NetApp seems almost ready to spread its wings – but many analysts think they have shot it down!
Is that hyperbole? It is important to carefully review what NetApp (NASDAQ:NTAP) has been able to accomplish since the new management team was appointed to clean up the wreckage wrought by the prior CEO and the team that had run the company almost to extinction.
This is still a turnaround in progress. The company is yet to be able to print a quarter of revenue growth although it has forecast that it will finally be able to do so in the next couple of quarters. It has aggressively attacked a bloated cost structure. It has noticeably shrunk outstanding shares while also paying off a short-term loan used to acquire SolidFire, an acquisition once derided but now producing rapid growth for NetApp in the all-flash array space.
To a certain extent, even though some of the accomplishment was a function of the SolidFire acquisition, the company has been able to becom e a relevant competitor in the All-Flash Array market with a revenue run rate of $1 billion, up 40% quarter on quarter/200% year-on-year.
Top Growth Stocks To Invest In 2018: Carnival Corporation(CUK)
- [By Rick Munarriz]
Carnival Corporation & plc (NYSE:CCL) (NYSE:CUK)shareholders have to be feeling pretty good these days. The stock hit yet another new high on Friday, and the stock is trading 13% higher so far in 2017.It’s been smooth sailing so far this year, but the first big test comes on Tuesday morning when the world’s largest cruise line operator reports financial results for its fiscal first quarter.
Top Growth Stocks To Invest In 2018: Huaneng Power International, Inc.(HNP)
- [By Lisa Levin]
In trading on Friday, utilities shares rose by just 0.5 percent. Meanwhile, top losers in the sector included TransAlta Corporation (USA) (NYSE: TAC), down 1 percent, and Huaneng Power International Inc (ADR) (NYSE: HNP), down 1 percent.
Top Growth Stocks To Invest In 2018: Microchip Technology Incorporated(MCHP)
- [By Ben Levisohn]
Microchip Technology (MCHP) sunk to the bottom of the S&P 500 today as semiconductor stocks got clobbered.
Shares of Microchip Technology tumbled 7.5% to $61.23 today, while the S&P 500 declined 0.4% to 2,191.08. The SPDR S&P Semiconductor ETF (XSD) fell 4.8% to $52.29, while the VanEck Vectors Semiconductor ETF (SMH) dropped 4.8% to $67.68.
Today’s slaughter comes two days after Microchip Technology narrowed its third-quarter guidance. Stifel’s Kevin Cassidy and team had the details:
Microchip upwardly revised its December ending quarter…Non-GAAP EPS guidance was updated to $0.87 – $0.94 compared to $0.85 – $0.95 previously…The According to management, the upside is coming from better than expected integration of recent acquisitions. Management pointed out that significant gross margin improvements may be recognized as the inventory of higher cost products from the now closed Micrel fab is depleted. We have revised our revenue and non-GAAP earnings estimates and increased our 12-month target price to $70.
Microchip Technology’s market capitalization fell to $13.2 billion from $14.3 billion yesterday. It report net income of $324 million on sales of $2.2 billion in fiscal 2016.
- [By Ben Levisohn]
My colleague Tiernan Rey at Barron’s Tech Trader Daily quoted B. Rileys Craig Ellis in a post today, who called the selloff yesterday an unusually attractive entry opportunity forApplied Materials andMicrochip Technology (MCHP) buyers.