Franklin Resources Inc. lifted its stake in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 115.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 91,896 shares of the communications equipment provider's stock after purchasing an additional 49,223 shares during the quarter. Franklin Resources Inc. owned 0.32% of NETGEAR worth $2,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in NTGR. Rhumbline Advisers lifted its position in NETGEAR by 32.0% in the 4th quarter. Rhumbline Advisers now owns 69,841 shares of the communications equipment provider's stock worth $1,946,000 after buying an additional 16,920 shares in the last quarter. Bailard Inc. acquired a new position in shares of NETGEAR in the fourth quarter worth $362,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of NETGEAR by 285.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 79,693 shares of the communications equipment provider's stock worth $2,221,000 after acquiring an additional 59,005 shares in the last quarter. Inspire Investing LLC acquired a new stake in NETGEAR during the fourth quarter valued at $852,000. Finally, Amundi purchased a new position in NETGEAR in the fourth quarter valued at about $653,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.
NETGEAR Price Performance
NASDAQ NTGR opened at $22.64 on Friday. The company's fifty day moving average is $25.01 and its two-hundred day moving average is $24.64. NETGEAR, Inc. has a 52-week low of $10.48 and a 52-week high of $31.55. The firm has a market capitalization of $653.59 million, a price-to-earnings ratio of 56.60 and a beta of 1.03.
NETGEAR (NASDAQ:NTGR - Get Free Report) last issued its earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) EPS for the quarter, meeting analysts' consensus estimates of ($0.24). NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. As a group, sell-side analysts expect that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
NTGR has been the subject of several research reports. Raymond James lifted their price target on NETGEAR from $22.00 to $29.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. StockNews.com cut shares of NETGEAR from a "buy" rating to a "hold" rating in a research note on Friday, March 21st.
Read Our Latest Research Report on NETGEAR
Insider Buying and Selling at NETGEAR
In other NETGEAR news, CEO Charles J. Prober sold 10,929 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $26.64, for a total value of $291,148.56. Following the transaction, the chief executive officer now directly owns 507,763 shares in the company, valued at $13,526,806.32. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Murray Bryan sold 3,848 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $23.92, for a total transaction of $92,044.16. Following the sale, the chief financial officer now directly owns 193,032 shares of the company's stock, valued at approximately $4,617,325.44. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.00% of the company's stock.
NETGEAR Company Profile
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Free Report)
NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.
Further Reading
Want to see what other hedge funds are holding NTGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NETGEAR, Inc. (NASDAQ:NTGR - Free Report).
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