Laurion Capital Management LP bought a new stake in NETGEAR, Inc. (NASDAQ:NTGR) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 42,600 shares of the communications equipment provider’s stock, valued at approximately $1,836,000. Laurion Capital Management LP owned about 0.13% of NETGEAR at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of NTGR. BlackRock Inc. lifted its position in NETGEAR by 38,710.4% in the first quarter. BlackRock Inc. now owns 4,184,534 shares of the communications equipment provider’s stock valued at $207,344,000 after buying an additional 4,173,752 shares during the last quarter. Royce & Associates LP lifted its position in NETGEAR by 43,220.6% in the second quarter. Royce & Associates LP now owns 779,771 shares of the communications equipment provider’s stock valued at $33,608,000 after buying an additional 777,971 shares during the last quarter. Bank of New York Mellon Corp lifted its position in NETGEAR by 54.8% in the first quarter. Bank of New York Mellon Corp now owns 1,291,319 shares of the communications equipment provider’s stock valued at $63,985,000 after buying an additional 456,929 shares during the last quarter. Alliancebernstein L.P. lifted its position in NETGEAR by 28.2% in the second quarter. Alliancebernstein L.P. now owns 1,417,760 shares of the communications equipment provider’s stock valued at $61,105,000 after buying an additional 311,735 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in NETGEAR in the second quarter valued at about $12,722,000. 98.85% of the stock is currently owned by institutional investors.
Shares of NETGEAR, Inc. (NTGR) opened at 47.10 on Thursday. NETGEAR, Inc. has a 52 week low of $41.50 and a 52 week high of $60.82. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 21.62 and a beta of 1.54. The firm’s 50-day moving average is $47.02 and its 200-day moving average is $46.87.
NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, July 26th. The communications equipment provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.06. The business had revenue of $330.72 million for the quarter, compared to analyst estimates of $324.64 million. NETGEAR had a return on equity of 10.67% and a net margin of 5.42%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 EPS. On average, equities research analysts anticipate that NETGEAR, Inc. will post $2.74 EPS for the current fiscal year.
In other news, SVP Michael A. Werdann sold 8,153 shares of NETGEAR stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $43.01, for a total value of $350,660.53. Following the transaction, the senior vice president now directly owns 30,092 shares of the company’s stock, valued at approximately $1,294,256.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael A. Werdann sold 750 shares of NETGEAR stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $45.35, for a total value of $34,012.50. Following the completion of the transaction, the senior vice president now directly owns 26,625 shares in the company, valued at $1,207,443.75. The disclosure for this sale can be found here. Insiders sold a total of 66,128 shares of company stock worth $3,065,616 over the last ninety days. Corporate insiders own 6.20% of the company’s stock.
NTGR has been the topic of a number of recent analyst reports. Global Equities Research reaffirmed a “buy” rating and issued a $85.00 target price on shares of NETGEAR in a research report on Tuesday, June 13th. Zacks Investment Research cut shares of NETGEAR from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $61.97.
NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.
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