Schroder Investment Management Group cut its position in shares of Netgear Inc. (NASDAQ:NTGR) by 18.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,300 shares of the company’s stock after selling 14,300 shares during the period. Schroder Investment Management Group owned 0.19% of Netgear worth $2,962,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of NTGR. Emerald Acquisition Ltd. purchased a new position in Netgear during the second quarter worth about $14,271,000. Rothschild Asset Management Inc. bought a new stake in Netgear during the second quarter valued at about $13,343,000. Prudential Financial Inc. raised its stake in Netgear by 77.6% in the first quarter. Prudential Financial Inc. now owns 498,537 shares of the company’s stock valued at $20,126,000 after buying an additional 217,800 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Netgear by 47.0% in the first quarter. JPMorgan Chase & Co. now owns 562,238 shares of the company’s stock valued at $22,697,000 after buying an additional 179,702 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new stake in Netgear during the second quarter valued at about $8,047,000. Institutional investors and hedge funds own 99.48% of the company’s stock.
Shares of Netgear Inc. (NASDAQ:NTGR) traded up 0.84% during trading on Thursday, reaching $60.00. 93,348 shares of the company traded hands. Netgear Inc. has a 12 month low of $28.52 and a 12 month high of $60.13. The company has a 50-day moving average of $56.34 and a 200-day moving average of $46.99. The stock has a market capitalization of $1.97 billion, a PE ratio of 28.54 and a beta of 1.84.
Netgear (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.12. Netgear had a net margin of 5.25% and a return on equity of 12.06%. The firm had revenue of $311.66 million for the quarter, compared to analyst estimates of $298.87 million. During the same period in the prior year, the firm posted $0.29 earnings per share. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. Analysts forecast that Netgear Inc. will post $2.95 earnings per share for the current fiscal year.
Several analysts have issued reports on NTGR shares. Wunderlich raised their price target on shares of Netgear from $58.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, September 8th. Vetr upgraded shares of Netgear from a “sell” rating to a “buy” rating and set a $59.59 price target on the stock in a research report on Tuesday, September 13th. Zacks Investment Research lowered shares of Netgear from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Citigroup Inc. lowered shares of Netgear to a “neutral” rating and set a $47.50 price target on the stock. in a research report on Tuesday, July 12th. They noted that the move was a valuation call. Finally, BWS Financial raised their price target on shares of Netgear from $50.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $52.34.
In other Netgear news, SVP Tamesa Rogers sold 650 shares of the company’s stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $46.29, for a total transaction of $30,088.50. Following the sale, the senior vice president now directly owns 13,901 shares of the company’s stock, valued at $643,477.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jef Graham sold 8,333 shares of the company’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $45.12, for a total transaction of $375,984.96. Following the sale, the director now directly owns 4,394 shares in the company, valued at $198,257.28. The disclosure for this sale can be found here. Company insiders own 5.40% of the company’s stock.
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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