Ardsley Advisory Partners purchased a new stake in shares of NetGear, Inc. (NASDAQ:NTGR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,000 shares of the communications equipment provider’s stock, valued at approximately $646,000.
A number of other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in NetGear by 0.3% during the fourth quarter. BlackRock Inc. now owns 4,123,339 shares of the communications equipment provider’s stock valued at $242,246,000 after acquiring an additional 11,606 shares during the period. Bank of New York Mellon Corp boosted its holdings in 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 valued at $91,278,000 after acquiring an additional 196,863 shares during the period. First Trust Advisors LP boosted its holdings in NetGear by 12.2% during the fourth quarter. First Trust Advisors LP now owns 1,167,474 shares of the communications equipment provider’s stock valued at $68,589,000 after acquiring an additional 127,046 shares during the period. Macquarie Group Ltd. boosted its holdings in NetGear by 12.4% during the third quarter. Macquarie Group Ltd. now owns 667,007 shares of the communications equipment provider’s stock valued at $31,750,000 after acquiring an additional 73,342 shares during the period. Finally, Rothschild Asset Management Inc. boosted its holdings in NetGear by 5.4% during the third quarter. Rothschild Asset Management Inc. now owns 580,450 shares of the communications equipment provider’s stock valued at $27,629,000 after acquiring an additional 29,853 shares during the period. Institutional investors own 97.52% of the company’s stock.
A number of equities research analysts have issued reports on NTGR shares. BWS Financial set a $75.00 price target on shares of NetGear and gave the company a “buy” rating in a report on Friday, January 12th. BidaskClub upgraded shares of NetGear from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 21st. Raymond James Financial upgraded shares of NetGear from a “market perform” rating to an “outperform” rating and set a $62.00 price target for the company in a report on Monday, December 18th. Finally, Zacks Investment Research upgraded shares of NetGear from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $65.20.
NetGear, Inc. (NTGR) opened at $60.05 on Tuesday. The company has a market cap of $1,880.00, a PE ratio of 29.01 and a beta of 1.92. NetGear, Inc. has a 52-week low of $41.50 and a 52-week high of $71.42.
NetGear (NASDAQ:NTGR) last announced its quarterly earnings data on Tuesday, February 6th. The communications equipment provider reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate 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 net margin of 1.38% and a return on equity of 9.92%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 earnings per share. equities research analysts predict that NetGear, Inc. will post 3.26 earnings per share for the current fiscal year.
In other news, CEO Patrick Cs Lo sold 13,999 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $59.92, for a total transaction of $838,820.08. Following the completion of the transaction, the chief executive officer now owns 183,125 shares of the company’s stock, valued at $10,972,850. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David John Henry sold 11,979 shares of the company’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $58.00, for a total transaction of $694,782.00. Following the transaction, the senior vice president now directly owns 51,464 shares of the company’s stock, valued at approximately $2,984,912. The disclosure for this sale can be found here. Insiders have sold 73,279 shares of company stock valued at $4,449,754 in the last ninety days. 6.20% of the stock is owned by company insiders.
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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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