Public Employees Retirement System of Ohio raised its position in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,772 shares of the communications equipment provider’s stock after acquiring an additional 135 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.14% of NETGEAR worth $1,930,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of the business. Jennison Associates LLC boosted its position in NETGEAR by 0.6% in the 2nd quarter. Jennison Associates LLC now owns 17,331 shares of the communications equipment provider’s stock worth $747,000 after purchasing an additional 97 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in NETGEAR by 0.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 30,030 shares of the communications equipment provider’s stock worth $1,289,000 after purchasing an additional 150 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in NETGEAR by 2.3% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,350 shares of the communications equipment provider’s stock worth $403,000 after purchasing an additional 210 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in NETGEAR by 17.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,080 shares of the communications equipment provider’s stock worth $103,000 after purchasing an additional 304 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in NETGEAR by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,206 shares of the communications equipment provider’s stock valued at $138,000 after purchasing an additional 482 shares in the last quarter. Institutional investors and hedge funds own 98.49% of the company’s stock.
NETGEAR, Inc. (NTGR) opened at $44.95 on Friday. The firm has a market capitalization of $1.48 billion, a P/E ratio of 18.35 and a beta of 1.50.
NETGEAR (NASDAQ:NTGR) last issued its earnings results on Wednesday, October 25th. The communications equipment provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.68 by $0.13. The company had revenue of $355.48 million during the quarter, compared to analysts’ expectations of $349.36 million. NETGEAR had a net margin of 5.33% and a return on equity of 10.57%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS. research analysts forecast that NETGEAR, Inc. will post 2.24 EPS for the current year.
In other NETGEAR news, Chairman Patrick Cs Lo sold 19,799 shares of NETGEAR stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $45.35, for a total value of $897,884.65. Following the completion of the sale, the chairman now directly owns 183,001 shares of the company’s stock, valued at $8,299,095.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction of $52,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,885 shares of company stock worth $3,954,685. Insiders own 6.20% of the company’s stock.
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Several brokerages have recently issued reports on NTGR. Zacks Investment Research cut NETGEAR from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. BWS Financial raised NETGEAR from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Monday, October 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. NETGEAR currently has an average rating of “Hold” and an average price target of $62.75.
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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