Global X MANAGEMENT CO LLC Has $679,000 Stake in NETGEAR, Inc. (NTGR)
Global X MANAGEMENT CO LLC lifted its holdings in NETGEAR, Inc. (NASDAQ:NTGR) by 14.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,274 shares of the communications equipment provider’s stock after buying an additional 1,819 shares during the quarter. Global X MANAGEMENT CO LLC’s holdings in NETGEAR were worth $679,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Royce & Associates LP raised its stake in NETGEAR by 43,220.6% during the 2nd quarter. Royce & Associates LP now owns 779,771 shares of the communications equipment provider’s stock worth $33,608,000 after acquiring an additional 777,971 shares during the period. Bank of New York Mellon Corp boosted its holdings in NETGEAR by 33.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,720,748 shares of the communications equipment provider’s stock valued at $74,165,000 after acquiring an additional 429,429 shares during the period. Alliancebernstein L.P. boosted its holdings in NETGEAR by 28.2% during the 2nd quarter. Alliancebernstein L.P. now owns 1,417,760 shares of the communications equipment provider’s stock valued at $61,105,000 after acquiring an additional 311,735 shares during the period. Marshall Wace North America L.P. purchased a new position in NETGEAR during the 2nd quarter valued at about $12,722,000. Finally, First Trust Advisors LP boosted its holdings in NETGEAR by 34.5% during the 2nd quarter. First Trust Advisors LP now owns 1,154,306 shares of the communications equipment provider’s stock valued at $49,751,000 after acquiring an additional 295,823 shares during the period. 98.85% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NETGEAR, Inc. (NTGR) opened at $51.35 on Friday. The firm has a market capitalization of $1,562.48, a P/E ratio of 19.94 and a beta of 1.50. NETGEAR, Inc. has a 1 year low of $41.50 and a 1 year high of $59.92.
NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, October 25th. The communications equipment provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. The business had revenue of $355.48 million for the quarter, compared to analysts’ expectations of $349.36 million. NETGEAR had a return on equity of 10.57% and a net margin of 5.33%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 EPS. research analysts expect that NETGEAR, Inc. will post 2.24 EPS for the current year.
A number of equities analysts recently commented on the company. Zacks Investment Research cut NETGEAR from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. BWS Financial upgraded NETGEAR from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. NETGEAR currently has an average rating of “Hold” and a consensus target price of $62.75.
In related news, insider Mark G. Merrill sold 3,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $49.79, for a total value of $149,370.00. Following the sale, the insider now directly owns 32,534 shares of the company’s stock, valued at approximately $1,619,867.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Patrick Cs Lo sold 9,900 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $47.91, for a total transaction of $474,309.00. Following the sale, the chairman now directly owns 183,125 shares in the company, valued at $8,773,518.75. The disclosure for this sale can be found here. Insiders sold a total of 91,881 shares of company stock valued at $4,401,588 over the last three months. Corporate insiders own 6.20% of the company’s stock.
NETGEAR Company Profile
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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