filings.toolsItem 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
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Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
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The Company’s common stock is traded on the NASDAQ Stock Market LLC (“NASDAQ”) under the symbol NTAP.
Price Range of Common Stock
The price range per share of common stock presented below represents the highest and lowest intraday sales prices for the Company’s common stock on the NASDAQ during each quarter of our two most recent fiscal years.
| Fiscal 2017 | Fiscal 2016 | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High | Low | High | Low | |||||||||||||
| First Quarter | $ | 26.95 | $ | 22.50 | $ | 37.07 | $ | 30.25 | ||||||||
| Second Quarter | $ | 36.10 | $ | 25.82 | $ | 34.81 | $ | 28.75 | ||||||||
| Third Quarter | $ | 39.00 | $ | 30.36 | $ | 34.73 | $ | 20.66 | ||||||||
| Fourth Quarter | $ | 43.14 | $ | 37.48 | $ | 27.51 | $ | 20.89 |
Holders
As of June 9, 2017 there were 474 holders of record of our common stock.
Dividends
The Company paid cash dividends of $0.19 per outstanding common share in each quarter of fiscal 2017 for an aggregate of $208 million, $0.18 per outstanding common share in each quarter of fiscal 2016 for an aggregate of $210 million, and $0.165 per outstanding common share in each quarter of fiscal 2015 for an aggregate of $208 million.
Performance Graph
The following graph shows a comparison of cumulative total shareholder return, calculated on a dividend reinvested basis, of an investment of $100 for the Company, the S&P 500 Index, the S&P Information Technology Index and the S&P 1500 Technology Hardware & Equipment Index for the five years ended April 28, 2017. The comparisons in the graphs below are based upon historical data and are not indicative of, nor intended to forecast, future performance of our common stock. The graph and related information shall not be deemed “soliciting material” or be deemed to be “filed” with the SEC, nor shall such information be incorporated by reference into any past or future filing with the SEC, except to the extent that such filing specifically states that such graph and related information are incorporated by reference into such filing.
COMPARISON OF FIVE YEAR CUMULATIVE TOTAL RETURN
Among NetApp, Inc., the S&P 500 Index, the S&P Information Technology Index and the S&P 1500 Technology Hardware & Equipment Index*
*$100 invested on April 27, 2012 in stock or index, including reinvestment of dividends. Data points are the last day of each fiscal year for the Company’s common stock and each of the indexes.
| April 2012 | April 2013 | April 2014 | April 2015 | April 2016 | April 2017 | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NetApp, Inc. | $ | 100.00 | $ | 89.34 | $ | 91.05 | $ | 95.66 | $ | 64.23 | $ | 110.78 | ||||||||||||
| S&P 500 Index | $ | 100.00 | $ | 115.32 | $ | 138.69 | $ | 160.85 | $ | 160.35 | $ | 189.08 | ||||||||||||
| S&P 500 Information Technology Index | $ | 100.00 | $ | 98.03 | $ | 123.36 | $ | 153.98 | $ | 151.51 | $ | 205.08 | ||||||||||||
| S&P 1500 Technology Hardware & Equipment Index | $ | 100.00 | $ | 84.18 | $ | 113.20 | $ | 147.88 | $ | 119.17 | $ | 176.51 |
We believe that a number of factors may cause the market price of our common stock to fluctuate significantly. See Item 1A. – Risk Factors.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
The following table provides information with respect to the shares of common stock repurchased by us during the three months ended April 28, 2017:
| Total Number of Shares | Approximate Dollar Value | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Number | Average | Purchased as Part of | of Shares That May Yet | |||||||||||||
| of Shares | Price Paid | Publicly Announced | Be Purchased Under The | |||||||||||||
| Period | Purchased | per Share | Program | Repurchase Program | ||||||||||||
| (Shares in thousands) | (Shares in thousands) | (Dollars in millions) | ||||||||||||||
| January 28, 2017 - February 24, 2017 | 345 | $ | 40.56 | 266,103 | $ | 910 | ||||||||||
| February 25, 2017 - March 24, 2017 | 2,770 | $ | 41.87 | 268,873 | $ | 794 | ||||||||||
| March 25, 2017 - April 28, 2017 | — | $ | — | 268,873 | $ | 794 | ||||||||||
| Total | 3,115 | $ | 41.72 |
In May 2003, our Board of Directors approved a stock repurchase program. As of April 28, 2017, our Board of Directors has authorized the repurchase of up to $9.6 billion of our common stock. Since inception of the program through April 28, 2017, we repurchased a total of 269 million shares of our common stock for an aggregate purchase price of $8.8 billion. Under this program, we may purchase shares of our outstanding common stock through open market and privately negotiated transactions at prices deemed appropriate by our management. The stock repurchase program may be suspended or discontinued at any time.
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