Amalgamated Bank Invests $207,000 in NETGEAR, Inc. (NTGR) Stock

Amalgamated Bank purchased a new stake in NETGEAR, Inc. (NASDAQ:NTGR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,348 shares of the communications equipment provider’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NTGR. Royce & Associates LP lifted its stake in NETGEAR by 43,220.6% in the second quarter. Royce & Associates LP now owns 779,771 shares of the communications equipment provider’s stock valued at $33,608,000 after buying an additional 777,971 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in NETGEAR by 33.3% in the second quarter. Bank of New York Mellon Corp now owns 1,720,748 shares of the communications equipment provider’s stock valued at $74,165,000 after buying an additional 429,429 shares in the last quarter. Alliancebernstein L.P. lifted its stake in NETGEAR by 28.2% in 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 buying an additional 311,735 shares in the last quarter. Marshall Wace North America L.P. bought a new position in NETGEAR in the second quarter valued at approximately $12,722,000. Finally, First Trust Advisors LP lifted its stake in NETGEAR by 34.5% in the second quarter. First Trust Advisors LP now owns 1,154,306 shares of the communications equipment provider’s stock valued at $49,751,000 after buying an additional 295,823 shares in the last quarter. 97.50% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently commented on NTGR. BWS Financial raised shares of NETGEAR from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Monday, October 9th. Zacks Investment Research lowered shares of NETGEAR from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.75.

In related news, SVP Michael F. Falcon sold 521 shares of the business’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $50.30, for a total transaction of $26,206.30. Following the transaction, the senior vice president now directly owns 34,612 shares in the company, valued at $1,740,983.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael F. Falcon sold 520 shares of the business’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $50.00, for a total transaction of $26,000.00. Following the transaction, the senior vice president now owns 34,611 shares in the company, valued at $1,730,550. The disclosure for this sale can be found here. In the last three months, insiders sold 82,339 shares of company stock worth $3,946,085. 6.20% of the stock is currently owned by insiders.

Shares of NETGEAR, Inc. (NASDAQ NTGR) opened at $51.10 on Monday. The company has a market cap of $1,610.00, a price-to-earnings ratio of 20.52 and a beta of 1.52. NETGEAR, Inc. has a 1 year low of $41.50 and a 1 year high of $59.92.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings data on Wednesday, October 25th. The communications equipment provider reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.13. The business had revenue of $355.48 million for the quarter, compared to analyst estimates of $349.36 million. NETGEAR had a net margin of 5.33% and a return on equity of 10.57%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 earnings per share. equities analysts anticipate that NETGEAR, Inc. will post 2.24 earnings per share for the current fiscal year.

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NETGEAR Company Profile

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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