NetApp Company Profile (NASDAQ:NTAP)

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

NetApp declared a quarterly dividend on Wednesday, May 24th. Stockholders of record on Friday, July 7th will be given a dividend of $0.20 per share on Wednesday, July 26th. This represents a $0.80 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Wednesday, July 5th. This is a boost from NetApp's previous quarterly dividend of $0.19. View NetApp's Dividend History.

NetApp, Inc. (NASDAQ:NTAP) posted its quarterly earnings results on Wednesday, May, 24th. The company reported $0.86 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.82 by $0.04. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.44 billion. NetApp had a return on equity of 21.66% and a net margin of 9.22%. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 earnings per share. View NetApp's Earnings History.

NetApp is scheduled to release their next quarterly earnings announcement on Wednesday, August, 16th 2017. View Earnings Estimates for NetApp.

NetApp issued an update on its first quarter earnings guidance on Wednesday, May, 24th. The company provided earnings per share guidance of $0.49-0.57 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.67. The company issued revenue guidance of $1.24-1.39 billion, compared to the consensus revenue estimate of $1.33 billion.

31 analysts have issued 12 month price targets for NetApp's stock. Their predictions range from $25.00 to $62.00. On average, they expect NetApp's stock price to reach $41.88 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 AG 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)

NetApp saw a drop in short interest in the month of June. As of June 15th, there was short interest totalling 10,134,730 shares, a drop of 33.6% from the May 31st total of 15,265,110 shares. Based on an average trading volume of 3,086,893 shares, the short-interest ratio is presently 3.3 days. Currently, 3.7% of the company's stock are short sold.

Some companies that are related to NetApp include Autodesk (ADSK), Dassault Systemes SA (DASTY), RELX PLC (RELX), Amphenol Corporation (APH), DXC Technology Company. (DXC), Fortive Corporation (FTV), Workday (WDAY), Level 3 Communications (LVLT), Ericsson (ERIC), Kyocera Corporation (KYO), Hoya Corp. (HOCPY), TeliaSonera AB (TLSNY), RELX N.V. (RENX), Skyworks Solutions (SWKS), Sse Plc (SSEZY), Agilent Technologies (A), Microchip Technology Incorporated (MCHP) and Symantec Corporation (SYMC).

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 investors include APG Asset Management N.V. (0.91%), ANTIPODES PARTNERS Ltd (0.35%), Ardevora Asset Management LLP (0.32%), First Quadrant L P CA (0.14%), National Pension Service (0.11%) and Chevy Chase Trust Holdings Inc. (0.09%). 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 APG Asset Management N.V., Exxonmobil Investment Management Inc. TX, Creative Planning, DnB Asset Management AS, Oakbrook Investments LLC and Gateway Investment Advisers LLC. 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 purchased by a variety of institutional investors in the last quarter, including ANTIPODES PARTNERS Ltd, Ardevora Asset Management LLP, Pensionfund DSM Netherlands, Palo Capital Inc., Pensionfund Sabic, Mn Services Vermogensbeheer B.V., James Investment Research Inc. and National Pension Service. 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 $44.76.