Legal & General Group Plc Buys 6,114 Shares of NetGear, Inc. (NTGR)
Legal & General Group Plc lifted its stake in NetGear, Inc. (NASDAQ:NTGR) by 9.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 74,289 shares of the communications equipment provider’s stock after purchasing an additional 6,114 shares during the quarter. Legal & General Group Plc’s holdings in NetGear were worth $4,668,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Tower Research Capital LLC TRC bought a new stake in shares of NetGear in the second quarter valued at approximately $267,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of NetGear in the second quarter valued at approximately $349,000. Sensato Investors LLC bought a new stake in shares of NetGear in the third quarter valued at approximately $365,000. BlueMountain Capital Management LLC bought a new stake in shares of NetGear in the second quarter valued at approximately $366,000. Finally, Pacer Advisors Inc. boosted its stake in shares of NetGear by 297.8% in the third quarter. Pacer Advisors Inc. now owns 6,734 shares of the communications equipment provider’s stock valued at $423,000 after buying an additional 5,041 shares during the period. Institutional investors and hedge funds own 99.99% of the company’s stock.
Several brokerages recently issued reports on NTGR. BidaskClub cut NetGear from a “hold” rating to a “sell” rating in a research note on Friday, September 21st. Cowen began coverage on NetGear in a research note on Monday, October 1st. They issued a “hold” rating and a $63.00 price target for the company. ValuEngine upgraded NetGear from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Finally, Zacks Investment Research restated a “hold” rating on shares of NetGear in a research note on Wednesday, November 14th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. NetGear has an average rating of “Hold” and an average target price of $71.00.
Shares of NTGR stock opened at $37.72 on Monday. NetGear, Inc. has a 12-month low of $31.80 and a 12-month high of $78.30. The company has a market cap of $1.16 billion, a PE ratio of 16.26 and a beta of 1.86.
NetGear (NASDAQ:NTGR) last issued its quarterly earnings results on Thursday, October 25th. The communications equipment provider reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.25. NetGear had a negative net margin of 1.43% and a positive return on equity of 8.75%. The company had revenue of $400.59 million during the quarter, compared to analyst estimates of $388.94 million. As a group, research analysts expect that NetGear, Inc. will post 0.3 earnings per share for the current year.
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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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