Lingohr & Partner Asset Management GmbH Maintains Stake in NetApp, Inc. (NTAP)

Lingohr & Partner Asset Management GmbH maintained its position in shares of NetApp, Inc. (NASDAQ:NTAP) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,665 shares of the data storage provider’s stock at the close of the 2nd quarter. Lingohr & Partner Asset Management GmbH’s holdings in NetApp were worth $739,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. American Beacon Advisors Inc. bought a new stake in shares of NetApp during the first quarter valued at approximately $110,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of NetApp during the first quarter valued at approximately $209,000. Blair William & Co. IL bought a new stake in shares of NetApp during the first quarter valued at approximately $216,000. Eagle Global Advisors LLC bought a new stake in shares of NetApp during the second quarter valued at approximately $210,000. Finally, Pitcairn Co. bought a new stake in shares of NetApp during the second quarter valued at approximately $211,000. 92.10% of the stock is owned by hedge funds and other institutional investors.

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NetApp, Inc. (NASDAQ NTAP) traded up 0.93% during midday trading on Friday, reaching $41.03. 3,640,517 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $40.47 and its 200-day moving average price is $40.64. NetApp, Inc. has a 1-year low of $30.36 and a 1-year high of $45.24. The company has a market capitalization of $11.07 billion, a PE ratio of 19.81 and a beta of 1.22.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 the consensus estimate of $1.32 billion. During the same period last year, the firm posted $0.46 EPS. NetApp’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts expect that NetApp, Inc. will post $3.12 EPS for the current year.

The firm also recently disclosed 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. This represents a $0.80 annualized dividend and a yield of 1.95%. The ex-dividend date is Thursday, October 5th. NetApp’s payout ratio is currently 38.65%.

In other news, VP Joel D. Reich sold 9,031 shares of NetApp stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $39.81, for a total value of $359,524.11. Following the sale, the vice president now owns 10,902 shares of the company’s stock, valued at $434,008.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 59,697 shares of NetApp stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $39.93, for a total transaction of $2,383,701.21. Following the completion of the sale, the chief executive officer now directly owns 87,295 shares in the company, valued at approximately $3,485,689.35. The disclosure for this sale can be found here. Insiders have sold a total of 83,226 shares of company stock worth $3,344,026 over the last three months. 0.47% of the stock is currently owned by insiders.

NTAP has been the subject of several research analyst reports. Drexel Hamilton reaffirmed a “buy” rating and set a $62.00 price target on shares of NetApp in a research note on Wednesday, May 24th. Credit Suisse Group raised shares of NetApp from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $35.00 to $37.00 in a research note on Thursday, May 25th. Maxim Group reaffirmed a “hold” rating and set a $46.00 price target on shares of NetApp in a research note on Thursday, May 25th. FBN Securities raised shares of NetApp from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $45.00 to $50.00 in a research note on Thursday, May 25th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $44.00 price target (down previously from $47.00) on shares of NetApp in a research note on Thursday, May 25th. Three research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $43.70.

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.

Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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