Geode Capital Management LLC Sells 103,299 Shares of Netgear (NTGR)

Geode Capital Management LLC trimmed its holdings in Netgear (NASDAQ:NTGR) by 26.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 284,466 shares of the communications equipment provider’s stock after selling 103,299 shares during the period. Geode Capital Management LLC owned 0.90% of Netgear worth $16,712,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of NTGR. BNP Paribas Arbitrage SA raised its position in shares of Netgear by 20.3% in the third quarter. BNP Paribas Arbitrage SA now owns 18,428 shares of the communications equipment provider’s stock valued at $877,000 after buying an additional 3,110 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Netgear by 132.9% in the third quarter. Russell Investments Group Ltd. now owns 15,264 shares of the communications equipment provider’s stock valued at $727,000 after buying an additional 8,710 shares during the last quarter. American International Group Inc. raised its position in shares of Netgear by 5.3% in the third quarter. American International Group Inc. now owns 25,473 shares of the communications equipment provider’s stock valued at $1,213,000 after buying an additional 1,285 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Netgear by 4.5% in the third quarter. Nordea Investment Management AB now owns 44,388 shares of the communications equipment provider’s stock valued at $2,113,000 after buying an additional 1,926 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Netgear by 2.2% in the third quarter. Legal & General Group Plc now owns 63,492 shares of the communications equipment provider’s stock valued at $3,022,000 after buying an additional 1,391 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

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Shares of NTGR opened at $57.20 on Monday. Netgear has a 12-month low of $41.50 and a 12-month high of $71.42. The stock has a market capitalization of $1,794.99, a P/E ratio of 24.66 and a beta of 1.93.

Netgear (NASDAQ:NTGR) last announced its quarterly earnings data on Tuesday, February 6th. The communications equipment provider reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.07. Netgear had a net margin of 1.38% and a return on equity of 9.92%. The firm had revenue of $397.06 million during the quarter, compared to analyst estimates of $393.27 million. During the same quarter in the prior year, the firm posted $0.88 earnings per share. Netgear’s quarterly revenue was up 11.7% on a year-over-year basis. research analysts expect that Netgear will post 3.26 EPS for the current fiscal year.

In related news, SVP Tamesa Rogers sold 1,500 shares of the company’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $59.40, for a total value of $89,100.00. Following the completion of the sale, the senior vice president now owns 22,542 shares of the company’s stock, valued at $1,338,994.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Patrick J. Collins III sold 416 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $71.00, for a total transaction of $29,536.00. Following the completion of the sale, the senior vice president now directly owns 34,612 shares of the company’s stock, valued at approximately $2,457,452. The disclosure for this sale can be found here. Insiders sold 69,966 shares of company stock valued at $4,269,804 in the last three months. 6.20% of the stock is currently owned by insiders.

A number of equities research analysts have recently commented on NTGR shares. Raymond James Financial upgraded shares of Netgear from a “market perform” rating to an “outperform” rating and set a $62.00 target price for the company in a research report on Monday, December 18th. BidaskClub upgraded shares of Netgear from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 13th. Zacks Investment Research upgraded shares of Netgear from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Wednesday, January 10th. Finally, BWS Financial set a $75.00 target price on shares of Netgear and gave the company a “buy” rating in a research report on Friday, January 12th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $72.50.

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Netgear Company Profile

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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Institutional Ownership by Quarter for Netgear (NASDAQ:NTGR)

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