NetApp Company Profile (NASDAQ:NTAP)

NetApp trades on the NASDAQ under the ticker symbol "NTAP."

NetApp announced a quarterly dividend on Wednesday, August 16th. Shareholders of record on Friday, October 6th will be given a dividend of $0.20 per share on Wednesday, October 25th. This represents a $0.80 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, October 5th. View NetApp's Dividend History.

NetApp, Inc. (NASDAQ:NTAP) released its earnings results on Wednesday, August, 16th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.07. The business earned $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The company's revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 EPS. View NetApp's Earnings History.

NetApp is scheduled to release their next quarterly earnings announcement on Wednesday, November, 15th 2017. View Earnings Estimates for NetApp.

NetApp issued an update on its second quarter earnings guidance on Wednesday, August, 16th. The company provided earnings per share guidance of $0.64-0.72 for the period, compared to the Thomson Reuters consensus estimate of $0.69. The company issued revenue guidance of $1.31-1.46 billion, compared to the consensus revenue estimate of $1.37 billion.

31 analysts have issued 1-year price objectives for NetApp's stock. Their forecasts range from $25.00 to $62.00. On average, they expect NetApp's share price to reach $43.83 in the next twelve months. View Analyst Ratings for NetApp.

Here are some recent quotes from research analysts about NetApp stock:

• 1. Maxim Group analysts commented, "Very impressive April quarter results, including evidence that product GM is now on the upswing. July quarter guidance weak as we had previewed due to tough year ago y/y growth compare." (5/25/2017)
• 2. Credit Suisse Group analysts commented, "solid" and highlighted by a quarter-over-quarter and year-over-year growth in revenues to $1.48 billion and an earnings per share of $0.86, which was four cents better than expected. Also, the company reported an operating margin of 20.7 percent, which was better than the 19.2 percent he had expected.Limited DownsideGarcha continued that while NetApp's revenue and EPS guidance fell short of expectations, there is reason to believe revenue can grow. The analyst noted that in the recent quarter, product revenue grew 12 percent year-over-year, and while this growth rate will decelerate moving forward, the relative balance of strategic offering at two-thirds of total product revenues versus mature offering at one-third implies revenue growth could be "more achievable."Garcha further argued that although concerns over NetApp's growth profile remains, the analyst has confidence in the company's performance throughout the year, especially in improving operating margin performance.As such, the analyst's $37 price target reflects a P/E of 10x on his fiscal 2019 earnings per share estimate and factors in the approximate $5 of fully taxed net cash for per share. As such, downside in the stock is "limited" (5/25/2017)
• 3. According to Zacks Investment Research, "NetApp is a leading provider of innovative enterprise storage and data management solutions that simplify the complexity of storing, managing, protecting, and retaining enterprise data. The company has underperformed the broader market in the past one-year. Moreover, estimates have been stable ahead of the company's Q4 earnings release. We note that the company has mixed record of earnings surprises in recent quarters. However, NetApp is gaining momentum in the flash-based solutions space, particularly with the newly introduced all-flash array. The company is also winning customers previously served by competitors like HP and EMC. We believe that the company's recent product launches and growing portfolio based on SolidFire acquisition will drive the top line growth going ahead. Meanwhile, cost reduction initiatives will facilitate margin expansion over the long run." (5/15/2017)
• 4. UBS AG analysts commented, "Product revenue of $784mn was up for the first time in 13 quarters and above consensus of $754mn. The product gross margin of 45.7% was down 540bps YoY, likely due to discounting, which is worrisome. The $0.08 EPS beat was more driven by a $0.05 benefit from lower R&D, than from revenue, which was at the mid-point of guidance. That said, management has cut significant costs, accelerated the transition to ClusterMode, and created a competitive all-flash line. Our last three VAR Surveys reflected demand improvement. Still, we question whether the good times last with discounting hurting gross margin and R&D under pressure." (2/16/2017)
• 5. BMO Capital Markets analysts commented, "The turn-around at NTAP continued in the January quarter, with revenues and operating expenses better, offset by lower product gross margins. We are impressed with the execution the last few quarters, but stay on the sidelines." (2/16/2017)

Some companies that are related to NetApp include RELX N.V. (RENX), Ericsson (ERIC), TeliaSonera AB (TLSNY), Agilent Technologies (A), Weibo Corporation (WB), Level 3 Communications (LVLT), Microchip Technology Incorporated (MCHP), Sse Plc (SSEZY), Skyworks Solutions (SWKS), ServiceNow (NOW), Red Hat (RHT), Check Point Software Technologies (CHKP), Symantec Corporation (SYMC), SBA Communications Corporation (SBAC), Fujifilm Holdings Corp. (FUJIY), SK Telecom Co. (SKM), Xilinx (XLNX) and STMicroelectronics N.V. (STM).

NetApp's management team includes the folowing people:

• Thomas Michael Nevens, Chairman of the Board
• George Kurian, President, Chief Executive Officer, Director
• Ronald James Pasek, Chief Financial Officer, Executive Vice President
• Joel D. Reich, Executive Vice President - Product Operations
• Henri Pascal Richard, Executive Vice President - Worldwide Field and Customer Operations
• Matthew K. Fawcett, Senior Vice President, General Counsel, Corporate Secretary
• Jeffry R. Allen, Independent Director
• Alan L. Earhart, Independent Director
• Gerald D. Held Ph.D., Independent Director
• Kathryn M. Hill, Independent Director

NetApp's stock is owned by many different of institutional and retail investors. Top institutional shareholders include Vanguard Group Inc. (10.02%), BlackRock Inc. (7.97%), Dodge & Cox (4.53%), State Street Corp (4.48%), Capital International Investors (2.13%) and Renaissance Technologies LLC (1.23%). Company insiders that own NetApp stock include Alan L Earhart, George Kurian, George T Shaheen, Gerald Held, Henri P Richard, Jeffry R Allen, Joel D Reich, Matthew K Fawcett and Robert T Wall. View Institutional Ownership Trends for NetApp.

NetApp's stock was sold by a variety of institutional investors in the last quarter, including Dodge & Cox, Numeric Investors LLC, JPMorgan Chase & Co., Acadian Asset Management LLC, Capital Guardian Trust Co., Cornerstone Capital Management Holdings LLC., Marshall Wace North America L.P. and State Street Corp. Company insiders that have sold NetApp stock in the last year include Alan L Earhart, George Kurian, George T Shaheen, Gerald Held, Henri P Richard, Jeffry R Allen, Joel D Reich, Matthew K Fawcett and Robert T Wall. View Insider Buying and Selling for NetApp.

NetApp's stock was acquired by a variety of institutional investors in the last quarter, including Renaissance Technologies LLC, Janus Henderson Group PLC, BlackRock Inc., FMR LLC, Arrowstreet Capital Limited Partnership, Wells Fargo & Company MN, Canada Pension Plan Investment Board and Gotham Asset Management LLC. View Insider Buying and Selling for NetApp.

Shares of NetApp can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

One share of NetApp stock can currently be purchased for approximately $39.35.