Seagate Technology Plc forecasted what its third-quarter revenue would look like, and it projects that it will be higher than previously estimated as PC makers try to get inventory. Seagate is the world’s largest maker of hard drives, and its shares were up 8% to $15.89. Since their December high of $15.39, they had lost 5% because there was speculation that the company would be bought out.

“There’s a question to the extent of how much of the Japan earthquake is playing out here, there is a little bit of scrambling on PC OEM’s part”, said analyst Aaron Rakers of Stifel Nicolaus. Because Seagate has customers like Hewlett-Packard and Dell Inc, analysts expect the demand for their products will also continue to grow into the fourth quarter.

On Thursday, they announced that the quarterly payout on June 1 will be around 18 cents per share, which is unusually high for the sector. In the last ten years, the company’s share payouts peaked at 12 cents per share in 2008. The payouts for the company seem to be jumping up and down though, because in February 2009, the payouts were only 3 cents per share.