Invesco Ltd. raised its stake in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 11.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 138,779 shares of the communications equipment provider's stock after buying an additional 14,777 shares during the quarter. Invesco Ltd. owned about 0.48% of NETGEAR worth $3,868,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the stock. American Century Companies Inc. lifted its position in NETGEAR by 31.6% during the fourth quarter. American Century Companies Inc. now owns 770,464 shares of the communications equipment provider's stock worth $21,473,000 after buying an additional 184,863 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of NETGEAR by 126.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 675,209 shares of the communications equipment provider's stock worth $18,818,000 after acquiring an additional 376,974 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of NETGEAR by 17.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 170,281 shares of the communications equipment provider's stock worth $4,746,000 after acquiring an additional 24,868 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in shares of NETGEAR in the 4th quarter valued at $4,449,000. Finally, Trexquant Investment LP lifted its holdings in shares of NETGEAR by 149.5% during the 4th quarter. Trexquant Investment LP now owns 154,104 shares of the communications equipment provider's stock valued at $4,295,000 after acquiring an additional 92,335 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.
NETGEAR Stock Performance
Shares of NETGEAR stock traded up $0.12 during trading on Wednesday, reaching $24.12. The company had a trading volume of 482,368 shares, compared to its average volume of 335,252. The company has a market cap of $694.22 million, a price-to-earnings ratio of 60.30 and a beta of 1.03. NETGEAR, Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $31.55. The firm's fifty day moving average is $23.58 and its 200-day moving average is $24.87.
NETGEAR (NASDAQ:NTGR - Get Free Report) last issued its earnings results on Wednesday, April 30th. The communications equipment provider reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.18. NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. On average, research analysts anticipate that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on NTGR. StockNews.com downgraded shares of NETGEAR from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Raymond James lifted their price objective on NETGEAR from $22.00 to $29.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th.
View Our Latest Stock Report on NTGR
Insider Transactions at NETGEAR
In other NETGEAR news, CFO Murray Bryan sold 3,848 shares of NETGEAR stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $23.92, for a total value of $92,044.16. Following the completion of the transaction, the chief financial officer now directly owns 193,032 shares in the company, valued at $4,617,325.44. The trade was a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Charles J. Prober sold 10,929 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $26.64, for a total value of $291,148.56. Following the completion of the sale, the chief executive officer now directly owns 507,763 shares in the company, valued at $13,526,806.32. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.00% of the company's stock.
NETGEAR Profile
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Free Report)
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.
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