Vanguard Group Inc. Acquires 74,457 Shares of NETGEAR, Inc. $NTGR

Vanguard Group Inc. increased its holdings in NETGEAR, Inc. (NASDAQ:NTGR) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,543,240 shares of the communications equipment provider’s stock after purchasing an additional 74,457 shares during the quarter. Vanguard Group Inc. owned approximately 8.96% of NETGEAR worth $62,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in shares of NETGEAR by 5.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,636,697 shares of the communications equipment provider’s stock worth $53,010,000 after purchasing an additional 85,228 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of NETGEAR by 17.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 808,805 shares of the communications equipment provider’s stock worth $26,197,000 after purchasing an additional 117,824 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of NETGEAR by 43.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 717,973 shares of the communications equipment provider’s stock worth $23,255,000 after purchasing an additional 218,347 shares during the last quarter. Tenzing Global Management LLC grew its stake in shares of NETGEAR by 4.3% in the second quarter. Tenzing Global Management LLC now owns 600,000 shares of the communications equipment provider’s stock worth $17,442,000 after purchasing an additional 25,000 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of NETGEAR by 87.6% in the third quarter. Lazard Asset Management LLC now owns 548,911 shares of the communications equipment provider’s stock worth $17,779,000 after purchasing an additional 256,266 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other NETGEAR news, insider Pramod Badjate sold 3,000 shares of the firm’s 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 transaction, the insider owned 165,513 shares of the company’s stock, valued at approximately $4,215,616.11. This trade represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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. 2.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NTGR shares. Wall Street Zen raised NETGEAR from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Zacks Research raised NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Weiss Ratings reissued a “sell (d)” rating on shares of NETGEAR in a research note on Friday, March 27th. Finally, Stifel Nicolaus set a $36.00 price objective on shares of NETGEAR in a report on Thursday, February 5th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $36.00.

NETGEAR Price Performance

Shares of NTGR opened at $25.82 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 simple moving average of $23.74 and a two-hundred day simple moving average of $24.17. The firm has a market capitalization of $693.01 million, a PE ratio of -29.34 and a beta of 1.18.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings data 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 business had revenue of $158.82 million during the quarter, compared to analyst estimates of $152.49 million. During the same period last year, the business posted $0.02 earnings per share. NETGEAR’s quarterly revenue was down 2.0% compared to the same quarter last year. Analysts expect that NETGEAR, Inc. will post -0.59 EPS for the current fiscal year.

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.