US Bancorp DE lifted its position in shares of NetGear, Inc. (NASDAQ:NTGR) by 697.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,491 shares of the communications equipment provider’s stock after purchasing an additional 17,048 shares during the quarter. US Bancorp DE’s holdings in NetGear were worth $1,146,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of NTGR. Bank of New York Mellon Corp raised its position in shares of NetGear by 11.4% during the third quarter. Bank of New York Mellon Corp now owns 1,917,611 shares of the communications equipment provider’s stock worth $91,278,000 after purchasing an additional 196,863 shares during the period. Acadian Asset Management LLC raised its position in NetGear by 1,300.5% in the 4th quarter. Acadian Asset Management LLC now owns 112,696 shares of the communications equipment provider’s stock valued at $6,621,000 after buying an additional 104,649 shares during the last quarter. Dean Investment Associates LLC purchased a new stake in NetGear in the 3rd quarter valued at $3,688,000. Macquarie Group Ltd. raised its position in NetGear by 12.4% in the 3rd quarter. Macquarie Group Ltd. now owns 667,007 shares of the communications equipment provider’s stock valued at $31,750,000 after buying an additional 73,342 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC purchased a new stake in NetGear in the 4th quarter valued at $1,922,000. 97.52% of the stock is currently owned by institutional investors.
A number of research firms recently commented on NTGR. BidaskClub raised NetGear from a “hold” rating to a “buy” rating in a research report on Thursday, December 14th. BWS Financial set a $75.00 price target on NetGear and gave the company a “buy” rating in a research report on Friday, January 12th. Zacks Investment Research raised NetGear from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Finally, Raymond James Financial raised NetGear from a “market perform” rating to an “outperform” rating and set a $62.00 price target for the company in a research report on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $65.20.
Shares of NetGear, Inc. (NASDAQ:NTGR) opened at $60.20 on Wednesday. The company has a market capitalization of $1,923.67, a price-to-earnings ratio of 26.42 and a beta of 1.79. NetGear, Inc. has a 12-month low of $41.50 and a 12-month high of $71.42.
NetGear (NASDAQ:NTGR) last released its quarterly earnings results on Tuesday, February 6th. The communications equipment provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. The business had revenue of $397.06 million during the quarter, compared to analyst estimates of $393.27 million. NetGear had a return on equity of 9.92% and a net margin of 1.38%. NetGear’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 EPS. analysts anticipate that NetGear, Inc. will post 2.71 EPS for the current year.
In other NetGear news, CEO Patrick Cs Lo sold 13,999 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $59.92, for a total value of $838,820.08. Following the completion of the transaction, the chief executive officer now owns 183,125 shares in the company, valued at approximately $10,972,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrew Wonki Kim sold 547 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $60.80, for a total value of $33,257.60. Following the completion of the transaction, the senior vice president now owns 37,792 shares of the company’s stock, valued at approximately $2,297,753.60. The disclosure for this sale can be found here. Insiders sold a total of 67,885 shares of company stock valued at $4,022,520 in the last 90 days. Corporate insiders own 6.20% of the company’s stock.
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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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