Algert Global LLC decreased its stake in Netgear Inc. (NASDAQ:NTGR) by 1.4% during the third quarter, Holdings Channel reports. The fund owned 31,197 shares of the company’s stock after selling 445 shares during the period. Algert Global LLC’s holdings in Netgear were worth $1,887,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA boosted its stake in Netgear by 6,330.6% in the first quarter. Glenmede Trust Co. NA now owns 11,575 shares of the company’s stock valued at $466,000 after buying an additional 11,395 shares during the last quarter. Aperio Group LLC boosted its stake in Netgear by 5.7% in the first quarter. Aperio Group LLC now owns 8,871 shares of the company’s stock valued at $358,000 after buying an additional 476 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Netgear during the first quarter valued at $216,000. TIAA CREF Investment Management LLC boosted its stake in Netgear by 5.8% in the first quarter. TIAA CREF Investment Management LLC now owns 231,418 shares of the company’s stock valued at $9,342,000 after buying an additional 12,748 shares during the last quarter. Finally, Teachers Advisors Inc. boosted its stake in Netgear by 31.1% in the first quarter. Teachers Advisors Inc. now owns 279,231 shares of the company’s stock valued at $11,273,000 after buying an additional 66,305 shares during the last quarter. 99.48% of the stock is owned by institutional investors and hedge funds.
Netgear Inc. (NASDAQ:NTGR) opened at 53.41 on Thursday. Netgear Inc. has a 12-month low of $31.65 and a 12-month high of $60.82. The firm has a market cap of $1.75 billion, a PE ratio of 25.41 and a beta of 1.92. The stock’s 50 day moving average price is $57.45 and its 200-day moving average price is $48.81.
Netgear (NASDAQ:NTGR) last released its earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.12. The company earned $311.66 million during the quarter, compared to analyst estimates of $298.87 million. Netgear had a return on equity of 12.06% and a net margin of 5.25%. Netgear’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company 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.
Several analysts recently weighed in on NTGR shares. Zacks Investment Research cut Netgear from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 29th. Citigroup Inc. cut 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. Rosenblatt Securities cut Netgear from a “buy” rating to a “neutral” rating and set a $47.50 price objective for the company. in a report on Tuesday, July 12th. BWS Financial lifted their price objective on Netgear from $50.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Finally, Vetr cut Netgear from a “hold” rating to a “sell” rating and set a $50.32 price objective for the company. in a report on Thursday, July 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. Netgear presently has a consensus rating of “Hold” and a consensus price target of $53.36.
In other Netgear news, Chairman Patrick Cs Lo sold 14,200 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $51.34, for a total transaction of $729,028.00. Following the completion of the transaction, the chairman now directly owns 155,797 shares of the company’s stock, valued at $7,998,617.98. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Christine Marie Gorjanc sold 7,329 shares of the stock in a transaction on Monday, July 18th. The shares were sold at an average price of $50.07, for a total value of $366,963.03. Following the transaction, the chief financial officer now directly owns 80,404 shares of the company’s stock, valued at $4,025,828.28. The disclosure for this sale can be found here. Company insiders own 5.40% of the company’s stock.
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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