NETGEAR, Inc. (NTGR) Shares Bought by Northern Trust Corp

Northern Trust Corp grew its stake in NETGEAR, Inc. (NASDAQ:NTGR) by 55.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 773,995 shares of the communications equipment provider’s stock after buying an additional 274,952 shares during the period. Northern Trust Corp owned 2.39% of NETGEAR worth $33,359,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its holdings in shares of NETGEAR by 17.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,080 shares of the communications equipment provider’s stock valued at $103,000 after buying an additional 304 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of NETGEAR by 42.8% in the 1st quarter. Victory Capital Management Inc. now owns 2,724 shares of the communications equipment provider’s stock valued at $135,000 after buying an additional 817 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of NETGEAR in the 1st quarter valued at $139,000. US Bancorp DE boosted its holdings in shares of NETGEAR by 9.2% in the 1st quarter. US Bancorp DE now owns 3,243 shares of the communications equipment provider’s stock valued at $161,000 after buying an additional 272 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of NETGEAR by 364.8% in the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 3,500 shares of the communications equipment provider’s stock valued at $173,000 after buying an additional 2,747 shares in the last quarter. Institutional investors and hedge funds own 98.89% of the company’s stock.

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Shares of NETGEAR, Inc. (NASDAQ NTGR) opened at 50.00 on Tuesday. NETGEAR, Inc. has a 52-week low of $41.50 and a 52-week high of $59.92. The stock has a market cap of $1.58 billion, a P/E ratio of 22.95 and a beta of 1.53. The company has a 50-day moving average of $48.44 and a 200 day moving average of $46.46.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, July 26th. The communications equipment provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.06. The firm had revenue of $330.72 million during the quarter, compared to the consensus estimate of $324.64 million. NETGEAR had a net margin of 5.42% and a return on equity of 10.67%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.72 earnings per share. Equities research analysts forecast that NETGEAR, Inc. will post $2.73 EPS for the current fiscal year.

In other NETGEAR news, Director Barbara Vaughn Scherer sold 1,000 shares of NETGEAR stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $52.00, for a total value of $52,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David John Henry sold 4,694 shares of NETGEAR stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $50.00, for a total transaction of $234,700.00. Following the completion of the transaction, the senior vice president now directly owns 34,651 shares of the company’s stock, valued at approximately $1,732,550. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,722 shares of company stock valued at $4,260,177. 6.20% of the stock is currently owned by corporate insiders.

Several brokerages have recently issued reports on NTGR. Zacks Investment Research cut shares of NETGEAR from a “hold” rating to a “sell” rating in a report on Friday. BWS Financial upgraded shares of NETGEAR from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Monday, October 9th. T

Other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its holdings in shares of NETGEAR by 17.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,080 shares of the communications equipment provider’s stock valued at $103,000 after buying an additional 304 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of NETGEAR by 42.8% in the 1st quarter. Victory Capital Management Inc. now owns 2,724 shares of the communications equipment provider’s stock valued at $135,000 after buying an additional 817 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of NETGEAR in the 1st quarter valued at $139,000. US Bancorp DE boosted its holdings in shares of NETGEAR by 9.2% in the 1st quarter. US Bancorp DE now owns 3,243 shares of the communications equipment provider’s stock valued at $161,000 after buying an additional 272 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of NETGEAR by 364.8% in the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 3,500 shares of the communications equipment provider’s stock valued at $173,000 after buying an additional 2,747 shares in the last quarter. Institutional investors and hedge funds own 98.89% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This piece was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another site, it was illegally stolen and reposted in violation of U.S. and international copyright law. The legal version of this piece can be read at https://ledgergazette.com/2017/10/17/netgear-inc-ntgr-shares-bought-by-northern-trust-corp.html.

Shares of NETGEAR, Inc. (NASDAQ NTGR) opened at 50.00 on Tuesday. NETGEAR, Inc. has a 52-week low of $41.50 and a 52-week high of $59.92. The stock has a market cap of $1.58 billion, a P/E ratio of 22.95 and a beta of 1.53. The company has a 50-day moving average of $48.44 and a 200 day moving average of $46.46.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, July 26th. The communications equipment provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.06. The firm had revenue of $330.72 million during the quarter, compared to the consensus estimate of $324.64 million. NETGEAR had a net margin of 5.42% and a return on equity of 10.67%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.72 earnings per share. Equities research analysts forecast that NETGEAR, Inc. will post $2.73 EPS for the current fiscal year.

In other NETGEAR news, Director Barbara Vaughn Scherer sold 1,000 shares of NETGEAR stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $52.00, for a total value of $52,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David John Henry sold 4,694 shares of NETGEAR stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $50.00, for a total transaction of $234,700.00. Following the completion of the transaction, the senior vice president now directly owns 34,651 shares of the company’s stock, valued at approximately $1,732,550. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,722 shares of company stock valued at $4,260,177. 6.20% of the stock is currently owned by corporate insiders.

Several brokerages have recently issued reports on NTGR. Zacks Investment Research cut shares of NETGEAR from a “hold” rating to a “sell” rating in a report on Friday. BWS Financial upgraded shares of NETGEAR from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $62.13.

About NETGEAR

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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Institutional Ownership by Quarter for NETGEAR (NASDAQ:NTGR)

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