US Bancorp DE Cuts Stake in NETGEAR, Inc. (NTGR)
US Bancorp DE lowered its position in NETGEAR, Inc. (NASDAQ:NTGR) by 2.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,155 shares of the communications equipment provider’s stock after selling 88 shares during the period. US Bancorp DE’s holdings in NETGEAR were worth $136,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. 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 in the last quarter. 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 in the last quarter. Ameritas Investment Partners Inc. purchased a new position in NETGEAR during the first quarter worth approximately $139,000. 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 in the last quarter. Finally, State of Alaska Department of Revenue raised its position in 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 in the last quarter. Hedge funds and other institutional investors own 98.87% of the company’s stock.
NETGEAR, Inc. (NASDAQ NTGR) remained flat at $47.85 during midday trading on Tuesday. The company had a trading volume of 56,499 shares. The company’s 50-day moving average is $45.85 and its 200-day moving average is $47.88. NETGEAR, Inc. has a 52 week low of $41.50 and a 52 week high of $60.82. The company has a market capitalization of $1.51 billion, a PE ratio of 21.96 and a beta of 1.55.
NETGEAR (NASDAQ:NTGR) last posted its quarterly 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 net margin of 5.42% and a return on equity of 10.67%. The business had revenue of $330.72 million during the quarter, compared to the consensus estimate of $324.64 million. During the same quarter last year, the firm posted $0.72 EPS. NETGEAR’s revenue was up 6.1% compared to the same quarter last year. Analysts anticipate that NETGEAR, Inc. will post $2.74 EPS for the current year.
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A number of research firms recently commented on NTGR. Zacks Investment Research lowered shares of NETGEAR from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Global Equities Research reiterated a “buy” rating and issued a $85.00 target price on shares of NETGEAR in a research report 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 given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $62.48.
In related news, Director Jef Graham sold 4,394 shares of NETGEAR stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $44.38, for a total value of $195,005.72. Following the completion of the sale, the director now owns 4,683 shares of the company’s stock, valued at approximately $207,831.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas H. Waechter sold 2,000 shares of NETGEAR stock in a transaction on Monday, June 5th. The shares were sold at an average price of $43.25, for a total transaction of $86,500.00. Following the completion of the sale, the director now directly owns 14,770 shares of the company’s stock, valued at approximately $638,802.50. The disclosure for this sale can be found here. In the last three months, insiders sold 64,974 shares of company stock valued at $2,966,434. 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.
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