Lazard Asset Management LLC grew its position in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 87.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 129,691 shares of the communications equipment provider's stock after acquiring an additional 60,385 shares during the period. Lazard Asset Management LLC owned about 0.45% of NETGEAR worth $3,614,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. raised its stake in NETGEAR by 22.7% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 506,756 shares of the communications equipment provider's stock worth $14,123,000 after buying an additional 93,737 shares in the last quarter. Graham Capital Management L.P. bought a new position in NETGEAR in the fourth quarter worth about $564,000. Centiva Capital LP bought a new position in NETGEAR in the fourth quarter worth about $384,000. Bridgeway Capital Management LLC raised its stake in NETGEAR by 47.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 406,119 shares of the communications equipment provider's stock worth $11,319,000 after buying an additional 131,243 shares in the last quarter. Finally, Caxton Associates LP bought a new position in NETGEAR in the fourth quarter worth about $991,000. 82.97% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research firms recently issued reports on NTGR. Raymond James increased their price target on shares of 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 raised shares of NETGEAR from a "hold" rating to a "buy" rating in a research note on Monday, May 5th.
View Our Latest Research Report on NETGEAR
NETGEAR Trading Up 0.9%
NTGR traded up $0.27 during midday trading on Thursday, reaching $30.24. The company's stock had a trading volume of 73,773 shares, compared to its average volume of 345,698. The firm has a market capitalization of $870.28 million, a price-to-earnings ratio of 75.63 and a beta of 1.09. NETGEAR, Inc. has a 1 year low of $12.45 and a 1 year high of $31.55. The stock's 50-day moving average is $24.90 and its 200-day moving average is $25.70.
NETGEAR (NASDAQ:NTGR - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $162.06 million for the quarter, compared to analysts' expectations of $152.24 million. NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. The business's revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.28) earnings per share. As a group, equities research analysts forecast that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other NETGEAR news, CFO Murray Bryan sold 2,671 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $28.09, for a total value of $75,028.39. Following the sale, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.00% of the company's stock.
About NETGEAR
(
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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