Thompson Siegel & Walmsley LLC Has $98.16 Million Position in NetApp, Inc. (NTAP)
Thompson Siegel & Walmsley LLC raised its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,451,018 shares of the data storage provider’s stock after buying an additional 94,407 shares during the period. NetApp makes up approximately 1.2% of Thompson Siegel & Walmsley LLC’s investment portfolio, making the stock its 20th largest position. Thompson Siegel & Walmsley LLC owned 0.90% of NetApp worth $98,164,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of NTAP. Korea Investment CORP raised its stake in shares of NetApp by 17.4% in the first quarter. Korea Investment CORP now owns 131,667 shares of the data storage provider’s stock valued at $5,510,000 after buying an additional 19,539 shares in the last quarter. Profund Advisors LLC raised its position in shares of NetApp by 8.1% in the first quarter. Profund Advisors LLC now owns 7,624 shares of the data storage provider’s stock worth $319,000 after buying an additional 572 shares during the period. Janney Montgomery Scott LLC raised its position in shares of NetApp by 23.9% in the first quarter. Janney Montgomery Scott LLC now owns 20,428 shares of the data storage provider’s stock worth $855,000 after buying an additional 3,943 shares during the period. NJ State Employees Deferred Compensation Plan purchased a new position in shares of NetApp during the first quarter worth about $209,000. Finally, Sumitomo Mitsui Asset Management Company LTD raised its position in shares of NetApp by 10.1% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 23,971 shares of the data storage provider’s stock worth $1,003,000 after buying an additional 2,200 shares during the period. Hedge funds and other institutional investors own 91.85% of the company’s stock.
NetApp, Inc. (NTAP) traded down 0.03% on Friday, reaching $38.65. 1,786,746 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $41.76 and a 200-day moving average of $40.70. The company has a market cap of $10.44 billion, a P/E ratio of 18.66 and a beta of 1.22. NetApp, Inc. has a 12-month low of $30.36 and a 12-month high of $45.24.
NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.07. NetApp had a net margin of 10.47% and a return on equity of 24.13%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the business posted $0.46 earnings per share. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts expect that NetApp, Inc. will post $3.12 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Friday, October 6th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.80 annualized dividend and a yield of 2.07%. NetApp’s payout ratio is currently 38.65%.
A number of equities analysts recently issued reports on the company. BidaskClub upgraded NetApp from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Credit Suisse Group raised their target price on NetApp from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. Citigroup Inc. raised their target price on NetApp from $41.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, August 17th. Barclays PLC raised their target price on NetApp from $35.00 to $38.00 and gave the stock an “underweight” rating in a research note on Thursday, August 17th. Finally, Morgan Stanley restated an “underperform” rating and issued a $38.00 target price (up previously from $35.00) on shares of NetApp in a research note on Thursday, August 17th. Three equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $43.70.
In other NetApp news, EVP Henri P. Richard sold 3,952 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $42.20, for a total transaction of $166,774.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO George Kurian sold 4,570 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $37.98, for a total transaction of $173,568.60. Following the transaction, the chief executive officer now owns 23,028 shares in the company, valued at $874,603.44. The disclosure for this sale can be found here. Insiders have sold 91,296 shares of company stock worth $3,661,823 over the last 90 days. 0.47% of the stock is currently owned by company insiders.
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.
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