JPMorgan Chase & Co. Buys 20,970 Shares of NETGEAR, Inc. $NTGR

JPMorgan Chase & Co. lifted its stake in NETGEAR, Inc. (NASDAQ:NTGR) by 5.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 423,416 shares of the communications equipment provider’s stock after purchasing an additional 20,970 shares during the quarter. JPMorgan Chase & Co.’s holdings in NETGEAR were worth $12,309,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. FNY Investment Advisers LLC purchased a new stake in NETGEAR during the 2nd quarter valued at $58,000. Headlands Technologies LLC boosted its stake in NETGEAR by 19.6% during the first quarter. Headlands Technologies LLC now owns 3,010 shares of the communications equipment provider’s stock worth $74,000 after buying an additional 494 shares during the period. Parallax Volatility Advisers L.P. bought a new position in NETGEAR during the first quarter valued at $206,000. Values First Advisors Inc. purchased a new stake in shares of NETGEAR in the second quarter valued at $210,000. Finally, US Bancorp DE raised its stake in shares of NETGEAR by 142.6% in the first quarter. US Bancorp DE now owns 8,800 shares of the communications equipment provider’s stock valued at $215,000 after acquiring an additional 5,172 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Activity at NETGEAR

In other news, VP Graeme Mclindin sold 1,205 shares of NETGEAR stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $34.26, for a total transaction of $41,283.30. Following the completion of the sale, the vice president owned 30,808 shares of the company’s stock, valued at approximately $1,055,482.08. The trade was a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Shravan Goli sold 2,047 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $29.95, for a total value of $61,307.65. Following the completion of the sale, the director owned 29,238 shares of the company’s stock, valued at $875,678.10. The trade was a 6.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 20,315 shares of company stock valued at $661,592. 2.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on NTGR. Raymond James Financial lifted their price target on shares of NETGEAR from $29.00 to $37.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Seaport Res Ptn raised shares of NETGEAR to a “strong-buy” rating in a research note on Wednesday, October 1st. UBS Group set a $35.00 target price on NETGEAR in a research report on Thursday, August 21st. Stifel Nicolaus upped their target price on NETGEAR from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Finally, Zacks Research downgraded NETGEAR from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.33.

NETGEAR Price Performance

Shares of NTGR opened at $26.62 on Monday. NETGEAR, Inc. has a 1-year low of $18.75 and a 1-year high of $36.86. The company has a 50-day moving average of $30.21 and a 200 day moving average of $28.60. The firm has a market capitalization of $756.01 million, a price-to-earnings ratio of -29.25 and a beta of 1.20.

About NETGEAR

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.