Northern Trust Corp grew its holdings in shares of NetGear, Inc. (NASDAQ:NTGR) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 802,635 shares of the communications equipment provider’s stock after buying an additional 42,185 shares during the quarter. Northern Trust Corp owned 2.52% of NetGear worth $50,164,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in NTGR. BlackRock Inc. raised its position in shares of NetGear by 5.0% during the 1st quarter. BlackRock Inc. now owns 4,330,376 shares of the communications equipment provider’s stock valued at $247,696,000 after acquiring an additional 207,037 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of NetGear by 27.9% during the 1st quarter. JPMorgan Chase & Co. now owns 212,670 shares of the communications equipment provider’s stock valued at $12,165,000 after acquiring an additional 46,413 shares in the last quarter. California Public Employees Retirement System raised its position in shares of NetGear by 15.9% during the 1st quarter. California Public Employees Retirement System now owns 90,677 shares of the communications equipment provider’s stock valued at $5,187,000 after acquiring an additional 12,410 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of NetGear by 95.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,959 shares of the communications equipment provider’s stock valued at $457,000 after acquiring an additional 3,885 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of NetGear by 400.8% during the 1st quarter. Russell Investments Group Ltd. now owns 96,725 shares of the communications equipment provider’s stock valued at $5,516,000 after acquiring an additional 77,412 shares in the last quarter.
In other NetGear news, Chairman Patrick Cs Lo sold 13,999 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $69.51, for a total value of $973,070.49. Following the sale, the chairman now directly owns 207,279 shares of the company’s stock, valued at $14,407,963.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael F. Falcon sold 521 shares of the stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $66.50, for a total value of $34,646.50. Following the completion of the sale, the senior vice president now directly owns 41,326 shares in the company, valued at $2,748,179. The disclosure for this sale can be found here. Insiders sold 46,852 shares of company stock worth $3,051,578 over the last ninety days. 5.10% of the stock is owned by corporate insiders.
Shares of NASDAQ NTGR opened at $54.96 on Friday. NetGear, Inc. has a 1-year low of $44.20 and a 1-year high of $78.30. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 23.88 and a beta of 2.04.
NetGear (NASDAQ:NTGR) last issued its earnings results on Monday, July 23rd. The communications equipment provider reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.06. NetGear had a positive return on equity of 9.97% and a negative net margin of 0.74%. The firm had revenue of $366.80 million for the quarter, compared to analyst estimates of $350.60 million. During the same period last year, the company earned $0.60 earnings per share. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities analysts anticipate that NetGear, Inc. will post 1.36 EPS for the current fiscal year.
Several equities research analysts recently issued reports on the company. BidaskClub lowered NetGear from a “sell” rating to a “strong sell” rating in a research report on Tuesday. ValuEngine raised NetGear from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Cowen assumed coverage on NetGear in a research report on Monday, October 1st. They set a “hold” rating and a $63.00 price target on the stock. Raymond James set a $80.00 price target on NetGear and gave the company a “buy” rating in a research report on Wednesday, September 5th. Finally, Guggenheim reissued a “buy” rating on shares of NetGear in a research report on Tuesday, August 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. NetGear presently has a consensus rating of “Hold” and a consensus target price of $70.40.
NetGear Company Profile
NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. The company operates in three segments: Arlo, Connected Home, and Small and Medium Business. It offers smart home/connected home/broadband access products, such as remote video security systems, broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, and WiFi network adapters.
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