Fmr LLC Has $295.60 Million Stake in NetGear, Inc. (NTGR)

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Fmr LLC lifted its position in shares of NetGear, Inc. (NASDAQ:NTGR) by 0.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,729,564 shares of the communications equipment provider’s stock after purchasing an additional 22,490 shares during the period. Fmr LLC owned 14.87% of NetGear worth $295,598,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of NetGear by 5.5% during the second quarter. BlackRock Inc. now owns 4,566,762 shares of the communications equipment provider’s stock worth $285,423,000 after purchasing an additional 236,386 shares during the period. First Trust Advisors LP boosted its holdings in shares of NetGear by 3.7% during the second quarter. First Trust Advisors LP now owns 1,437,340 shares of the communications equipment provider’s stock worth $89,834,000 after purchasing an additional 50,642 shares during the period. Northern Trust Corp boosted its holdings in shares of NetGear by 0.7% during the first quarter. Northern Trust Corp now owns 760,450 shares of the communications equipment provider’s stock worth $43,499,000 after purchasing an additional 5,232 shares during the period. Rothschild Asset Management Inc. boosted its holdings in shares of NetGear by 6.9% during the first quarter. Rothschild Asset Management Inc. now owns 605,107 shares of the communications equipment provider’s stock worth $34,612,000 after purchasing an additional 39,168 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of NetGear by 1.0% during the second quarter. Wells Fargo & Company MN now owns 602,314 shares of the communications equipment provider’s stock worth $37,644,000 after purchasing an additional 5,729 shares during the period.

In other NetGear news, Chairman Patrick Cs Lo sold 13,999 shares of the firm’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $63.45, for a total transaction of $888,236.55. Following the completion of the transaction, the chairman now owns 203,279 shares of the company’s stock, valued at $12,898,052.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael F. Falcon sold 520 shares of the firm’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $62.05, for a total transaction of $32,266.00. Following the transaction, the senior vice president now directly owns 40,805 shares of the company’s stock, valued at approximately $2,531,950.25. The disclosure for this sale can be found here. Insiders sold 56,052 shares of company stock valued at $3,740,082 over the last 90 days. 5.10% of the stock is currently owned by company insiders.

NTGR has been the subject of several research analyst reports. BidaskClub lowered shares of NetGear from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 26th. BWS Financial raised their price objective on shares of NetGear from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, July 9th. Raymond James set a $80.00 price objective on shares of NetGear and gave the stock a “buy” rating in a report on Wednesday. Guggenheim restated a “buy” rating on shares of NetGear in a report on Tuesday, August 28th. Finally, TheStreet lowered shares of NetGear from a “b-” rating to a “c+” rating in a report on Monday, August 13th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $72.25.

Shares of NTGR opened at $67.40 on Friday. NetGear, Inc. has a one year low of $44.20 and a one year high of $78.30. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 29.05 and a beta of 2.03.

NetGear (NASDAQ:NTGR) last issued its quarterly earnings data on Monday, July 23rd. The communications equipment provider reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.06. NetGear had a negative net margin of 0.74% and a positive return on equity of 9.97%. The business had revenue of $366.80 million during the quarter, compared to analyst estimates of $350.60 million. During the same period last year, the business posted $0.60 earnings per share. NetGear’s quarterly revenue was up 10.9% compared to the same quarter last year. equities analysts anticipate that NetGear, Inc. will post 2.2 EPS for the current fiscal year.

NetGear Company Profile

NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. The company operates in three segments: Arlo, Connected Home, and Small and Medium Business. It offers smart home/connected home/broadband access products, such as remote video security systems, broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, and WiFi network adapters.

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Institutional Ownership by Quarter for NetGear (NASDAQ:NTGR)

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