Northern Trust Corp Has $7.52 Million Stock Holdings in NETGEAR, Inc. (NASDAQ:NTGR)

Northern Trust Corp boosted its stake in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 269,874 shares of the communications equipment provider's stock after purchasing an additional 15,044 shares during the period. Northern Trust Corp owned approximately 0.94% of NETGEAR worth $7,521,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tudor Investment Corp ET AL purchased a new position in NETGEAR in the fourth quarter valued at about $2,702,000. Aquatic Capital Management LLC raised its position in shares of NETGEAR by 30.1% during the 4th quarter. Aquatic Capital Management LLC now owns 27,701 shares of the communications equipment provider's stock valued at $772,000 after acquiring an additional 6,401 shares in the last quarter. Voya Investment Management LLC bought a new stake in NETGEAR during the fourth quarter valued at $245,000. Price T Rowe Associates Inc. MD raised its holdings in shares of NETGEAR by 18.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,607 shares of the communications equipment provider's stock worth $1,021,000 after purchasing an additional 5,780 shares during the period. Finally, Hsbc Holdings PLC lifted its position in shares of NETGEAR by 29.3% in the 4th quarter. Hsbc Holdings PLC now owns 73,209 shares of the communications equipment provider's stock worth $2,012,000 after buying an additional 16,588 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Murray Bryan sold 3,848 shares of NETGEAR stock in a transaction that occurred 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 transaction, the chief financial officer now owns 193,032 shares of the company's stock, valued at $4,617,325.44. The trade was a 1.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 7.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Raymond James upped their price objective on NETGEAR from $22.00 to $29.00 and gave the stock an "outperform" rating in a research note 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.

NETGEAR Trading Down 2.4%

NTGR stock traded down $0.71 during trading on Friday, hitting $29.15. The company had a trading volume of 97,845 shares, compared to its average volume of 345,922. The business has a 50 day moving average of $25.02 and a 200 day moving average of $25.74. The firm has a market capitalization of $839.00 million, a price-to-earnings ratio of 72.89 and a beta of 1.09. NETGEAR, Inc. has a fifty-two week low of $12.66 and a fifty-two week high of $31.55.

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 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 company had revenue of $162.06 million during the quarter, compared to analyst estimates of $152.24 million. During the same period in the prior year, the business posted ($0.28) EPS. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities analysts predict that NETGEAR, Inc. will post -1.84 EPS for the current 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.