Allianz Asset Management GmbH decreased its holdings in NetGear, Inc. (NASDAQ:NTGR) by 88.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,226 shares of the communications equipment provider’s stock after selling 47,289 shares during the quarter. Allianz Asset Management GmbH’s holdings in NetGear were worth $356,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Teacher Retirement System of Texas acquired a new position in NetGear in the fourth quarter valued at $633,000. California Public Employees Retirement System lifted its holdings in NetGear by 5.8% in the fourth quarter. California Public Employees Retirement System now owns 78,267 shares of the communications equipment provider’s stock valued at $4,598,000 after buying an additional 4,298 shares during the period. Rhumbline Advisers lifted its holdings in NetGear by 14.4% in the fourth quarter. Rhumbline Advisers now owns 78,097 shares of the communications equipment provider’s stock valued at $4,588,000 after buying an additional 9,847 shares during the period. BlackRock Inc. lifted its holdings in NetGear by 0.3% in the fourth quarter. BlackRock Inc. now owns 4,123,339 shares of the communications equipment provider’s stock valued at $242,246,000 after buying an additional 11,606 shares during the period. Finally, Mackenzie Financial Corp acquired a new position in NetGear in the fourth quarter valued at $2,215,000. 97.52% of the stock is currently owned by institutional investors.
Shares of NASDAQ NTGR opened at $67.80 on Friday. NetGear, Inc. has a 1-year low of $43.10 and a 1-year high of $71.42. The stock has a market cap of $2.06 billion, a PE ratio of 28.32 and a beta of 1.90.
NetGear (NASDAQ:NTGR) last announced 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. NetGear had a net margin of 0.63% and a return on equity of 9.63%. The firm had revenue of $345.00 million for the quarter, compared to analyst estimates of $342.58 million. During the same quarter in the prior year, the business earned $0.64 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. sell-side analysts forecast that NetGear, Inc. will post 2.64 EPS for the current fiscal year.
In related news, SVP Michael F. Falcon sold 520 shares of the company’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $62.05, for a total value of $32,266.00. Following the sale, the senior vice president now owns 40,805 shares in the company, valued at approximately $2,531,950.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Patrick Cs Lo sold 13,999 shares of the company’s stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $55.12, for a total transaction of $771,624.88. Following the completion of the sale, the chairman now owns 218,435 shares in the company, valued at approximately $12,040,137.20. The disclosure for this sale can be found here. Insiders sold a total of 49,719 shares of company stock worth $2,952,802 in the last 90 days. 5.10% of the stock is currently owned by company insiders.
Several equities analysts recently issued reports on NTGR shares. Zacks Investment Research lowered shares of NetGear from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Guggenheim reiterated a “buy” rating and set a $76.00 price objective on shares of NetGear in a report on Friday, April 27th. ValuEngine upgraded shares of NetGear from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, BidaskClub lowered shares of NetGear from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 26th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $70.25.
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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