Advisors Capital Management LLC Takes Position in NetApp, Inc. $NTAP

Advisors Capital Management LLC acquired a new position in NetApp, Inc. (NASDAQ:NTAP – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,590 shares of the data storage provider’s stock, valued at approximately $556,000.

Other large investors have also added to or reduced their stakes in the company. West Financial Advisors LLC bought a new stake in shares of NetApp during the 2nd quarter worth approximately $37,000. Park Square Financial Group LLC grew its stake in shares of NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock valued at $29,000 after buying an additional 103 shares in the last quarter. Gen Wealth Partners Inc acquired a new position in NetApp during the fourth quarter worth $30,000. DV Equities LLC acquired a new position in NetApp during the fourth quarter worth $30,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in NetApp during the third quarter worth $35,000.

Institutional investors and hedge funds own 92.17% of the company's stock.

A number of analysts have commented on the stock. Barclays increased their price target on shares of NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Bank of America upped their target price on shares of NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Argus raised their target price on shares of NetApp from $130.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Citigroup lifted their price target on NetApp from $150.00 to $209.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $200.00 price target on shares of NetApp in a research report on Tuesday, June 2nd.

Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $177.25.

NetApp stock opened at $192.27 on Friday. The stock has a market cap of $37.73 billion, a P/E ratio of 30.23, a P/E/G ratio of 3.46 and a beta of 1.45. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $209.06. The company’s 50-day moving average price is $172.93 and its two-hundred day moving average price is $134.89.

NetApp (NASDAQ:NTAP – Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the firm earned $1.93 EPS. The company’s revenue was up 12.5% on a year-over-year basis. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. As a group, analysts expect that NetApp, Inc. will post 7.3 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Friday...