OppenheimerFunds Inc. decreased its holdings in shares of Netgear (NASDAQ:NTGR) by 15.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,944 shares of the communications equipment provider’s stock after selling 3,189 shares during the period. OppenheimerFunds Inc. owned approximately 0.05% of Netgear worth $996,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Advisory Services Network LLC boosted its position in shares of Netgear by 10,500.0% during the 4th quarter. Advisory Services Network LLC now owns 2,014 shares of the communications equipment provider’s stock valued at $118,000 after purchasing an additional 1,995 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Netgear by 126.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,378 shares of the communications equipment provider’s stock valued at $140,000 after purchasing an additional 1,330 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new position in shares of Netgear during the 4th quarter valued at about $215,000. CIBC Asset Management Inc bought a new position in shares of Netgear during the 4th quarter valued at about $239,000. Finally, Amalgamated Bank bought a new position in shares of Netgear during the 3rd quarter valued at about $207,000. Institutional investors own 97.52% of the company’s stock.
In other Netgear news, SVP Patrick J. Collins III sold 834 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $57.20, for a total value of $47,704.80. Following the completion of the transaction, the senior vice president now directly owns 20,641 shares in the company, valued at $1,180,665.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Patrick Cs Lo sold 13,999 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $54.93, for a total transaction of $768,965.07. Following the completion of the transaction, the chief executive officer now owns 221,607 shares of the company’s stock, valued at $12,172,872.51. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,279 shares of company stock valued at $4,287,604. Corporate insiders own 6.20% of the company’s stock.
Several research firms have recently weighed in on NTGR. Zacks Investment Research upgraded shares of Netgear from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Wednesday, January 10th. BidaskClub upgraded shares of Netgear from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 13th. Raymond James Financial upgraded shares of Netgear from a “market perform” rating to an “outperform” rating and set a $62.00 price objective for the company in a research report on Monday, December 18th. 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 equities research 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’s stock. The stock has an average rating of “Buy” and a consensus price target of $65.20.
Netgear (NASDAQ NTGR) opened at $59.15 on Friday. Netgear has a fifty-two week low of $41.50 and a fifty-two week high of $71.42. The company has a market cap of $1,849.92, a PE ratio of 25.41 and a beta of 1.93.
Netgear (NASDAQ:NTGR) last announced its earnings results on Tuesday, February 6th. The communications equipment provider reported $0.71 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 analysts’ expectations of $393.27 million. During the same period last year, the company posted $0.88 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. equities research analysts expect that Netgear will post 3.26 EPS for the current fiscal year.
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Netgear Company Profile
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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