American Century Companies Inc. raised its stake in NetGear, Inc. (NASDAQ:NTGR) by 4.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 138,500 shares of the communications equipment provider’s stock after buying an additional 5,913 shares during the period. American Century Companies Inc. owned approximately 0.42% of NetGear worth $6,863,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. FMR LLC boosted its stake in NetGear by 34.2% in the fourth quarter. FMR LLC now owns 2,279,258 shares of the communications equipment provider’s stock valued at $123,878,000 after buying an additional 580,422 shares during the last quarter. Norges Bank acquired a new stake in NetGear during the fourth quarter valued at $30,149,000. Russell Investments Group Ltd. acquired a new stake in NetGear during the fourth quarter valued at $11,136,000. Panagora Asset Management Inc. boosted its stake in NetGear by 1,067.7% in the third quarter. Panagora Asset Management Inc. now owns 222,605 shares of the communications equipment provider’s stock valued at $13,465,000 after buying an additional 203,542 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in NetGear by 33.5% in the first quarter. Wells Fargo & Company MN now owns 715,202 shares of the communications equipment provider’s stock valued at $35,438,000 after buying an additional 179,283 shares during the last quarter. Hedge funds and other institutional investors own 98.73% of the company’s stock.
NetGear, Inc. (NASDAQ:NTGR) opened at 42.95 on Thursday. The company has a market capitalization of $1.39 billion, a PE ratio of 19.36 and a beta of 1.62. The stock has a 50 day moving average price of $47.18 and a 200-day moving average price of $52.38. NetGear, Inc. has a 52 week low of $41.85 and a 52 week high of $60.82.
NetGear (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, April 26th. The communications equipment provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. NetGear had a net margin of 5.71% and a return on equity of 12.00%. The company had revenue of $323.70 million during the quarter, compared to the consensus estimate of $309.48 million. During the same period in the previous year, the firm posted $0.74 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. On average, equities analysts predict that NetGear, Inc. will post $2.65 earnings per share for the current fiscal year.
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NTGR has been the subject of several recent analyst reports. Off Wall Street restated a “sell” rating and set a $36.00 target price on shares of NetGear in a research note on Monday, March 27th. Zacks Investment Research cut NetGear from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 3rd. Finally, Raymond James Financial, Inc. restated a “market perform” rating on shares of NetGear in a research note on Wednesday, February 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. NetGear currently has an average rating of “Hold” and a consensus price target of $57.79.
In other NetGear news, Chairman Patrick Cs Lo sold 9,900 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $55.02, for a total value of $544,698.00. Following the completion of the sale, the chairman now directly owns 158,883 shares of the company’s stock, valued at $8,741,742.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tamesa Rogers sold 5,000 shares of the business’s stock in a transaction on Monday, April 10th. The stock was sold at an average price of $49.10, for a total transaction of $245,500.00. Following the completion of the sale, the senior vice president now directly owns 18,331 shares of the company’s stock, valued at $900,052.10. The disclosure for this sale can be found here. Insiders have sold a total of 57,810 shares of company stock valued at $2,899,129 over the last ninety days. 5.40% of the stock is currently owned by insiders.
NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.
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