Mackenzie Financial Corp Buys New Position in NETGEAR, Inc. (NASDAQ:NTGR)

Mackenzie Financial Corp bought a new stake in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 42,698 shares of the communications equipment provider's stock, valued at approximately $1,190,000. Mackenzie Financial Corp owned approximately 0.15% of NETGEAR as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. R Squared Ltd acquired a new stake in shares of NETGEAR in the 4th quarter worth about $72,000. New York State Teachers Retirement System bought a new stake in NETGEAR during the fourth quarter worth approximately $72,000. Summit Investment Advisors Inc. increased its stake in NETGEAR by 19.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider's stock worth $81,000 after purchasing an additional 479 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of NETGEAR in the fourth quarter valued at $92,000. Finally, AlphaQuest LLC purchased a new stake in NETGEAR in the 4th quarter worth about $185,000. Institutional investors own 82.97% of the company's stock.

NETGEAR Stock Up 0.4%

Shares of NTGR stock traded up $0.11 during trading on Wednesday, reaching $30.26. 552,353 shares of the company's stock were exchanged, compared to its average volume of 353,844. The firm's fifty day moving average price is $25.95 and its 200-day moving average price is $26.10. NETGEAR, Inc. has a twelve month low of $13.33 and a twelve month high of $31.55. The stock has a market capitalization of $870.94 million, a PE ratio of 75.65 and a beta of 1.14.

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 net margin of 1.83% and a negative return on equity of 9.24%. The firm had revenue of $162.06 million during the quarter, compared to analysts' expectations of $152.24 million. During the same quarter in the prior year, the business earned ($0.28) earnings per share. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, analysts anticipate that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on NTGR. Raymond James boosted their price target 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 upgraded shares of NETGEAR from a "hold" rating to a "buy" rating in a research report on Monday, May 5th.

Insiders Place Their Bets

In other NETGEAR news, CFO Murray Bryan sold 3,848 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $23.92, for a total transaction of $92,044.16. Following the transaction, the chief financial officer now directly owns 193,032 shares in the company, valued at approximately $4,617,325.44. This represents a 1.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sarah Butterfass sold 5,848 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $28.89, for a total transaction of $168,948.72. Following the sale, the director now directly owns 41,657 shares of the company's stock, valued at approximately $1,203,470.73. This trade represents a 12.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,367 shares of company stock worth $336,021. 2.30% of the stock is currently owned by insiders.

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.