Royce & Associates LP Acquires Shares of 83,709 NETGEAR, Inc. $NTGR

Royce & Associates LP acquired a new stake in NETGEAR, Inc. (NASDAQ:NTGR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 83,709 shares of the communications equipment provider’s stock, valued at approximately $2,053,000. Royce & Associates LP owned approximately 0.29% of NETGEAR at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank increased its position in NETGEAR by 64.8% in the 3rd quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock valued at $35,000 after acquiring an additional 429 shares in the last quarter. IFP Advisors Inc increased its position in NETGEAR by 161.7% in the 4th quarter. IFP Advisors Inc now owns 2,243 shares of the communications equipment provider’s stock valued at $55,000 after acquiring an additional 1,386 shares in the last quarter. Jones Financial Companies Lllp increased its position in NETGEAR by 44.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,323 shares of the communications equipment provider’s stock valued at $75,000 after acquiring an additional 718 shares in the last quarter. FNY Investment Advisers LLC increased its position in NETGEAR by 50.0% in the 3rd quarter. FNY Investment Advisers LLC now owns 3,000 shares of the communications equipment provider’s stock valued at $97,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in NETGEAR by 35.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the communications equipment provider’s stock valued at $101,000 after acquiring an additional 904 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

NTGR has been the subject of several research reports. Zacks Research upgraded shares of NETGEAR from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Wall Street Zen upgraded shares of NETGEAR from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Stifel Nicolaus set a $36.00 price objective on shares of NETGEAR in a research report on Thursday, February 5th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $36.00.

NETGEAR Price Performance

Shares of NASDAQ:NTGR opened at $25.99 on Friday. NETGEAR, Inc. has a one year low of $19.00 and a one year high of $36.86. The company has a 50 day moving average of $24.63 and a 200-day moving average of $23.72. The stock has a market cap of $697.57 million, a price-to-earnings ratio of -29.53 and a beta of 1.18.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.14. NETGEAR had a negative net margin of 3.58% and a negative return on equity of 2.71%. The company had revenue of $158.82 million during the quarter, compared to analysts’ expectations of $152.49 million. During the same quarter in the previous year, the company earned $0.02 EPS. NETGEAR’s revenue was down 2.0% on a year-over-year basis. Equities research analysts anticipate that NETGEAR, Inc. will post -0.59 earnings per share for the current year.

Insider Activity at NETGEAR

In other news, insider Pramod Badjate sold 3,000 shares of NETGEAR stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $25.47, for a total transaction of $76,410.00. Following the completion of the sale, the insider owned 165,513 shares in the company, valued at $4,215,616.11. The trade was a 1.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.10% of the stock is currently owned by corporate insiders.

NETGEAR Company Profile

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.