Geode Capital Management LLC increased its stake in NETGEAR, Inc. (NASDAQ:NTGR) by 12.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 418,102 shares of the communications equipment provider’s stock after buying an additional 47,354 shares during the period. Geode Capital Management LLC owned approximately 1.27% of NETGEAR worth $20,716,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System raised its stake in NETGEAR by 0.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 20,631 shares of the communications equipment provider’s stock valued at $1,022,000 after buying an additional 57 shares during the period. State of Alaska Department of Revenue raised its stake in shares of 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 during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of NETGEAR by 1.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 9,140 shares of the communications equipment provider’s stock worth $453,000 after buying an additional 90 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of 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 during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of NETGEAR by 0.6% in the first quarter. Arizona State Retirement System now owns 17,150 shares of the communications equipment provider’s stock worth $850,000 after buying an additional 100 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Shares of NETGEAR, Inc. (NASDAQ:NTGR) traded up 2.05% during midday trading on Monday, reaching $47.40. The company’s stock had a trading volume of 417,336 shares. NETGEAR, Inc. has a 12-month low of $41.50 and a 12-month high of $60.82. The company’s 50-day moving average price is $44.46 and its 200 day moving average price is $48.97. The company has a market capitalization of $1.53 billion, a P/E ratio of 21.75 and a beta of 1.55.

NETGEAR (NASDAQ:NTGR) last released its earnings results on Wednesday, July 26th. The communications equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.06. NETGEAR had a return on equity of 10.67% and a net margin of 5.42%. The firm had revenue of $330.72 million for the quarter, compared to the consensus estimate of $324.64 million. During the same period in the prior year, the firm earned $0.72 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that NETGEAR, Inc. will post $2.68 earnings per share for the current year.

NETGEAR declared that its Board of Directors has authorized a share buyback plan on Wednesday, April 26th that authorizes the company to repurchase 3,000,000 outstanding shares. This repurchase authorization authorizes the communications equipment provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

WARNING: “NETGEAR, Inc. (NASDAQ:NTGR) Stake Boosted by Geode Capital Management LLC” was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this news story on another site, it was stolen and reposted in violation of international trademark & copyright law. The original version of this news story can be read at https://www.thecerbatgem.com/2017/08/07/geode-capital-management-llc-buys-47354-shares-of-netgear-inc-nasdaqntgr-updated-updated-updated.html.

A number of analysts have recently commented on NTGR shares. Zacks Investment Research lowered NETGEAR from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 3rd. Global Equities Research reissued a “buy” rating and set a $85.00 price target on shares of NETGEAR in a research note on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $62.48.

In other NETGEAR news, Director Thomas H. Waechter sold 2,000 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $43.25, for a total value of $86,500.00. Following the sale, the director now directly owns 14,770 shares of the company’s stock, valued at $638,802.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Michael A. Werdann sold 8,153 shares of the company’s 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 sale, the senior vice president now directly owns 30,092 shares in the company, valued at $1,294,256.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,936 shares of company stock worth $2,817,014. 6.20% of the stock is owned by corporate 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)

Receive News & Stock Ratings for NETGEAR Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NETGEAR Inc. and related stocks with our FREE daily email newsletter.