Legal & General Group Plc increased its holdings in NetGear, Inc. (NASDAQ:NTGR) by 7.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,101 shares of the communications equipment provider’s stock after purchasing an additional 4,326 shares during the period. Legal & General Group Plc owned approximately 0.19% of NetGear worth $2,677,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Envestnet Asset Management Inc. raised its position in NetGear by 17.1% in the first quarter. Envestnet Asset Management Inc. now owns 2,080 shares of the communications equipment provider’s stock worth $103,000 after purchasing an additional 304 shares in the last quarter. Victory Capital Management Inc. raised its position in NetGear by 42.8% in the first quarter. Victory Capital Management Inc. now owns 2,724 shares of the communications equipment provider’s stock worth $135,000 after purchasing an additional 817 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in NetGear in the first quarter worth about $139,000. US Bancorp DE raised its position in NetGear by 9.2% in the first quarter. US Bancorp DE now owns 3,243 shares of the communications equipment provider’s stock worth $161,000 after purchasing an additional 272 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. raised its position in NetGear by 364.8% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 3,500 shares of the communications equipment provider’s stock worth $173,000 after purchasing an additional 2,747 shares in the last quarter. 98.85% of the stock is owned by hedge funds and other institutional investors.
Shares of NetGear, Inc. (NASDAQ NTGR) opened at 47.75 on Wednesday. The company has a market capitalization of $1.51 billion, a PE ratio of 21.91 and a beta of 1.54. NetGear, Inc. has a 52 week low of $41.50 and a 52 week high of $60.82. The firm’s 50-day moving average is $47.02 and its 200 day moving average is $46.87.
NetGear (NASDAQ:NTGR) last issued its earnings results on Wednesday, July 26th. The communications equipment provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.54 by $0.06. The company had revenue of $330.72 million during the quarter, compared to analysts’ expectations of $324.64 million. NetGear had a net margin of 4.41% and a return on equity of 7.39%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 EPS. On average, analysts anticipate that NetGear, Inc. will post $2.74 earnings per share for the current fiscal year.
In other news, SVP Michael A. Werdann sold 8,153 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $43.01, for a total value of $350,660.53. Following the completion of the transaction, the senior vice president now directly owns 30,092 shares in the company, valued at approximately $1,294,256.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Patrick Cs Lo sold 5,900 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $43.39, for a total transaction of $256,001.00. Following the completion of the transaction, the chairman now owns 179,125 shares of the company’s stock, valued at $7,772,233.75. The disclosure for this sale can be found here. Insiders sold a total of 66,128 shares of company stock valued at $3,065,616 over the last 90 days. Corporate insiders own 6.20% of the company’s stock.
Several research analysts recently issued reports on NTGR shares. Global Equities Research reissued a “buy” rating and issued a $85.00 price target on shares of NetGear in a research report on Tuesday, June 13th. Zacks Investment Research lowered shares of NetGear from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $61.97.
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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