Principal Financial Group Inc. lessened its stake in NETGEAR, Inc. (NASDAQ:NTGR) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 540,476 shares of the communications equipment provider’s stock after selling 8,504 shares during the period. Principal Financial Group Inc. owned 1.71% of NETGEAR worth $25,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTGR. Royce & Associates LP boosted its stake in NETGEAR by 43,220.6% in the second quarter. Royce & Associates LP now owns 779,771 shares of the communications equipment provider’s stock valued at $33,608,000 after acquiring an additional 777,971 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of NETGEAR by 33.3% during the second quarter. Bank of New York Mellon Corp now owns 1,720,748 shares of the communications equipment provider’s stock worth $74,165,000 after buying an additional 429,429 shares during the period. Alliancebernstein L.P. boosted its stake in shares of NETGEAR by 28.2% during the second quarter. Alliancebernstein L.P. now owns 1,417,760 shares of the communications equipment provider’s stock worth $61,105,000 after buying an additional 311,735 shares during the period. Marshall Wace North America L.P. acquired a new stake in shares of NETGEAR during the second quarter worth about $12,722,000. Finally, First Trust Advisors LP boosted its stake in shares of NETGEAR by 34.5% during the second quarter. First Trust Advisors LP now owns 1,154,306 shares of the communications equipment provider’s stock worth $49,751,000 after buying an additional 295,823 shares during the period. Institutional investors own 99.36% of the company’s stock.

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In other news, insider Mark G. Merrill sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $49.79, for a total transaction of $149,370.00. Following the completion of the transaction, the insider now directly owns 32,534 shares of the company’s stock, valued at approximately $1,619,867.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Patrick Cs Lo sold 19,799 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $45.35, for a total transaction of $897,884.65. Following the transaction, the chairman now directly owns 183,001 shares of the company’s stock, valued at $8,299,095.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,718 shares of company stock valued at $4,394,187. 6.20% of the stock is currently owned by corporate insiders.

NTGR has been the subject of several recent research reports. Zacks Investment Research downgraded shares of NETGEAR from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. BWS Financial upgraded shares of NETGEAR from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. NETGEAR currently has a consensus rating of “Hold” and a consensus price target of $62.75.

Shares of NETGEAR, Inc. (NASDAQ:NTGR) opened at $50.60 on Tuesday. The company has a market cap of $1,590.00, a PE ratio of 20.72 and a beta of 1.50. NETGEAR, Inc. has a 12-month low of $41.50 and a 12-month high of $59.92.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings data on Wednesday, October 25th. The communications equipment provider reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.13. The firm had revenue of $355.48 million during the quarter, compared to the consensus estimate of $349.36 million. NETGEAR had a net margin of 5.33% and a return on equity of 10.57%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 earnings per share. research analysts forecast that NETGEAR, Inc. will post 2.24 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for NETGEAR (NASDAQ:NTGR)

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