Bank of Montreal Can purchased a new stake in shares of Netgear Inc. (NASDAQ:NTGR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 62,139 shares of the company’s stock, valued at approximately $2,954,000.
Other hedge funds have also bought and sold shares of the company. Royal Bank of Canada raised its stake in Netgear by 33.6% in the first quarter. Royal Bank of Canada now owns 3,505 shares of the company’s stock valued at $141,000 after buying an additional 882 shares during the period. Boothbay Fund Management LLC acquired a new stake in Netgear during the first quarter valued at about $212,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Netgear during the first quarter valued at about $216,000. Bayesian Capital Management LP raised its stake in Netgear by 6.6% in the first quarter. Bayesian Capital Management LP now owns 8,123 shares of the company’s stock valued at $328,000 after buying an additional 500 shares during the period. Finally, Hancock Holding Co. acquired a new stake in Netgear during the first quarter valued at about $343,000. 99.37% of the stock is currently owned by institutional investors.
Shares of Netgear Inc. (NASDAQ:NTGR) traded up 1.10% during trading on Monday, hitting $52.35. 218,047 shares of the stock were exchanged. The firm has a 50 day moving average of $57.03 and a 200-day moving average of $49.13. The stock has a market cap of $1.72 billion, a PE ratio of 24.90 and a beta of 1.92. Netgear Inc. has a 52-week low of $31.96 and a 52-week high of $60.82.
Netgear (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.12. The company had revenue of $311.66 million for the quarter, compared to the consensus estimate of $298.87 million. Netgear had a net margin of 5.25% and a return on equity of 12.06%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 earnings per share. Equities research analysts anticipate that Netgear Inc. will post $2.96 earnings per share for the current fiscal year.
A number of analysts recently weighed in on NTGR shares. Zacks Investment Research lowered shares of Netgear from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 29th. Vetr raised shares of Netgear from a “hold” rating to a “buy” rating and set a $60.73 target price on the stock in a report on Tuesday, October 4th. Rosenblatt Securities lowered shares of Netgear from a “buy” rating to a “neutral” rating and set a $47.50 target price on the stock. in a report on Tuesday, July 12th. BWS Financial upped their target price on shares of Netgear from $50.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, Wunderlich upped their target price on shares of Netgear from $58.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, September 8th. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Netgear presently has a consensus rating of “Hold” and an average price target of $53.36.
In related news, SVP Tamesa Rogers sold 650 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $52.25, for a total value of $33,962.50. Following the transaction, the senior vice president now owns 13,525 shares of the company’s stock, valued at $706,681.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Patrick J. Collins III sold 11,061 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $48.91, for a total transaction of $540,993.51. Following the completion of the transaction, the senior vice president now directly owns 20,753 shares in the company, valued at approximately $1,015,029.23. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by corporate insiders.
Netgear Company Profile
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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