Majedie Asset Management Ltd acquired a new stake in NetGear, Inc. (NASDAQ:NTGR) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 180,300 shares of the communications equipment provider’s stock, valued at approximately $10,593,000. NetGear accounts for about 0.9% of Majedie Asset Management Ltd’s investment portfolio, making the stock its 28th largest holding.

Several other large investors also recently bought and sold shares of NTGR. Northern Trust Corp lifted its stake in shares of NetGear by 55.1% in the 2nd quarter. Northern Trust Corp now owns 773,995 shares of the communications equipment provider’s stock valued at $33,359,000 after purchasing an additional 274,952 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of NetGear by 11.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,917,611 shares of the communications equipment provider’s stock valued at $91,278,000 after purchasing an additional 196,863 shares during the last quarter. Macquarie Group Ltd. lifted its stake in shares of NetGear by 35.0% in the 2nd quarter. Macquarie Group Ltd. now owns 593,665 shares of the communications equipment provider’s stock valued at $25,587,000 after purchasing an additional 154,070 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of NetGear by 1,300.5% in the 4th quarter. Acadian Asset Management LLC now owns 112,696 shares of the communications equipment provider’s stock valued at $6,621,000 after purchasing an additional 104,649 shares during the last quarter. Finally, Dean Investment Associates LLC bought a new stake in shares of NetGear in the 3rd quarter valued at approximately $3,688,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised NetGear from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Wednesday, January 10th. BidaskClub raised NetGear from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 13th. Raymond James Financial raised NetGear from a “market perform” rating to an “outperform” rating and set a $62.00 price objective for the company in a research note on Monday, December 18th. Finally, BWS Financial set a $75.00 price objective on NetGear and gave the company a “buy” rating in a research note on Friday, January 12th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $65.20.

In other news, Director Jef Graham acquired 500 shares of NetGear stock in a transaction on Friday, December 15th. The shares were bought at an average cost of $54.05 per share, for a total transaction of $27,025.00. Following the acquisition, the director now directly owns 5,183 shares of the company’s stock, valued at approximately $280,141.15. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Patrick J. Collins III sold 416 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $71.00, for a total value of $29,536.00. Following the transaction, the senior vice president now owns 34,612 shares in the company, valued at $2,457,452. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,500 shares of company stock worth $4,409,047. Company insiders own 6.20% of the company’s stock.

Shares of NetGear, Inc. (NASDAQ NTGR) opened at $67.40 on Wednesday. NetGear, Inc. has a fifty-two week low of $41.50 and a fifty-two week high of $71.42. The firm has a market capitalization of $2,080.16, a P/E ratio of 30.64 and a beta of 1.79.

NetGear (NASDAQ:NTGR) last issued its quarterly earnings results on Tuesday, February 6th. The communications equipment provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.07. NetGear had a return on equity of 10.57% and a net margin of 5.33%. The firm had revenue of $397.06 million for the quarter, compared to the consensus estimate of $393.27 million. During the same period in the prior year, the business posted $0.88 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. analysts expect that NetGear, Inc. will post 2.24 EPS for the current fiscal year.

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NetGear 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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