First Eagle Investment Management LLC Grows Holdings in NETGEAR, Inc. $NTGR

First Eagle Investment Management LLC lifted its position in NETGEAR, Inc. (NASDAQ:NTGR) by 27.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,393 shares of the communications equipment provider’s stock after purchasing an additional 32,500 shares during the period. First Eagle Investment Management LLC owned about 0.53% of NETGEAR worth $4,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Amundi grew its holdings in NETGEAR by 99.1% during the 1st quarter. Amundi now owns 48,211 shares of the communications equipment provider’s stock valued at $1,179,000 after buying an additional 23,993 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in NETGEAR by 15.5% in the first quarter. Goldman Sachs Group Inc. now owns 279,874 shares of the communications equipment provider’s stock worth $6,846,000 after purchasing an additional 37,469 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of NETGEAR by 13.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,146 shares of the communications equipment provider’s stock worth $1,814,000 after acquiring an additional 9,021 shares during the last quarter. NJ State Employees Deferred Compensation Plan bought a new stake in shares of NETGEAR during the second quarter worth $233,000. Finally, Cornerstone Investment Partners LLC bought a new stake in NETGEAR during the 2nd quarter valued at about $227,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NTGR shares. Zacks Research cut NETGEAR from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research note on Monday, December 29th. Stifel Nicolaus set a $36.00 price objective on shares of NETGEAR in a report on Thursday, February 5th. Finally, Wall Street Zen lowered NETGEAR from a “hold” rating to a “sell” rating in a report on Sunday. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $36.00.

NETGEAR Stock Performance

NASDAQ:NTGR opened at $21.67 on Thursday. The company’s 50-day simple moving average is $21.95 and its 200-day simple moving average is $26.30. NETGEAR, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $36.86. The stock has a market capitalization of $609.14 million, a P/E ratio of -34.95 and a beta of 1.16.

NETGEAR (NASDAQ:NTGR) last announced its earnings results on Wednesday, February 4th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.21. The company had revenue of $182.47 million for the quarter, compared to analyst estimates of $177.26 million. NETGEAR had a negative return on equity of 2.40% and a negative net margin of 2.56%.The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.06) EPS. On average, research analysts forecast that NETGEAR, Inc. will post -1.84 EPS for the current year.

Insider Activity at NETGEAR

In other NETGEAR news, insider Pramod Badjate sold 3,000 shares of NETGEAR stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $20.97, for a total transaction of $62,910.00. Following the completion of the transaction, the insider owned 144,586 shares in the company, valued at approximately $3,031,968.42. This trade represents a 2.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.30% of the stock is owned by company insiders.

NETGEAR Profile

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.