Seagate Technology PLC cut its outlook for its latest quarter to reflect lower-than-expected demand and focused inventory reductions that reduced utilization levels at some factories.

Shares fell 3.3% to $32.80 in recent after-hours trading. Through Wednesday's close, the stock has fallen 39% in the past 12 months.

For the quarter ended April 1, the Cupertino, Calif., company now expects revenue of roughly $2.6 billion and adjusted margins of about 23%, compared with its preview guidance for revenue of about $2.7 billion and adjusted margins of 25.6%.

The company said the reduced outlook included weaker demand for enterprise disk drives and lower demand for desktop-client products, primarily in China.

"There are many complex issues impacting the traditional go to market channels in our market, which are reducing our forecast visibility," Chairman and Chief Executive Steve Luczo said in prepared remarks Wednesday.

The company is "in the process of prioritizing our strategic positioning, manufacturing footprint and operating expense investments" and changes will be implemented over the next several quarters, Mr. Luczo stated.

Seagate has long been one of the biggest makers of disk drives and, together with rival Western Digital Corp., far outsells others in the field.

The company plans to release its quarterly financial results April 29.

Write to Tess Stynes at tess.stynes@wsj.com

(END) Dow Jones Newswires

April 13, 2016 18:35 ET (22:35 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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