TIAA CREF Investment Management LLC Decreases Holdings in Netgear (NTGR)

TIAA CREF Investment Management LLC trimmed its position in shares of Netgear (NASDAQ:NTGR) by 6.5% during the fourth quarter, HoldingsChannel reports. The firm owned 103,799 shares of the communications equipment provider’s stock after selling 7,196 shares during the quarter. TIAA CREF Investment Management LLC’s holdings in Netgear were worth $6,098,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in NTGR. Majedie Asset Management Ltd acquired a new position in Netgear during the fourth quarter worth $10,593,000. First Trust Advisors LP lifted its stake in Netgear by 12.2% during the fourth quarter. First Trust Advisors LP now owns 1,167,474 shares of the communications equipment provider’s stock worth $68,589,000 after purchasing an additional 127,046 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Netgear by 1,300.5% during the fourth quarter. Acadian Asset Management LLC now owns 112,696 shares of the communications equipment provider’s stock worth $6,621,000 after purchasing an additional 104,649 shares in the last quarter. Spark Investment Management LLC acquired a new position in Netgear during the fourth quarter worth $4,018,000. Finally, Mackenzie Financial Corp acquired a new position in Netgear during the fourth quarter worth $2,215,000. Institutional investors own 97.52% of the company’s stock.

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NTGR has been the topic of a number of research reports. BWS Financial set a $75.00 price target on Netgear and gave the stock a “buy” rating in a research note on Friday, January 12th. BidaskClub upgraded Netgear from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 21st. Raymond James Financial upgraded Netgear from a “market perform” rating to an “outperform” rating and set a $62.00 price objective on the stock in a research note on Monday, December 18th. Finally, Zacks Investment Research upgraded Netgear from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Netgear presently has a consensus rating of “Buy” and an average price target of $72.50.

Shares of NASDAQ NTGR opened at $60.85 on Monday. The firm has a market capitalization of $1,901.70, a PE ratio of 26.23 and a beta of 1.91. Netgear has a 12-month low of $41.50 and a 12-month high of $71.42.

Netgear (NASDAQ:NTGR) last announced its quarterly earnings data on Tuesday, February 6th. The communications equipment provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.07. The business had revenue of $397.06 million for the quarter, compared to analysts’ expectations of $393.27 million. Netgear had a return on equity of 9.92% and a net margin of 1.38%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the firm earned $0.88 earnings per share. analysts anticipate that Netgear will post 3.26 EPS for the current year.

In other news, SVP Andrew Wonki Kim sold 547 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $60.80, for a total value of $33,257.60. Following the sale, the senior vice president now directly owns 37,792 shares in the company, valued at $2,297,753.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Patrick J. Collins III sold 416 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $71.00, for a total value of $29,536.00. Following the completion of the sale, the senior vice president now owns 34,612 shares in the company, valued at $2,457,452. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,718 shares of company stock worth $4,074,378. Insiders own 6.20% of the company’s stock.

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Netgear 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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