Public Employees Retirement System of Ohio bought a new stake in shares of NETGEAR, Inc. (NASDAQ:NTGR – Free Report) during the second quarter, Holdings Channel reports. The fund bought 45,055 shares of the communications equipment provider’s stock, valued at approximately $1,052,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE acquired a new position in NETGEAR during the second quarter worth $3,719,000. Jupiter Topco LLC purchased a new position in NETGEAR during the second quarter valued at $302,000. Hsbc Holdings PLC acquired a new stake in shares of NETGEAR in the second quarter valued at about $1,707,000. Manatuck Hill Partners LLC acquired a new stake in shares of NETGEAR in the second quarter valued at about $3,736,000. Finally, Legal & General Group Plc purchased a new stake in shares of NETGEAR during the second quarter worth about $532,000. Institutional investors and hedge funds own 82.97% of the company’s stock.
Insider Activity at NETGEAR
In related news, insider Pramod Badjate sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $23.88, for a total value of $71,640.00. Following the transaction, the insider directly owned 154,073 shares in the company, valued at approximately $3,679,263.24. This represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 3.10% of the company’s stock.
Analysts Set New Price Targets
Read Our Latest Research Report on NTGR
NETGEAR Stock Down 0.8%
Shares of NTGR opened at $21.13 on Wednesday. NETGEAR, Inc. has a 52-week low of $19.00 and a 52-week high of $36.86. The stock has a fifty day simple moving average of $22.72 and a two-hundred day simple moving average of $23.37. The company has a market capitalization of $574.29 million, a PE ratio of -22.72 and a beta of 1.17.
NETGEAR (NASDAQ:NTGR – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.15. The firm had revenue of $168.56 million during the quarter, compared to analyst estimates of $157.80 million. NETGEAR had a negative net margin of 3.71% and a negative return on equity of 2.79%. NETGEAR’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.06 earnings per share. As a group, equities analysts anticipate that NETGEAR, Inc. will post -0.52 earnings per share for the current fiscal year.
NETGEAR Company Profile
NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.
Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.
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