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Hot Buys at Their 52-Week Highs

NTAP Revenue Quarterly Chart NTAP Revenue Quarterly data by YCharts

NetApp (NTAP - Get Report)

Background: NetApp engages in design, manufacture, marketing, and technical support of networked storage solutions. The company supplies enterprise storage and data management software as well as hardware products and services. NetApp trades an average of 5.5 million shares per day with a marketcap of $14.8 billion.

52 Week High:$43.69

Beta: 1.44

Price to Book: 3.7

NetApp isn't the cheapest stock, even in this group with a forward P/E of 13.85, however NetApp is priced for near zero growth. Meanwhile, revenue has about doubled in the last five years.

With this in mind, NetApp's 19% one year price gain is more catch-up than over extension.

The company currently pays an annualized 60 cents per share in dividends for a yield of 1.4%, and only a 10% payout ratio. NetApp's first dividend payment was this year, so we can't exactly say they have a long history of dividend payments, but I like the direction they are traveling in.

Look for an entry price of $42.12 as the sweet spot to enter, based on my technical analysis of the daily and weekly charts.

NTAP Net Income Quarterly Chart NTAP Net Income Quarterly data by YCharts

At the time of publication the author had no position in any of the stocks mentioned.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.
Robert Weinstein is an active trader focusing on the psychological importance of risk mitigation, emotion and financial behavior of market participants. Robert co-founded the investing blog StockSaints, where he writes a journal about his trading activity and experiences.

In addition to TheStreet, Robert also contributes to Real Money Pro, providing real-time trading ideas for stocks, options and futures.
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