KCG Holdings Inc. increased its position in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 56.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,952 shares of the communications equipment provider’s stock after buying an additional 3,581 shares during the period. KCG Holdings Inc.’s holdings in NETGEAR were worth $493,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of NTGR. Envestnet Asset Management Inc. raised its position in NETGEAR by 17.1% in the first quarter. Envestnet Asset Management Inc. now owns 2,080 shares of the communications equipment provider’s stock worth $103,000 after buying an additional 304 shares during the period. Victory Capital Management Inc. raised its position in NETGEAR by 42.8% in the first quarter. Victory Capital Management Inc. now owns 2,724 shares of the communications equipment provider’s stock worth $135,000 after buying an additional 817 shares during the period. Ameritas Investment Partners Inc. bought a new position in NETGEAR during the first quarter worth $139,000. US Bancorp DE raised its position in NETGEAR by 9.2% in the first quarter. US Bancorp DE now owns 3,243 shares of the communications equipment provider’s stock worth $161,000 after buying an additional 272 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. raised its position in NETGEAR by 364.8% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 3,500 shares of the communications equipment provider’s stock worth $173,000 after buying an additional 2,747 shares during the period. 99.59% of the stock is owned by institutional investors.
NETGEAR, Inc. (NASDAQ:NTGR) traded down 2.93% during mid-day trading on Friday, hitting $46.45. The company’s stock had a trading volume of 504,716 shares. The company has a market cap of $1.50 billion, a P/E ratio of 21.32 and a beta of 1.55. The firm’s 50-day moving average is $44.46 and its 200-day moving average is $48.97. NETGEAR, Inc. has a 12-month low of $41.50 and a 12-month high of $60.82.
NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, July 26th. The communications equipment provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.06. The business had revenue of $330.72 million for the quarter, compared to the consensus estimate of $324.64 million. NETGEAR had a return on equity of 10.67% and a net margin of 5.42%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 earnings per share. Analysts predict that NETGEAR, Inc. will post $2.68 EPS for the current fiscal year.
NETGEAR announced that its Board of Directors has authorized a stock repurchase program on Wednesday, April 26th that authorizes the company to buyback 3,000,000 outstanding shares. This buyback authorization authorizes the communications equipment provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
A number of analysts have commented on NTGR shares. Global Equities Research reissued a “buy” rating and issued a $85.00 target price on shares of NETGEAR in a report on Tuesday, June 13th. Zacks Investment Research raised NETGEAR from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $62.48.
In related news, Director Thomas H. Waechter sold 2,000 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $43.25, for a total value of $86,500.00. Following the transaction, the director now directly owns 14,770 shares of the company’s stock, valued at approximately $638,802.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark G. Merrill sold 3,000 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $45.00, for a total value of $135,000.00. Following the completion of the transaction, the insider now directly owns 23,944 shares in the company, valued at $1,077,480. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,311 shares of company stock worth $2,833,982. Insiders own 6.20% of the company’s stock.
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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