NETGEAR, Inc. (NTGR) Shares Bought by Boston Partners
Boston Partners increased its position in NETGEAR, Inc. (NASDAQ:NTGR) by 3.8% during the second quarter, Holdings Channel reports. The institutional investor owned 420,710 shares of the communications equipment provider’s stock after buying an additional 15,373 shares during the period. Boston Partners’ holdings in NETGEAR were worth $18,133,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of NTGR. Fox Run Management L.L.C. bought a new stake in NETGEAR during the first quarter worth about $357,000. Louisiana State Employees Retirement System increased its stake in NETGEAR by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 13,400 shares of the communications equipment provider’s stock worth $664,000 after buying an additional 100 shares in the last quarter. State of Alaska Department of Revenue increased its stake in NETGEAR by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 3,650 shares of the communications equipment provider’s stock worth $180,000 after buying an additional 60 shares in the last quarter. Navellier & Associates Inc increased its stake in NETGEAR by 2.6% in the first quarter. Navellier & Associates Inc now owns 16,905 shares of the communications equipment provider’s stock worth $838,000 after buying an additional 421 shares in the last quarter. Finally, Profund Advisors LLC increased its stake in NETGEAR by 4.0% in the first quarter. Profund Advisors LLC now owns 23,586 shares of the communications equipment provider’s stock worth $1,169,000 after buying an additional 918 shares in the last quarter. 98.84% of the stock is owned by institutional investors.
NETGEAR, Inc. (NASDAQ NTGR) opened at 45.80 on Wednesday. The stock has a market cap of $1.45 billion, a PE ratio of 21.02 and a beta of 1.55. The company has a 50-day moving average of $45.27 and a 200-day moving average of $48.36. NETGEAR, Inc. has a 12 month low of $41.50 and a 12 month high of $60.82.
NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, July 26th. The communications equipment provider reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.06. NETGEAR had a net margin of 5.42% and a return on equity of 10.67%. The business had revenue of $330.72 million during the quarter, compared to analyst estimates of $324.64 million. During the same quarter last year, the business earned $0.72 earnings per share. NETGEAR’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities analysts forecast that NETGEAR, Inc. will post $2.74 EPS for the current fiscal year.
NETGEAR declared that its board has approved a stock buyback plan on Wednesday, April 26th that allows the company to buyback 3,000,000 shares. This buyback authorization allows the communications equipment provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
A number of analysts have recently issued reports on NTGR shares. Zacks Investment Research downgraded shares of NETGEAR from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 3rd. Global Equities Research reaffirmed a “buy” rating and set a $85.00 price objective on shares of NETGEAR in a report on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $62.48.
In other NETGEAR news, SVP Michael A. Werdann sold 8,153 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $43.01, for a total transaction of $350,660.53. Following the completion of the transaction, the senior vice president now owns 30,092 shares in the company, valued at $1,294,256.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tamesa Rogers sold 1,500 shares of the stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $44.90, for a total transaction of $67,350.00. Following the transaction, the senior vice president now owns 24,079 shares of the company’s stock, valued at approximately $1,081,147.10. The disclosure for this sale can be found here. Insiders have sold 61,478 shares of company stock valued at $2,802,898 in the last quarter. 6.20% of the stock is owned by company insiders.
NETGEAR Company Profile
NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.
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