Wedge Capital Management L L P NC increased its stake in Netgear Inc. (NASDAQ:NTGR) by 577.6% during the second quarter, Holdings Channel reports. The firm owned 91,500 shares of the company’s stock after buying an additional 77,997 shares during the period. Wedge Capital Management L L P NC’s holdings in Netgear were worth $914,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NTGR. Royal Bank of Canada raised its position in shares of 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 bought a new position in shares of Netgear during the first quarter valued at $212,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Netgear during the first quarter valued at $216,000. Bayesian Capital Management LP raised its position in shares of 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. bought a new position in shares of Netgear during the first quarter valued at $343,000. 99.37% of the stock is owned by institutional investors.
Shares of Netgear Inc. (NASDAQ:NTGR) traded up 0.716% during mid-day trading on Tuesday, reaching $52.725. 137,813 shares of the company traded hands. The company has a market capitalization of $1.73 billion, a P/E ratio of 25.083 and a beta of 1.92. Netgear Inc. has a 52-week low of $31.96 and a 52-week high of $60.82. The firm’s 50 day moving average price is $57.03 and its 200-day moving average price is $49.13.
Netgear (NASDAQ:NTGR) last posted its earnings results on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.60 by $0.12. Netgear had a return on equity of 12.06% and a net margin of 5.25%. The company had revenue of $311.66 million for the quarter, compared to the consensus estimate of $298.87 million. During the same quarter in the prior year, the business earned $0.29 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts predict that Netgear Inc. will post $2.96 earnings per share for the current fiscal year.
Several research analysts have weighed in on NTGR shares. BWS Financial increased their target price on shares of Netgear from $50.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Vetr raised shares of Netgear from a “sell” rating to a “buy” rating and set a $59.59 target price for the company in a research note on Tuesday, September 13th. Wunderlich increased their target price on shares of Netgear from $58.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, September 8th. Zacks Investment Research lowered shares of Netgear from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $61.00 price objective (up previously from $55.00) on shares of Netgear in a research note on Wednesday, September 28th. Six research 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 stock. The stock has a consensus rating of “Hold” and an average price target of $53.36.
In other news, SVP Michael F. Falcon sold 1,042 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $59.63, for a total value of $62,134.46. Following the transaction, the senior vice president now owns 35,870 shares of the company’s stock, valued at $2,138,928.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christine Marie Gorjanc sold 4,306 shares of the company’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $50.03, for a total value of $215,429.18. Following the completion of the transaction, the chief financial officer now directly owns 78,710 shares in the company, valued at approximately $3,937,861.30. The disclosure for this sale can be found here. 5.40% of the stock is owned by insiders.
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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