate's operations. However, we continue to monitor the situation." Shares have gained 27% in the last 12 months, while the S&P 500 has gained 11%.