KCG Holdings Inc. Increases Stake in NETGEAR, Inc. (NASDAQ:NTGR)

KCG Holdings Inc. raised its stake in NETGEAR, Inc. (NASDAQ:NTGR) by 56.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its stake in NETGEAR by 38,710.4% in the first quarter. BlackRock Inc. now owns 4,184,534 shares of the communications equipment provider’s stock valued at $207,344,000 after buying an additional 4,173,752 shares during the period. Vanguard Group Inc. raised its stake in NETGEAR by 2.3% in the first quarter. Vanguard Group Inc. now owns 3,151,201 shares of the communications equipment provider’s stock valued at $156,142,000 after buying an additional 69,931 shares during the period. Dimensional Fund Advisors LP raised its stake in NETGEAR by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,698,315 shares of the communications equipment provider’s stock valued at $133,701,000 after buying an additional 16,318 shares during the period. Bank of New York Mellon Corp raised its stake in NETGEAR by 54.8% in the first quarter. Bank of New York Mellon Corp now owns 1,291,319 shares of the communications equipment provider’s stock valued at $63,985,000 after buying an additional 456,929 shares during the period. Finally, Alliancebernstein L.P. raised its stake in NETGEAR by 16.8% in the first quarter. Alliancebernstein L.P. now owns 1,106,025 shares of the communications equipment provider’s stock valued at $54,804,000 after buying an additional 159,001 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Shares of NETGEAR, Inc. (NASDAQ:NTGR) opened at 44.30 on Wednesday. NETGEAR, Inc. has a 52 week low of $41.50 and a 52 week high of $60.82. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 19.97 and a beta of 1.53. The firm has a 50 day moving average of $43.72 and a 200 day moving average of $50.76.

NETGEAR (NASDAQ:NTGR) last issued its earnings results on Wednesday, April 26th. The communications equipment provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. NETGEAR had a net margin of 5.61% and a return on equity of 11.30%. The business had revenue of $323.70 million for the quarter, compared to analyst estimates of $309.48 million. During the same period in the previous year, the business earned $0.74 EPS. The firm’s revenue was up 4.3% on a year-over-year basis. Equities analysts predict that NETGEAR, Inc. will post $2.61 earnings per share for the current fiscal year.

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Several equities research analysts recently weighed in on NTGR shares. Off Wall Street reiterated a “sell” rating and set a $36.00 price objective on shares of NETGEAR in a research note on Monday, March 27th. Zacks Investment Research upgraded shares of NETGEAR from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. Finally, Global Equities Research reiterated a “buy” rating and set a $85.00 price objective on shares of NETGEAR in a research note on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, four have issued 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 “Buy” and a consensus target price of $60.81.

In related news, SVP Michael F. Falcon sold 521 shares of NETGEAR stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $49.40, for a total transaction of $25,737.40. Following the completion of the transaction, the senior vice president now directly owns 31,081 shares of the company’s stock, valued at approximately $1,535,401.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark G. Merrill sold 3,000 shares of NETGEAR stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $49.40, for a total transaction of $148,200.00. Following the transaction, the insider now directly owns 23,944 shares of the company’s stock, valued at $1,182,833.60. The disclosure for this sale can be found here. Insiders have sold a total of 49,218 shares of company stock valued at $2,228,691 over the last three months. 6.20% of the stock is currently owned by 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.

Institutional Ownership by Quarter for NETGEAR (NASDAQ:NTGR)

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