Ameriprise Financial Inc. Reduces Stake in NetGear, Inc. (NASDAQ:NTGR)

Ameriprise Financial Inc. cut its stake in shares of NetGear, Inc. (NASDAQ:NTGR) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 226,576 shares of the communications equipment provider’s stock after selling 2,108 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.72% of NetGear worth $10,785,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NTGR. Royce & Associates LP boosted its stake in NetGear by 43,220.6% during the second quarter. Royce & Associates LP now owns 779,771 shares of the communications equipment provider’s stock worth $33,608,000 after acquiring an additional 777,971 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in NetGear by 33.3% during the second quarter. Bank of New York Mellon Corp now owns 1,720,748 shares of the communications equipment provider’s stock worth $74,165,000 after buying an additional 429,429 shares during the last quarter. Alliancebernstein L.P. raised its holdings in NetGear by 28.2% during the second quarter. Alliancebernstein L.P. now owns 1,417,760 shares of the communications equipment provider’s stock worth $61,105,000 after buying an additional 311,735 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in NetGear during the second quarter worth $12,722,000. Finally, Northern Trust Corp raised its holdings in NetGear by 55.1% during the second quarter. Northern Trust Corp now owns 773,995 shares of the communications equipment provider’s stock worth $33,359,000 after buying an additional 274,952 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Shares of NetGear, Inc. (NASDAQ:NTGR) traded up $1.90 during trading hours on Thursday, reaching $63.45. 623,230 shares of the company’s stock were exchanged, compared to its average volume of 508,154. NetGear, Inc. has a 12-month low of $41.50 and a 12-month high of $63.60. The company has a market capitalization of $2,000.00, a price-to-earnings ratio of 28.84 and a beta of 1.53.

NetGear (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, October 25th. The communications equipment provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. NetGear had a net margin of 5.33% and a return on equity of 10.57%. The company had revenue of $355.48 million during the quarter, compared to analyst estimates of $349.36 million. During the same period last year, the business earned $0.76 earnings per share. NetGear’s revenue was up 5.0% compared to the same quarter last year. analysts anticipate that NetGear, Inc. will post 2.24 earnings per share for the current fiscal year.

In other NetGear news, SVP Michael F. Falcon sold 520 shares of NetGear stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $50.00, for a total transaction of $26,000.00. Following the transaction, the senior vice president now directly owns 34,611 shares of the company’s stock, valued at $1,730,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark G. Merrill sold 3,000 shares of NetGear stock in a transaction on Monday, October 16th. The stock was sold at an average price of $50.70, for a total transaction of $152,100.00. Following the completion of the transaction, the insider now directly owns 32,534 shares in the company, valued at $1,649,473.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,550 shares of company stock valued at $4,175,086. 6.20% of the stock is currently owned by company insiders.

Several brokerages have recently commented on NTGR. Zacks Investment Research upgraded shares of NetGear from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a report on Wednesday. BidaskClub downgraded shares of NetGear from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 27th. BWS Financial upgraded shares of NetGear from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Monday, October 9th. Finally, Raymond James Financial upgraded shares of NetGear from a “market perform” rating to an “outperform” rating and set a $62.00 price objective for the company in a report on Monday, December 18th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $62.20.

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NetGear Company Profile

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.

Institutional Ownership by Quarter for NetGear (NASDAQ:NTGR)

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