State of Wyoming Acquires New Stake in NETGEAR, Inc. (NASDAQ:NTGR)

State of Wyoming purchased a new position in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 14,631 shares of the communications equipment provider's stock, valued at approximately $408,000. State of Wyoming owned 0.05% of NETGEAR at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. New York State Teachers Retirement System purchased a new position in shares of NETGEAR during the 4th quarter valued at about $72,000. R Squared Ltd acquired a new stake in NETGEAR during the fourth quarter worth about $72,000. Summit Investment Advisors Inc. raised its position in NETGEAR by 19.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider's stock valued at $81,000 after acquiring an additional 479 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in NETGEAR in the fourth quarter valued at approximately $92,000. Finally, AlphaQuest LLC acquired a new position in NETGEAR in the fourth quarter valued at approximately $185,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NTGR shares. Raymond James lifted their target price on shares of NETGEAR from $22.00 to $29.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Wall Street Zen raised shares of NETGEAR from a "hold" rating to a "buy" rating in a report on Monday, May 5th.

NETGEAR Stock Down 3.5%

Shares of NTGR stock traded down $1.06 during mid-day trading on Monday, hitting $28.80. 384,170 shares of the stock were exchanged, compared to its average volume of 347,125. NETGEAR, Inc. has a 52-week low of $13.22 and a 52-week high of $31.55. The company has a market cap of $828.92 million, a PE ratio of 72.00 and a beta of 1.09. The firm has a fifty day moving average of $25.12 and a 200 day moving average of $25.81.

NETGEAR (NASDAQ:NTGR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.35) by $0.37. NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. The company had revenue of $162.06 million for the quarter, compared to the consensus estimate of $152.24 million. During the same quarter in the prior year, the business posted ($0.28) earnings per share. NETGEAR's revenue for the quarter was down 1.5% on a year-over-year basis. Equities analysts predict that NETGEAR, Inc. will post -1.84 EPS for the current year.

Insider Transactions at NETGEAR

In related news, CFO Murray Bryan sold 3,848 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $23.92, for a total value of $92,044.16. Following the completion of the sale, the chief financial officer now owns 193,032 shares of the company's stock, valued at approximately $4,617,325.44. The trade was a 1.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.00% of the company's stock.

NETGEAR Company Profile

NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.