JPMorgan Chase & Co. Has $1.17 Million Holdings in NetGear, Inc. (NTGR)
JPMorgan Chase & Co. trimmed its stake in NetGear, Inc. (NASDAQ:NTGR) by 32.3% during the third quarter, HoldingsChannel.com reports. The fund owned 24,917 shares of the communications equipment provider’s stock after selling 11,873 shares during the period. JPMorgan Chase & Co.’s holdings in NetGear were worth $1,174,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in shares of NetGear by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,206 shares of the communications equipment provider’s stock valued at $138,000 after acquiring an additional 482 shares during the period. M&T Bank Corp raised its stake in shares of NetGear by 31.5% in the 2nd quarter. M&T Bank Corp now owns 5,428 shares of the communications equipment provider’s stock valued at $234,000 after acquiring an additional 1,300 shares during the period. K.J. Harrison & Partners Inc purchased a new stake in shares of NetGear in the 3rd quarter valued at approximately $286,000. Crossmark Global Holdings Inc. purchased a new stake in shares of NetGear in the 3rd quarter valued at approximately $301,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of NetGear in the 2nd quarter valued at approximately $302,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of NetGear, Inc. (NTGR) opened at $63.45 on Friday. The stock has a market cap of $2,000.00, a P/E ratio of 28.84 and a beta of 1.53. NetGear, Inc. has a 52 week low of $41.50 and a 52 week high of $63.60.
NetGear (NASDAQ:NTGR) last released its quarterly earnings results on Wednesday, October 25th. The communications equipment provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. The business had revenue of $355.48 million for the quarter, compared to the consensus estimate of $349.36 million. NetGear had a net margin of 5.33% and a return on equity of 10.57%. The business’s revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 EPS. analysts anticipate that NetGear, Inc. will post 2.24 EPS for the current year.
A number of equities research analysts have recently issued reports on NTGR shares. Raymond James Financial raised shares of NetGear from a “market perform” rating to an “outperform” rating and set a $62.00 price target on the stock in a research note on Monday, December 18th. BidaskClub downgraded shares of NetGear from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 27th. Zacks Investment Research raised shares of NetGear from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Wednesday. Finally, BWS Financial raised shares of NetGear from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Monday, October 9th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $62.20.
In related news, SVP Patrick J. Collins III sold 8,704 shares of NetGear stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $49.02, for a total value of $426,670.08. Following the completion of the transaction, the senior vice president now owns 19,807 shares in the company, valued at $970,939.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrick Cs Lo sold 13,999 shares of NetGear stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $59.92, for a total transaction of $838,820.08. Following the completion of the transaction, the chief executive officer now owns 183,125 shares of the company’s stock, valued at approximately $10,972,850. The disclosure for this sale can be found here. Insiders sold 82,300 shares of company stock valued at $4,220,161 in the last 90 days. Company insiders own 6.20% of the company’s stock.
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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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