Quantitative Systematic Strategies LLC acquired a new position in shares of NetGear, Inc. (NASDAQ:NTGR) in the 4th quarter, Holdings Channel reports. The fund acquired 3,661 shares of the communications equipment provider’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake in NetGear by 11.4% during the third quarter. Bank of New York Mellon Corp now owns 1,917,611 shares of the communications equipment provider’s stock worth $91,278,000 after buying an additional 196,863 shares during the period. State Street Corp grew its stake in NetGear by 1.8% during the second quarter. State Street Corp now owns 842,782 shares of the communications equipment provider’s stock worth $36,319,000 after buying an additional 14,817 shares during the period. Northern Trust Corp grew its stake in NetGear by 55.1% during the second quarter. Northern Trust Corp now owns 773,995 shares of the communications equipment provider’s stock worth $33,359,000 after buying an additional 274,952 shares during the period. Macquarie Group Ltd. grew its stake in NetGear by 12.4% during the third quarter. Macquarie Group Ltd. now owns 667,007 shares of the communications equipment provider’s stock worth $31,750,000 after buying an additional 73,342 shares during the period. Finally, Rothschild Asset Management Inc. grew its stake in NetGear by 5.4% during the third quarter. Rothschild Asset Management Inc. now owns 580,450 shares of the communications equipment provider’s stock worth $27,629,000 after buying an additional 29,853 shares during the period. Institutional investors own 97.52% of the company’s stock.

NTGR has been the subject of several research reports. BidaskClub upgraded shares of NetGear from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 21st. BWS Financial set a $75.00 price objective on shares of NetGear and gave the stock a “buy” rating in a research note on Friday, January 12th. Raymond James Financial upgraded shares of NetGear from a “market perform” rating to an “outperform” rating and set a $62.00 price objective for the company in a research note on Monday, December 18th. Finally, Zacks Investment Research upgraded shares of NetGear from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. NetGear currently has an average rating of “Buy” and a consensus target price of $65.20.

Shares of NetGear, Inc. (NASDAQ NTGR) opened at $58.85 on Friday. The stock has a market cap of $1,852.01, a P/E ratio of 25.37 and a beta of 1.79. NetGear, Inc. has a 52 week low of $41.50 and a 52 week high of $71.42.

NetGear (NASDAQ:NTGR) last announced its earnings results on Tuesday, February 6th. The communications equipment provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.07. The business had revenue of $397.06 million during the quarter, compared to the consensus estimate of $393.27 million. NetGear had a net margin of 1.38% and a return on equity of 9.92%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 earnings per share. analysts expect that NetGear, Inc. will post 2.71 EPS for the current fiscal year.

In other news, insider Mark G. Merrill sold 3,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $49.79, for a total value of $149,370.00. Following the completion of the transaction, the insider now directly owns 32,534 shares in the company, valued at $1,619,867.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Patrick J. Collins III sold 416 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $71.00, for a total transaction of $29,536.00. Following the completion of the transaction, the senior vice president now owns 34,612 shares of the company’s stock, valued at $2,457,452. The disclosure for this sale can be found here. Insiders sold 70,338 shares of company stock valued at $4,138,633 over the last 90 days. Insiders own 6.20% of the company’s stock.

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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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Institutional Ownership by Quarter for NetGear (NASDAQ:NTGR)

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