NetApp Stock Hits New 52-Week High (NTAP)

NEW YORK ( TheStreet) -- NetApp (Nasdaq: NTAP) hit a new 52-week high Monday as it is currently trading at $40.34, above its previous 52-week high of $39.51 with 2.4 million shares traded as of 10:05 a.m. ET. Average volume has been 8.1 million shares over the past 30 days.

NetApp has a market cap of $14.09 billion and is part of the technology sector and computer hardware industry. Shares are up 16.3% year to date as of the close of trading on Friday.

NetApp, Inc. engages in design, manufacture, and marketing of networked storage solutions. The company supplies enterprise storage and data management software and hardware products and services.

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TheStreet Ratings rates NetApp as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full NetApp Ratings Report.

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