BlackRock Inc. increased its holdings in NetGear, Inc. (NASDAQ:NTGR) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,123,339 shares of the communications equipment provider’s stock after purchasing an additional 11,606 shares during the period. BlackRock Inc. owned approximately 0.13% of NetGear worth $242,246,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp increased its position 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 last quarter. Majedie Asset Management Ltd bought a new position in NetGear during the fourth quarter valued at $10,593,000. First Trust Advisors LP increased its position 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 last quarter. Acadian Asset Management LLC increased its position in NetGear by 1,300.5% during the fourth quarter. Acadian Asset Management LLC now owns 112,696 shares of the communications equipment provider’s stock valued at $6,621,000 after acquiring an additional 104,649 shares during the last quarter. Finally, Dean Investment Associates LLC bought a new position in NetGear during the third quarter valued at $3,688,000. Institutional investors own 97.52% of the company’s stock.
NTGR has been the topic of a number of analyst reports. BidaskClub upgraded shares of NetGear from a “hold” rating to a “buy” rating in a research report on Thursday, December 14th. Raymond James Financial upgraded shares of NetGear from a “market perform” rating to an “outperform” rating and set a $62.00 price objective on the stock in a research report on Monday, December 18th. Zacks Investment Research upgraded shares of NetGear from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Finally, BWS Financial set a $75.00 price objective on shares of NetGear and gave the company a “buy” rating in a research report on Friday, January 12th. One analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $65.20.
In related news, Director Jef Graham bought 500 shares of the stock in a transaction dated Friday, December 15th. The stock was purchased at an average cost of $54.05 per share, with a total value of $27,025.00. Following the completion of the purchase, the director now owns 5,183 shares of the company’s stock, valued at $280,141.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Tamesa Rogers sold 1,500 shares of the business’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $59.40, for a total transaction of $89,100.00. Following the sale, the senior vice president now directly owns 22,542 shares of the company’s stock, valued at $1,338,994.80. The disclosure for this sale can be found here. Insiders have sold 73,279 shares of company stock valued at $4,449,754 over the last three months. Insiders own 6.20% of the company’s stock.
NetGear, Inc. (NTGR) opened at $58.90 on Wednesday. The firm has a market cap of $1,873.46, a price-to-earnings ratio of 111.13 and a beta of 1.93. NetGear, Inc. has a 1 year low of $41.50 and a 1 year high of $71.42.
NetGear (NASDAQ:NTGR) last issued its earnings results on Tuesday, February 6th. The communications equipment provider reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.07. The firm 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 business’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 earnings per share. equities analysts expect that NetGear, Inc. will post 3.26 earnings per share for the current fiscal year.
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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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