First Trust Advisors LP grew its position in NetGear, Inc. (NASDAQ:NTGR) by 12.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,167,474 shares of the communications equipment provider’s stock after acquiring an additional 127,046 shares during the period. First Trust Advisors LP owned about 3.71% of NetGear worth $68,589,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. California Public Employees Retirement System raised its position in NetGear by 5.8% during the fourth quarter. California Public Employees Retirement System now owns 78,267 shares of the communications equipment provider’s stock worth $4,598,000 after acquiring an additional 4,298 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of NetGear in the fourth quarter valued at approximately $633,000. Majedie Asset Management Ltd acquired a new position in shares of NetGear in the fourth quarter valued at approximately $10,593,000. CIBC Asset Management Inc acquired a new position in shares of NetGear in the fourth quarter valued at approximately $239,000. Finally, US Bancorp DE raised its position in shares of NetGear by 697.8% in the fourth quarter. US Bancorp DE now owns 19,491 shares of the communications equipment provider’s stock valued at $1,146,000 after buying an additional 17,048 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the stock. BidaskClub upgraded shares of NetGear from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 13th. BWS Financial set a $75.00 target price on shares of NetGear and gave the company a “buy” rating in a report on Friday, January 12th. 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, January 10th. Finally, Raymond James Financial upgraded shares of NetGear from a “market perform” rating to an “outperform” rating and set a $62.00 target price for the company in a report on Monday, December 18th. One 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 stock. NetGear presently has a consensus rating of “Buy” and an average target price of $65.20.
NetGear, Inc. (NTGR) remained flat at $$58.70 on Friday. The company had a trading volume of 218,300 shares, compared to its average volume of 597,892. NetGear, Inc. has a fifty-two week low of $41.50 and a fifty-two week high of $71.42. The company has a market capitalization of $1,842.07, a PE ratio of 25.30 and a beta of 1.79.
NetGear (NASDAQ:NTGR) last released its quarterly earnings data on Tuesday, February 6th. The communications equipment provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.07. NetGear had a net margin of 1.38% and a return on equity of 9.92%. The company had revenue of $397.06 million during the quarter, compared to the consensus estimate of $393.27 million. During the same period in the previous year, the firm earned $0.88 earnings per share. NetGear’s revenue for the quarter was up 11.7% on a year-over-year basis. sell-side analysts predict that NetGear, Inc. will post 2.71 EPS for the current fiscal year.
In other NetGear news, SVP Michael F. Falcon sold 1,042 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $51.30, for a total transaction of $53,454.60. Following the completion of the sale, the senior vice president now directly owns 34,612 shares in the company, valued at $1,775,595.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Patrick Cs Lo sold 19,799 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $51.05, for a total transaction of $1,010,738.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,364 shares of company stock valued at $3,996,314. 6.20% of the stock is owned by 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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