Lucus Advisors LLC bought a new position in Netgear Inc. (NASDAQ:NTGR) during the second quarter, Holdings Channel reports. The firm bought 7,397 shares of the company’s stock, valued at approximately $352,000.
A number of other hedge funds also recently bought and sold shares of the company. Hancock Holding Co. bought a new stake in Netgear during the first quarter worth $343,000. Goldman Sachs Group Inc. raised its stake in 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. UBS Group AG raised its stake in 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. Landscape Capital Management L.L.C. raised its stake in Netgear by 89.4% in the first quarter. Landscape Capital Management L.L.C. now owns 23,300 shares of the company’s stock worth $941,000 after buying an additional 11,000 shares in the last quarter. Finally, Acrospire Investment Management LLC bought a new stake in Netgear during the first quarter worth $174,000. Institutional investors own 99.48% of the company’s stock.
Shares of Netgear Inc. (NASDAQ:NTGR) traded down 0.50% during trading on Thursday, reaching $59.54. The company had a trading volume of 243,335 shares. The firm has a 50-day moving average of $57.41 and a 200 day moving average of $47.78. Netgear Inc. has a 1-year low of $28.52 and a 1-year high of $60.82. The firm has a market capitalization of $1.95 billion, a PE ratio of 28.33 and a beta of 1.84.
Netgear (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.12. The business earned $311.66 million during 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 company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 earnings per share. Analysts expect that Netgear Inc. will post $2.96 earnings per share for the current year.
A number of analysts have weighed in on the company. Rosenblatt Securities restated a “neutral” rating and set a $61.00 target price (up previously from $55.00) on shares of Netgear in a report on Wednesday. Zacks Investment Research lowered Netgear from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Vetr upgraded Netgear from a “hold” rating to a “buy” rating and set a $61.09 price objective for the company in a report on Wednesday, September 21st. Wunderlich increased their price objective on Netgear from $58.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, September 8th. Finally, Citigroup Inc. lowered Netgear to a “neutral” rating and set a $47.50 price objective for the company. in a report on Tuesday, July 12th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $53.84.
In other Netgear news, CEO Patrick Cs Lo sold 8,300 shares of the business’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $47.08, for a total value of $390,764.00. Following the completion of the transaction, the chief executive officer now owns 147,497 shares in the company, valued at $6,944,158.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael F. Falcon sold 521 shares of the business’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $57.93, for a total transaction of $30,181.53. Following the completion of the transaction, the senior vice president now owns 35,870 shares of the company’s stock, valued at approximately $2,077,949.10. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by company 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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