Tibra Equities Europe Ltd bought a new stake in NetGear, Inc. (NASDAQ:NTGR) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 46,500 shares of the communications equipment provider’s stock, valued at approximately $1,498,000. Tibra Equities Europe Ltd owned about 0.15% of NetGear at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. bought a new stake in shares of NetGear in the 2nd quarter valued at about $31,000. Public Employees Retirement Association of Colorado bought a new position in NetGear during the 2nd quarter valued at approximately $39,000. First Mercantile Trust Co. bought a new position in NetGear during the 2nd quarter valued at approximately $42,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in NetGear during the 2nd quarter valued at approximately $47,000. Finally, Quantamental Technologies LLC bought a new position in NetGear during the 2nd quarter valued at approximately $47,000. 99.32% of the stock is owned by institutional investors.
Shares of NTGR stock traded up $0.01 during midday trading on Friday, reaching $27.45. 7,173 shares of the stock were exchanged, compared to its average volume of 428,936. NetGear, Inc. has a 1 year low of $24.63 and a 1 year high of $56.86. The company’s 50 day moving average is $30.41 and its two-hundred day moving average is $29.84. The company has a current ratio of 2.67, a quick ratio of 1.66 and a debt-to-equity ratio of 0.04. The firm has a market cap of $822.72 million, a PE ratio of 15.80 and a beta of 1.63.
NetGear (NASDAQ:NTGR) last posted its earnings results on Wednesday, October 23rd. The communications equipment provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.27. NetGear had a return on equity of 7.48% and a net margin of 1.28%. The firm had revenue of $265.90 million for the quarter, compared to the consensus estimate of $272.22 million. During the same quarter in the prior year, the business earned $0.76 EPS. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. As a group, equities analysts expect that NetGear, Inc. will post 0.89 EPS for the current fiscal year.
A number of research analysts have commented on NTGR shares. BWS Financial raised NetGear from a “hold” rating to a “buy” rating and lowered their price target for the company from $65.00 to $45.00 in a research report on Thursday, October 24th. BidaskClub downgraded NetGear from a “hold” rating to a “sell” rating in a report on Friday, September 20th. ValuEngine downgraded NetGear from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Finally, Guggenheim set a $44.00 target price on NetGear and gave the stock a “buy” rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $38.75.
In related news, CEO Patrick Cs Lo sold 11,588 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $33.81, for a total value of $391,790.28. Following the sale, the chief executive officer now owns 256,503 shares in the company, valued at approximately $8,672,366.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jef Graham sold 3,491 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $35.00, for a total value of $122,185.00. Following the completion of the sale, the director now owns 12,898 shares in the company, valued at approximately $451,430. The disclosure for this sale can be found here. Insiders have sold a total of 35,605 shares of company stock worth $1,197,666 in the last quarter. Company insiders own 5.10% of the company’s stock.
NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. It operates in two segments, Connected Home, and Small and Medium Business. The company offers smart home/connected home/broadband access products, such as broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, WiFi network adapters, and digital canvasses; and value added service offerings, including technical support, parental controls, and cybersecurity protection.
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