NetApp Company Profile (NASDAQ:NTAP)

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

NetApp declared a quarterly dividend on Wednesday, August 16th. Shareholders of record on Friday, October 6th will be paid a dividend of $0.20 per share on Wednesday, October 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Thursday, October 5th. View NetApp's Dividend History.

NetApp, Inc. (NASDAQ:NTAP) posted its quarterly earnings data on Wednesday, August, 16th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.07. The firm earned $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. NetApp had a net margin of 10.47% and a return on equity of 24.13%. The firm's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $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 updated its second quarter earnings guidance on Wednesday, August, 16th. The company provided EPS guidance of $0.64-0.72 for the period, compared to the Thomson Reuters consensus earnings per share 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 predictions range from $29.00 to $62.00. On average, they anticipate NetApp's stock price to reach $44.96 in the next twelve months. View Analyst Ratings for NetApp.

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

• 1. According to Zacks Investment Research, "NetApp's better-than-expected first-quarter 2018 results benefited from continuous product refreshes and growing portfolio based on SolidFire acquisition. Extended partnership with Microsoft also looks beneficial for the company. The company is also winning customers previously served by competitors like HP and Dell-EMC. Meanwhile, cost reduction initiatives will facilitate margin expansion over the long run. Notably, the company has outperformed the industry on a year-to-date basis. However, intensifying competition in the flash segment is a major headwind." (10/5/2017)
• 2. 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)
• 3. 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)
• 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 increase in short interest during the month of September. As of September 29th, there was short interest totalling 10,395,624 shares, an increase of 15.5% from the September 15th total of 8,999,351 shares. Based on an average trading volume of 2,807,479 shares, the days-to-cover ratio is presently 3.7 days. Approximately 3.9% of the company's shares are short sold.

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

NetApp's management team includes the folowing people:

• Thomas Michael Nevens, Independent 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
• Alan L. Earhart, Independent Director
• Gerald D. Held Ph.D., Independent Director
• Kathryn M. Hill, Independent Director
• George T. Shaheen, Independent Director

NetApp's stock is owned by many different of retail and institutional investors. Top institutional investors include Eqis Capital Management Inc. (0.01%). 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, Richard P Wallace 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 Eqis Capital Management Inc.. Company insiders that have sold NetApp stock in the last year include Alan L Earhart, George Kurian, Gerald Held, Henri P Richard, Jeffry R Allen, Joel D Reich, Matthew K Fawcett and Richard P Wallace. 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 $43.72.