NETGEAR, Inc. (NASDAQ:NTGR) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its stake in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 30.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,525 shares of the communications equipment provider's stock after purchasing an additional 27,379 shares during the period. Ameriprise Financial Inc. owned about 0.41% of NETGEAR worth $3,248,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Summit Investment Advisors Inc. boosted its holdings in NETGEAR by 19.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider's stock valued at $81,000 after purchasing an additional 479 shares during the period. Legal & General Group Plc lifted its holdings in NETGEAR by 2.6% during the 4th quarter. Legal & General Group Plc now owns 32,902 shares of the communications equipment provider's stock worth $917,000 after buying an additional 846 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in NETGEAR by 49.3% during the 4th quarter. New York State Common Retirement Fund now owns 7,566 shares of the communications equipment provider's stock worth $211,000 after buying an additional 2,500 shares during the last quarter. New York State Teachers Retirement System purchased a new stake in NETGEAR during the 4th quarter worth about $72,000. Finally, R Squared Ltd purchased a new stake in NETGEAR during the 4th quarter worth about $72,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NTGR has been the subject of a number of recent analyst reports. Raymond James lifted their price target on NETGEAR from $22.00 to $29.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Wall Street Zen raised NETGEAR from a "hold" rating to a "buy" rating in a report on Monday, May 5th.

Insider Transactions at NETGEAR

In related news, CFO Murray Bryan sold 2,671 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $28.09, for a total value of $75,028.39. Following the transaction, the chief financial officer now owns 178,945 shares in the company, valued at $5,026,565.05. The trade was a 1.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 7.00% of the company's stock.

NETGEAR Price Performance

Shares of NTGR traded down $0.48 during midday trading on Friday, reaching $29.10. 564,814 shares of the stock were exchanged, compared to its average volume of 350,769. The business's 50-day moving average price is $25.64 and its 200 day moving average price is $26.00. NETGEAR, Inc. has a twelve month low of $13.22 and a twelve month high of $31.55. The company has a market capitalization of $837.56 million, a price-to-earnings ratio of 72.75 and a beta of 1.09.

NETGEAR (NASDAQ:NTGR - Get Free Report) last posted its earnings results on Wednesday, April 30th. The communications equipment provider reported $0.02 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 business had revenue of $162.06 million for the quarter, compared to analysts' expectations of $152.24 million. During the same quarter in the previous year, the firm earned ($0.28) earnings per share. The business's revenue was down 1.5% compared to the same quarter last year. As a group, equities research analysts expect that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.

NETGEAR 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.