Nationwide Fund Advisors boosted its position in Netgear Inc. (NASDAQ:NTGR) by 7.8% during the second quarter, Holdings Channel reports. The fund owned 54,360 shares of the company’s stock after buying an additional 3,926 shares during the period. Nationwide Fund Advisors owned about 0.17% of Netgear worth $2,584,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the company. Renaissance Technologies LLC increased its position in shares of Netgear by 19.6% in the first quarter. Renaissance Technologies LLC now owns 773,900 shares of the company’s stock worth $31,242,000 after buying an additional 127,000 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Netgear by 9.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 970,349 shares of the company’s stock worth $39,173,000 after buying an additional 79,973 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Netgear by 16.9% in the first quarter. Goldman Sachs Group Inc. now owns 225,889 shares of the company’s stock worth $9,119,000 after buying an additional 32,668 shares in the last quarter. Glenmede Trust Co. NA increased its position in shares of Netgear by 6,330.6% in the first quarter. Glenmede Trust Co. NA now owns 11,575 shares of the company’s stock worth $466,000 after buying an additional 11,395 shares in the last quarter. Finally, UBS Group AG increased its position in shares of Netgear by 82.7% in the first quarter. UBS Group AG now owns 36,320 shares of the company’s stock worth $1,466,000 after buying an additional 16,443 shares in the last quarter. Institutional investors own 99.48% of the company’s stock.
Netgear Inc. (NASDAQ:NTGR) traded up 1.10% during midday trading on Monday, hitting $55.84. 40,044 shares of the company’s stock traded hands. The company has a market capitalization of $1.83 billion, a PE ratio of 26.57 and a beta of 1.92. Netgear Inc. has a 52 week low of $31.65 and a 52 week high of $60.82. The company has a 50 day moving average of $57.63 and a 200-day moving average of $48.50.
Netgear (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.12. Netgear had a net margin of 5.25% and a return on equity of 12.06%. The company earned $311.66 million during the quarter, compared to the consensus estimate of $298.87 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts predict that Netgear Inc. will post $2.96 earnings per share for the current year.
A number of equities analysts have recently issued reports on the stock. Vetr upgraded shares of Netgear from a “hold” rating to a “buy” rating and set a $60.73 price target for the company in a report on Tuesday, October 4th. BWS Financial downgraded shares of Netgear from a “buy” rating to a “hold” rating and cut their price target for the company from $64.00 to $60.00 in a report on Monday, October 3rd. Rosenblatt Securities reiterated a “neutral” rating and issued a $61.00 price target (up previously from $55.00) on shares of Netgear in a report on Wednesday, September 28th. Zacks Investment Research downgraded shares of Netgear from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 28th. Finally, Wunderlich increased their price target on shares of Netgear from $58.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, September 8th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $53.36.
In related news, SVP Michael F. Falcon sold 521 shares of Netgear stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $49.75, for a total transaction of $25,919.75. Following the sale, the senior vice president now directly owns 35,870 shares in the company, valued at $1,784,532.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Andrew Wonki Kim sold 665 shares of Netgear stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $55.48, for a total transaction of $36,894.20. Following the sale, the senior vice president now owns 19,835 shares in the company, valued at $1,100,445.80. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.
NETGEAR, Inc is a global networking company. The Company’s product line consists of devices, such as network attached storage, Internet protocol security cameras, and home automation devices and services. Its segments include retail, commercial and service provider. The retail business unit consists of home networking, home video security, storage and digital media products.
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