Public Employees Retirement System of Ohio boosted its holdings in NETGEAR, Inc. (NASDAQ:NTGR – Free Report) by 27.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,169 shares of the communications equipment provider’s stock after buying an additional 11,259 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.18% of NETGEAR worth $1,454,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the company. New York State Teachers Retirement System bought a new position in shares of NETGEAR in the fourth quarter worth $72,000. Summit Investment Advisors Inc. lifted its stake in NETGEAR by 19.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider’s stock worth $81,000 after purchasing an additional 479 shares during the last quarter. Picton Mahoney Asset Management bought a new stake in NETGEAR in the fourth quarter worth $92,000. AlphaQuest LLC purchased a new position in shares of NETGEAR in the fourth quarter valued at about $185,000. Finally, New York State Common Retirement Fund increased its position in shares of NETGEAR by 49.3% in the fourth quarter. New York State Common Retirement Fund now owns 7,566 shares of the communications equipment provider’s stock valued at $211,000 after acquiring an additional 2,500 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at NETGEAR
In related news, CFO Murray Bryan sold 2,671 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $28.09, for a total value of $75,028.39. Following the completion of the sale, the chief financial officer now directly owns 178,945 shares of the company’s stock, valued at approximately $5,026,565.05. This represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sarah Butterfass sold 5,848 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $28.89, for a total transaction of $168,948.72. Following the completion of the sale, the director now directly owns 41,657 shares of the company’s stock, valued at $1,203,470.73. This represents a 12.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,367 shares of company stock worth $336,021 in the last quarter. Company insiders own 7.00% of the company’s stock.
NETGEAR Trading Down 0.7%
NETGEAR (NASDAQ:NTGR – Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.37. The firm had revenue of $162.06 million for the quarter, compared to the consensus estimate of $152.24 million. NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.28) EPS. As a group, research analysts forecast that NETGEAR, Inc. will post -1.84 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the stock. Raymond James boosted their price objective on shares of NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Wall Street Zen raised shares of NETGEAR from a “hold” rating to a “buy” rating in a research report on Monday, May 5th.
Read Our Latest Stock Report on NETGEAR
NETGEAR Company Profile
NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.
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