Vident Investment Advisory LLC boosted its stake in NetGear, Inc. (NASDAQ:NTGR) by 1.5% in the second quarter, Holdings Channel reports. The institutional investor owned 49,908 shares of the communications equipment provider’s stock after buying an additional 747 shares during the quarter. Vident Investment Advisory LLC’s holdings in NetGear were worth $3,119,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTGR. Macquarie Group Ltd. boosted its position in shares of NetGear by 1.6% during the 2nd quarter. Macquarie Group Ltd. now owns 699,102 shares of the communications equipment provider’s stock valued at $43,694,000 after acquiring an additional 10,954 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of NetGear during the 2nd quarter valued at about $349,000. Laurion Capital Management LP boosted its position in shares of NetGear by 169.3% during the 2nd quarter. Laurion Capital Management LP now owns 18,800 shares of the communications equipment provider’s stock valued at $1,175,000 after acquiring an additional 11,820 shares during the last quarter. BlueMountain Capital Management LLC bought a new stake in shares of NetGear during the 2nd quarter valued at about $366,000. Finally, Federated Investors Inc. PA boosted its position in shares of NetGear by 22.8% during the 2nd quarter. Federated Investors Inc. PA now owns 185,481 shares of the communications equipment provider’s stock valued at $11,593,000 after acquiring an additional 34,429 shares during the last quarter.
A number of analysts have recently issued reports on NTGR shares. BWS Financial set a $65.00 price target on NetGear and gave the company a “buy” rating in a research report on Friday, August 3rd. Guggenheim reiterated a “buy” rating on shares of NetGear in a research report on Tuesday, August 28th. Zacks Investment Research upgraded NetGear from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 27th. BidaskClub upgraded NetGear from a “hold” rating to a “buy” rating in a research report on Saturday, August 11th. Finally, ValuEngine downgraded NetGear from a “buy” rating to a “hold” rating in a research report on Friday, September 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $72.25.
NetGear (NASDAQ:NTGR) last announced its quarterly earnings data on Monday, July 23rd. The communications equipment provider reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.06. The company had revenue of $366.80 million for the quarter, compared to analysts’ expectations of $350.60 million. NetGear had a positive return on equity of 9.97% and a negative net margin of 0.74%. NetGear’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted $0.60 EPS. research analysts anticipate that NetGear, Inc. will post 1.52 earnings per share for the current year.
In related news, SVP Michael A. Werdann sold 10,930 shares of the firm’s stock in a transaction dated Tuesday, July 10th. The stock was sold at an average price of $70.78, for a total transaction of $773,625.40. Following the transaction, the senior vice president now directly owns 34,727 shares of the company’s stock, valued at approximately $2,457,977.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Patrick Cs Lo sold 13,999 shares of the firm’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $63.45, for a total value of $888,236.55. Following the transaction, the chairman now directly owns 203,279 shares in the company, valued at $12,898,052.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,302 shares of company stock worth $3,889,032. 5.10% of the stock is currently owned by insiders.
NetGear Company Profile
NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. The company operates in three segments: Arlo, Connected Home, and Small and Medium Business. It offers smart home/connected home/broadband access products, such as remote video security systems, broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, and WiFi network adapters.
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