Park West Asset Management LLC trimmed its holdings in NetGear, Inc. (NASDAQ:NTGR) by 56.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 340,043 shares of the communications equipment provider’s stock after selling 434,634 shares during the quarter. Park West Asset Management LLC owned approximately 1.08% of NetGear worth $19,450,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in NTGR. Advisory Services Network LLC increased its holdings in shares of NetGear by 10,500.0% in the 4th quarter. Advisory Services Network LLC now owns 2,014 shares of the communications equipment provider’s stock valued at $118,000 after acquiring an additional 1,995 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of NetGear by 126.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,378 shares of the communications equipment provider’s stock valued at $140,000 after acquiring an additional 1,330 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of NetGear by 44.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,858 shares of the communications equipment provider’s stock valued at $168,000 after acquiring an additional 884 shares during the period. Delpha Capital Management LLC acquired a new position in shares of NetGear in the 4th quarter valued at $186,000. Finally, Xact Kapitalforvaltning AB acquired a new position in shares of NetGear in the 4th quarter valued at $225,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.
NTGR has been the topic of a number of recent research reports. Guggenheim reaffirmed a “buy” rating and issued a $76.00 target price on shares of NetGear in a report on Friday, April 27th. Zacks Investment Research cut shares of NetGear from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Finally, ValuEngine raised shares of NetGear from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. NetGear has an average rating of “Buy” and a consensus target price of $70.25.
NetGear opened at $64.80 on Thursday, Marketbeat.com reports. NetGear, Inc. has a 1-year low of $42.60 and a 1-year high of $71.42. The firm has a market capitalization of $2.03 billion, a P/E ratio of 27.93 and a beta of 1.93.
NetGear (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, April 25th. The communications equipment provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. NetGear had a net margin of 0.63% and a return on equity of 9.63%. The firm had revenue of $345.00 million for the quarter, compared to analyst estimates of $342.58 million. During the same period last year, the firm posted $0.64 EPS. NetGear’s quarterly revenue was up 6.6% on a year-over-year basis. equities analysts anticipate that NetGear, Inc. will post 2.64 earnings per share for the current year.
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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