Great West Life Assurance Co. Can purchased a new position in NETGEAR, Inc. (NASDAQ:NTGR – Get Rating) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 32,307 shares of the communications equipment provider's stock, valued at approximately $647,000. Great West Life Assurance Co. Can owned 0.11% of NETGEAR as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gladius Capital Management LP acquired a new position in shares of NETGEAR during the 2nd quarter valued at $27,000. Wipfli Financial Advisors LLC acquired a new position in shares of NETGEAR during the 3rd quarter valued at $33,000. KBC Group NV acquired a new position in shares of NETGEAR during the 2nd quarter valued at $44,000. Lazard Asset Management LLC acquired a new position in shares of NETGEAR during the 1st quarter valued at $66,000. Finally, Captrust Financial Advisors lifted its position in shares of NETGEAR by 20.1% during the 1st quarter. Captrust Financial Advisors now owns 3,082 shares of the communications equipment provider's stock valued at $76,000 after acquiring an additional 515 shares during the period. Institutional investors and hedge funds own 85.22% of the company's stock.
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Wall Street Analyst Weigh In
A number of research firms recently issued reports on NTGR. StockNews.com began coverage on shares of NETGEAR in a research report on Wednesday, October 12th. They set a "hold" rating on the stock. Raymond James dropped their target price on shares of NETGEAR from $25.00 to $23.00 and set an "outperform" rating on the stock in a research report on Thursday, October 27th.
NETGEAR Trading Down 6.0 %
Shares of NTGR stock opened at $19.32 on Friday. The firm has a market capitalization of $558.35 million, a PE ratio of -8.86 and a beta of 0.91. The firm has a fifty day simple moving average of $19.50 and a two-hundred day simple moving average of $20.99. NETGEAR, Inc. has a 12 month low of $17.40 and a 12 month high of $29.24.
NETGEAR (NASDAQ:NTGR – Get Rating) last announced its quarterly earnings results on Wednesday, February 1st. The communications equipment provider reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.05. The business had revenue of $249.10 million during the quarter, compared to analyst estimates of $243.52 million. NETGEAR had a negative net margin of 6.84% and a negative return on equity of 9.94%. NETGEAR's quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.03) EPS. On average, equities analysts predict that NETGEAR, Inc. will post -2.36 earnings per share for the current fiscal year.
Insider Transactions at NETGEAR
In other news, SVP Vikram Mehta sold 1,850 shares of the company's stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $19.32, for a total value of $35,742.00. Following the completion of the sale, the senior vice president now owns 42,970 shares in the company, valued at approximately $830,180.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Martin Westhead sold 2,044 shares of the company's stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $18.14, for a total value of $37,078.16. Following the completion of the sale, the insider now owns 42,970 shares in the company, valued at approximately $779,475.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Vikram Mehta sold 1,850 shares of the company's stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $19.32, for a total transaction of $35,742.00. Following the completion of the sale, the senior vice president now owns 42,970 shares of the company's stock, valued at approximately $830,180.40. The disclosure for this sale can be found here. Company insiders own 5.10% of the company's stock.
About NETGEAR
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NETGEAR, Inc engages in the provision of Internet connected products to consumers, businesses, and service providers. It operates through the following segments: Connected Home, and Small & Medium Business. The Connected Home segment focuses on consumers and consists of high-performance, dependable and easy-to-use WiFi Internet networking solutions such as WiFi mesh systems, routers, 4G/5G mobile products, smart devices such as Meural digital canvasses, and services offering consumers a range of parental controls and cyber security for their home networks.
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