Dallas, Texas 07/26/2013 (Financialstrend) – Shares of Seagate Technology PLC (NASDAQ:STX) had been gaining effectively on Thursday with the recent announcement of the financial performance results for the fourth quarter of fiscal year 2013. In the earnings report, the company had reported strong operational performance to achieve revenues at $3.4 billion which had resulted in non GAAP gross profit margin at 28%. Further the company had reported net income at $447 million and earnings per share at $1.20 per diluted share of the company.
The deployment of cloud infrastructure and its related applications by wide range of customers of the company and the market demands that had stayed in line with the expectations had resulted in the increase in profits for the stock. The shares of the company had increased significantly on Thursday to present higher level of profits to the investors. The stock had been effectively moving towards the higher level of prices to reach the recent peaks touched by the company. It is further expected that the company would increase the estimates for the earnings and profits to be recorded for the full fiscal year of 2013.
The stock of Seagate Technology PLC (NASDAQ:STX) gained by 4.23% on Thursday and thereby reported a closing price of $42.32 per share for the day. The company had reported an intraday low price of $41.01 and intraday high price of $42.90 on Thursday. The 52 week low price of the stock is at $24.90 and 52 week high price of the stock is at $47.82 per share. Presently there are 359.00 million shares in the market and the institutional holding is at 80%. The stock had a trading volume of 9.63 million shares on Thursday and the average trading volume of the company is at the level of 3.72 million shares per day.