NetApp Inc. (NTAP) Announces $0.20 Quarterly Dividend

NetApp Inc. (NASDAQ:NTAP) announced a quarterly dividend on Wednesday, February 14th, RTT News reports. Shareholders of record on Friday, April 6th will be given a dividend of 0.20 per share by the data storage provider on Wednesday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.36%.

NetApp (NASDAQ:NTAP) traded up $1.01 during trading on Wednesday, hitting $58.74. The company’s stock had a trading volume of 3,911,900 shares, compared to its average volume of 2,905,859. The company has a market cap of $16,170.00, a price-to-earnings ratio of 26.01, a price-to-earnings-growth ratio of 1.84 and a beta of 1.33. NetApp has a twelve month low of $37.43 and a twelve month high of $64.06. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.55.

NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.12. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 EPS. research analysts expect that NetApp will post 2.76 earnings per share for the current fiscal year.

In related news, Director George T. Shaheen sold 36,916 shares of NetApp stock in a transaction on Friday, November 17th. The stock was sold at an average price of $53.10, for a total transaction of $1,960,239.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO George Kurian sold 3,826 shares of NetApp stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $63.01, for a total value of $241,076.26. Following the transaction, the chief executive officer now owns 20,637 shares in the company, valued at $1,300,337.37. The disclosure for this sale can be found here. Insiders have sold 176,629 shares of company stock worth $9,568,956 over the last quarter. 0.47% of the stock is owned by company insiders.

A number of research firms have commented on NTAP. Barclays reissued an “overweight” rating and issued a $56.00 target price (up previously from $52.00) on shares of NetApp in a report on Thursday, November 16th. Zacks Investment Research raised NetApp from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a report on Tuesday. Piper Jaffray Companies reissued an “overweight” rating and issued a $60.00 target price on shares of NetApp in a report on Thursday, November 16th. Morgan Stanley raised NetApp from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $41.00 to $64.00 in a report on Tuesday, January 23rd. Finally, Bank of America raised NetApp from a “neutral” rating to a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. NetApp has a consensus rating of “Hold” and a consensus target price of $53.85.

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NetApp Company Profile

NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.

Dividend History for NetApp (NASDAQ:NTAP)

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