Voya Investment Management LLC grew its position in NETGEAR, Inc. (NASDAQ:NTGR) by 46.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,895 shares of the communications equipment provider’s stock after acquiring an additional 14,151 shares during the period. Voya Investment Management LLC owned about 0.14% of NETGEAR worth $1,935,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brandes Investment Partners LP bought a new position in shares of NETGEAR in the 2nd quarter valued at about $2,293,000. SG Americas Securities LLC grew its position in shares of NETGEAR by 55.0% in the 1st quarter. SG Americas Securities LLC now owns 7,646 shares of the communications equipment provider’s stock valued at $379,000 after acquiring an additional 2,714 shares during the period. Eaton Vance Management grew its position in shares of NETGEAR by 193.6% in the 2nd quarter. Eaton Vance Management now owns 271,238 shares of the communications equipment provider’s stock valued at $11,690,000 after acquiring an additional 178,855 shares during the period. Alliancebernstein L.P. grew its position in shares of NETGEAR by 28.2% in the 2nd quarter. Alliancebernstein L.P. now owns 1,417,760 shares of the communications equipment provider’s stock valued at $61,105,000 after acquiring an additional 311,735 shares during the period. Finally, Morgan Stanley lifted its stake in shares of NETGEAR by 62.8% during the 1st quarter. Morgan Stanley now owns 298,144 shares of the communications equipment provider’s stock worth $14,772,000 after buying an additional 115,015 shares during the last quarter. 98.85% of the stock is owned by institutional investors.
In other NETGEAR news, SVP Tamesa Rogers sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $47.35, for a total transaction of $71,025.00. Following the transaction, the senior vice president now directly owns 22,703 shares in the company, valued at $1,074,987.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Patrick Cs Lo sold 9,900 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $47.83, for a total transaction of $473,517.00. Following the transaction, the chairman now owns 183,125 shares in the company, valued at $8,758,868.75. The disclosure for this sale can be found here. Insiders sold 74,028 shares of company stock worth $3,580,177 over the last ninety days. 6.20% of the stock is currently owned by insiders.
A number of research firms have recently issued reports on NTGR. Zacks Investment Research cut shares of NETGEAR from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. BWS Financial upgraded shares of NETGEAR from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Monday, October 9th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. NETGEAR presently has a consensus rating of “Hold” and a consensus price target of $62.75.
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Shares of NETGEAR, Inc. (NTGR) opened at 47.10 on Friday. The stock’s 50 day moving average is $48.77 and its 200-day moving average is $46.51. The firm has a market cap of $1.49 billion, a PE ratio of 21.62 and a beta of 1.53. NETGEAR, Inc. has a 1-year low of $41.50 and a 1-year high of $59.93.
NETGEAR (NASDAQ:NTGR) last announced its earnings results on Wednesday, October 25th. The communications equipment provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. The business had revenue of $355.48 million for the quarter, compared to the consensus estimate of $349.36 million. NETGEAR had a net margin of 5.33% and a return on equity of 10.57%. NETGEAR’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm posted $0.76 earnings per share. Analysts expect that NETGEAR, Inc. will post $2.73 earnings per share for the current year.
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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