NetApp

Summary NetApp reported another very strong quarter in the last couple of days. Much of the upside was a function of some very large deas called ELA’s with the largest enterprise customers using NetApp’s Data Fabric. The company enjoyed gross margins significantly above its expectations-really above its aspirational goals. Once again, the company issued highly…

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New Relic New Relic continued to achieve positive operating performance in the quarter it recently announced. The beat was relatively modest, as those things go, and compared to some of the other blowouts seen this reporting season. On the other hand, continuing to grow 35% at scale is no mean achievement and speaks both to…

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Pegasystems

Pegasystems Pegasystems reported its quarterly results last week to almost deathly silence. The share price didn’t move and the volume remained at low levels. It is a name that gets little respect and even less interest-and I think that is really a mistake. The company, like almost all other old-line software vendors is moving-rapidly-to a…

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HPE HPE used to be a holding in our income/stability portfolio. We had sold the shares in our managed accounts back in March at a price of $18.90 after the shares enjoyed a significant run in the wake of a strong quarter. The company reported the results of its April ending quarter Tuesday afternoon. Notionally,…

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NetApp Analyst Day

NetApp held its analyst day yesterday. The presentation was much as anticipated. Specifically, the dividend was doubled, with intimations that it the company is focused on raising yields by steadily increasing dividend payouts. The company presented guidance for fiscal year 2019 which starts on May 1st. The guidance was above the currently published First Call…

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Spring Cleaning

We are making two changes to the high growth portfolio this day. We are selling Red Hat shares at today’s opening price. This will raise about $22,000 in cash and will increase the cash balance in the portfolio to about $30,000. We are also selling 11% of all of the other portfolio holdings at the…

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NetApp: Shares For Sale

Summary NetApp announced the results of its fiscal Q3 last week. Simply put, the results were a blow-out and the company increased its outlook for Q4 revenues. The shares pulled back sharply – close to 10% in the immediate wake of the release. At this price, the shares are on sale and valuation is very…

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Post 1/24

We have elected to sell our position in Symantec (414 shares) at the opening price of $26.75. Symantec shares have underperformed over the last year or so. The shares rallied to $32.50 in mid-summer but have now declined to their level as of last January. Symantec has been downgraded based on ambivalent channel checks by…

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NetApp will be releasing its earning tomorrow after the close of trading. The shares, which are included in our portfolios, have been on a tear with appreciation of about 14% over the past 30 days, some of it that in response to the upgrade by Goldman 2 weeks ago. At least based on posted ratings…

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NTAP restructuring

On Friday, NetApp announced that it was planning to reduce its work force by as much as 6%. The shares fell by 6% in the wake of the layoff announcement and are off by 10% mtd. This is the third of the company’s workforce reductions since the new CEO was appointed about a year ago.…

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