The data-storage firm NetApp Inc. (NASDAQ:NTAP) under pressure from an activist investor to increase shareholder value, firm declared that it is reducing jobs and planning to return cash from side to side stock buybacks and dividends.
The firm surged its stock-buyback program by $1.6B, bringing the total to $3B over 3 years. The Sunnyvale, California-based firm declared yesterday in a statement that NetApp started a quarterly dividend of 15 cents per share. It’s also eliminating 900 jobs.
While a portfolio manager at New York-based Elliott Management, Jesse Cohn said yesterday in an e-mailed statement that they commend the optimistic steps taken by NetApp today to get better both the capital and expense structure at the firm. The same as a significant shareholder, Elliott believes NetApp is a extremely valuable and strategic business and they look advance to the firm’s continued commitment to creating shareholder value.
Fusion-IO, Inc. (NYSE:FIO) aims to hold global technology conference on June 5, 2013 as it shares reported the dropped -3.20% and closed at $14.22 with the total traded volume of 3.94M shares. Its price to sales ratio ended at 3.23 and its price to cash per share was $3.94. Its market capitalization is $1.37 billion. The stock owned by the Financial Institutions was 97% while by insiders was 17.74%.
While SanDisk Corporation (NASDAQ:SNDK)’s shares rating retreated by TheStreet to ‘Buy’, as it has the market capitalization of $14.18 billion, enterprise value of $12.99 billion. The firm has the price over sales value of $2.73 whereas its price over book value of $1.94 for the most current quarter. It has the total of cash of $3.31 billion against to total debt of $1.72 billion for the most recent quarter with the current ratio of 2.59 for the most recent quarter.
In other hand, Seagate Technology PLC (NASDAQ:STX) announced on Wednesday that its hires new vice president for worldwide operations, as its shares posted in last trading session increase of 1.17% to finished at $41.52 with volume of 3.11 million shares. Its market capitalization was $14.89 billion. Its debt to equity ratio was 0.75. Its beta value stands at 2.45 times and return on equity was 71.79%.
STX has the total of 358.55 million outstanding shares as compares to 309.44 million shares that were floated in the market.