Nationwide Fund Advisors lowered its holdings in NetGear, Inc. (NASDAQ:NTGR) by 38.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,501 shares of the communications equipment provider’s stock after selling 14,176 shares during the quarter. Nationwide Fund Advisors owned 0.07% of NetGear worth $1,071,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in NTGR. Dimensional Fund Advisors LP lifted its holdings in NetGear by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,764,602 shares of the communications equipment provider’s stock valued at $119,155,000 after purchasing an additional 66,287 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in NetGear by 28.2% during the second quarter. Alliancebernstein L.P. now owns 1,417,760 shares of the communications equipment provider’s stock valued at $61,105,000 after purchasing an additional 311,735 shares in the last quarter. LSV Asset Management lifted its holdings in NetGear by 3.7% during the second quarter. LSV Asset Management now owns 1,066,653 shares of the communications equipment provider’s stock valued at $45,972,000 after purchasing an additional 38,000 shares in the last quarter. State Street Corp lifted its holdings in NetGear by 1.8% during the second quarter. State Street Corp now owns 842,782 shares of the communications equipment provider’s stock valued at $36,319,000 after purchasing an additional 14,817 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in NetGear by 55.1% during the second quarter. Northern Trust Corp now owns 773,995 shares of the communications equipment provider’s stock valued at $33,359,000 after purchasing an additional 274,952 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.
NetGear, Inc. (NTGR) opened at $65.40 on Friday. NetGear, Inc. has a 12 month low of $41.50 and a 12 month high of $65.55. The company has a market cap of $2,060.00, a P/E ratio of 29.73 and a beta of 1.53.
NetGear (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, October 25th. The communications equipment provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. NetGear had a net margin of 5.33% and a return on equity of 10.57%. The company had revenue of $355.48 million during the quarter, compared to the consensus estimate of $349.36 million. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. analysts anticipate that NetGear, Inc. will post 2.24 earnings per share for the current fiscal year.
Several equities analysts have recently weighed in on NTGR shares. BWS Financial raised shares of NetGear from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Monday, October 9th. BidaskClub raised shares of NetGear from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 21st. Zacks Investment Research upgraded shares of NetGear from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Finally, 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. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $65.20.
In other NetGear news, Director Jef Graham bought 500 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were acquired at an average cost of $54.05 per share, with a total value of $27,025.00. Following the acquisition, the director now directly owns 5,183 shares of the company’s stock, valued at approximately $280,141.15. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael F. Falcon sold 520 shares of NetGear stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $50.00, for a total transaction of $26,000.00. Following the completion of the transaction, the senior vice president now directly owns 34,611 shares in the company, valued at $1,730,550. The disclosure for this sale can be found here. Insiders have sold a total of 82,300 shares of company stock valued at $4,220,161 in the last 90 days. Insiders own 6.20% of the company’s stock.
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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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