Chicago Equity Partners LLC purchased a new position in Netgear (NASDAQ:NTGR) during the first quarter, Holdings Channel reports. The institutional investor purchased 10,950 shares of the communications equipment provider’s stock, valued at approximately $626,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of NTGR. Advisory Services Network LLC lifted its position in shares of Netgear by 10,500.0% in the 4th quarter. Advisory Services Network LLC now owns 2,014 shares of the communications equipment provider’s stock worth $118,000 after purchasing an additional 1,995 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Netgear by 126.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,378 shares of the communications equipment provider’s stock worth $140,000 after purchasing an additional 1,330 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Netgear by 44.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,858 shares of the communications equipment provider’s stock worth $168,000 after purchasing an additional 884 shares during the period. Delpha Capital Management LLC acquired a new position in shares of Netgear in the 4th quarter worth approximately $186,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of Netgear in the 4th quarter worth approximately $215,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.
A number of research analysts have recently issued reports on NTGR shares. Guggenheim restated a “buy” rating and issued a $76.00 price target on shares of Netgear in a research report on Friday, April 27th. ValuEngine upgraded shares of Netgear from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, Zacks Investment Research downgraded shares of Netgear from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Netgear has a consensus rating of “Buy” and an average target price of $73.20.
NASDAQ:NTGR opened at $60.10 on Monday. The firm has a market capitalization of $1.90 billion, a PE ratio of 28.08 and a beta of 1.94. Netgear has a twelve month low of $41.50 and a twelve month high of $71.42.
Netgear (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, April 25th. The communications equipment provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. The company had revenue of $345.00 million during the quarter, compared to analyst estimates of $342.58 million. Netgear had a net margin of 0.63% and a return on equity of 9.63%. Netgear’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 EPS. analysts expect that Netgear will post 2.64 earnings per share for the current fiscal year.
In other news, CEO Patrick Cs Lo sold 13,999 shares of Netgear stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $54.93, for a total value of $768,965.07. Following the completion of the sale, the chief executive officer now owns 221,607 shares in the company, valued at approximately $12,172,872.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael F. Falcon sold 520 shares of Netgear stock in a transaction on Tuesday, April 24th. The shares were sold at an average price of $62.20, for a total transaction of $32,344.00. Following the completion of the sale, the senior vice president now owns 43,402 shares of the company’s stock, valued at approximately $2,699,604.40. The disclosure for this sale can be found here. Insiders sold a total of 64,232 shares of company stock valued at $3,593,792 in the last quarter. 5.10% of the stock is currently owned by company insiders.
NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. The company operates in three segments: Arlo, Connected Home, and Small and Medium Business. It offers smart home/connected home/broadband access products, such as remote video security systems, broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, and WiFi network adapters.
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