Royce & Associates LP Acquires New Holdings in NETGEAR, Inc. $NTGR

Royce & Associates LP acquired a new stake in shares of NETGEAR, Inc. (NASDAQ:NTGR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 83,709 shares of the communications equipment provider’s stock, valued at approximately $2,053,000.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in NETGEAR by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 2,543,240 shares of the communications equipment provider’s stock valued at $62,386,000 after purchasing an additional 74,457 shares during the period. Dimensional Fund Advisors LP grew its holdings in NETGEAR by 5.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,636,697 shares of the communications equipment provider’s stock valued at $53,010,000 after purchasing an additional 85,228 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in NETGEAR by 17.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 808,805 shares of the communications equipment provider’s stock valued at $26,197,000 after purchasing an additional 117,824 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in NETGEAR by 43.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 717,973 shares of the communications equipment provider’s stock valued at $23,255,000 after purchasing an additional 218,347 shares during the period. Finally, Tenzing Global Management LLC grew its holdings in NETGEAR by 4.3% during the second quarter. Tenzing Global Management LLC now owns 600,000 shares of the communications equipment provider’s stock valued at $17,442,000 after purchasing an additional 25,000 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

NETGEAR Stock Performance

Shares of NTGR opened at $25.99 on Friday. NETGEAR, Inc. has a twelve month low of $19.00 and a twelve month high of $36.86. The firm’s 50 day moving average price is $24.63 and its two-hundred day moving average price is $23.72. The firm has a market cap of $697.57 million, a P/E ratio of -29.53 and a beta of 1.18.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.14. NETGEAR had a negative net margin of 3.58% and a negative return on equity of 2.71%. The firm had revenue of $158.82 million for the quarter, compared to analyst estimates of $152.49 million. During the same quarter in the previous year, the firm posted $0.02 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. On average, sell-side analysts anticipate that NETGEAR, Inc. will post -0.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NTGR. Stifel Nicolaus set a $36.00 price objective on shares of NETGEAR in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of NETGEAR in a research note on Friday, March 27th. Wall Street Zen raised shares of NETGEAR from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Zacks Research raised shares of NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, NETGEAR currently has an average rating of “Hold” and an average target price of $36.00.

Insiders Place Their Bets

In other news, insider Pramod Badjate sold 3,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $25.47, for a total value of $76,410.00. Following the sale, the insider owned 165,513 shares of the company’s stock, valued at $4,215,616.11. The trade was a 1.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 3.10% of the company’s stock.

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.