Northern Trust Corp Acquires 15,044 Shares of NETGEAR, Inc. (NASDAQ:NTGR)

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

A number of other large investors have also recently made changes to their positions in NTGR. Hsbc Holdings PLC grew its stake 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 valued at $2,012,000 after purchasing an additional 16,588 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of NETGEAR by 32.0% in the fourth quarter. Rhumbline Advisers now owns 69,841 shares of the communications equipment provider's stock valued at $1,946,000 after buying an additional 16,920 shares in the last quarter. Bailard Inc. acquired a new position in NETGEAR during the fourth quarter worth $362,000. Robeco Institutional Asset Management B.V. raised its holdings in NETGEAR by 285.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 79,693 shares of the communications equipment provider's stock worth $2,221,000 after purchasing an additional 59,005 shares during the last quarter. Finally, Inspire Investing LLC acquired a new position in shares of NETGEAR in the fourth quarter worth $852,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NETGEAR

In related news, CFO Murray Bryan sold 2,671 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $28.09, for a total value of $75,028.39. Following the completion of the transaction, the chief financial officer now directly owns 178,945 shares in the company, valued at approximately $5,026,565.05. This represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 7.00% of the company's stock.

NETGEAR Trading Down 3.5%

Shares of NASDAQ NTGR traded down $1.06 during trading on Friday, reaching $28.80. The company had a trading volume of 384,170 shares, compared to its average volume of 347,125. NETGEAR, Inc. has a twelve month low of $13.22 and a twelve month high of $31.55. The stock has a market capitalization of $828.92 million, a PE ratio of 72.00 and a beta of 1.09. The stock has a 50-day moving average price of $25.12 and a two-hundred day moving average price of $25.80.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wall Street Zen raised NETGEAR from a "hold" rating to a "buy" rating in a report on Monday, May 5th. Raymond James boosted 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.

About NETGEAR

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.