Squarepoint Ops LLC lifted its stake in shares of NetGear, Inc. (NASDAQ:NTGR) by 62.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 93,925 shares of the communications equipment provider’s stock after buying an additional 36,145 shares during the quarter. Squarepoint Ops LLC’s holdings in NetGear were worth $3,026,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Oregon Public Employees Retirement Fund bought a new position in shares of NetGear during the second quarter valued at approximately $314,000. Arizona State Retirement System bought a new position in shares of NetGear during the second quarter worth about $1,235,000. Virginia Retirement Systems ET AL acquired a new stake in shares of NetGear in the 2nd quarter worth about $577,000. Systematic Financial Management LP acquired a new stake in shares of NetGear in the second quarter valued at approximately $5,379,000. Finally, SG Americas Securities LLC acquired a new position in shares of NetGear during the second quarter worth approximately $253,000. 99.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of NetGear stock opened at $24.42 on Friday. The company has a quick ratio of 1.66, a current ratio of 2.67 and a debt-to-equity ratio of 0.04. The firm has a market cap of $735.01 million, a price-to-earnings ratio of 14.03 and a beta of 1.59. The business has a fifty day simple moving average of $27.16 and a 200-day simple moving average of $29.21. NetGear, Inc. has a fifty-two week low of $24.02 and a fifty-two week high of $54.17.
NetGear (NASDAQ:NTGR) last announced its earnings results on Wednesday, October 23rd. The communications equipment provider reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.27. NetGear had a return on equity of 7.48% and a net margin of 1.28%. The business had revenue of $265.90 million during the quarter, compared to analysts’ expectations of $272.22 million. During the same quarter last year, the business posted $0.76 earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis. Analysts anticipate that NetGear, Inc. will post 0.89 earnings per share for the current fiscal year.
Several brokerages have weighed in on NTGR. BidaskClub downgraded NetGear from a “sell” rating to a “strong sell” rating in a research note on Monday, November 25th. ValuEngine downgraded shares of NetGear from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Guggenheim set a $44.00 target price on shares of NetGear and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, BWS Financial raised NetGear from a “hold” rating to a “buy” rating and dropped their target price for the stock from $65.00 to $45.00 in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.75.
In other NetGear news, SVP Michael A. Werdann sold 1,489 shares of NetGear stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $34.90, for a total value of $51,966.10. Following the transaction, the senior vice president now owns 31,292 shares in the company, valued at $1,092,090.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jef Graham sold 3,491 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $35.00, for a total value of $122,185.00. Following the completion of the transaction, the director now directly owns 12,898 shares in the company, valued at approximately $451,430. The disclosure for this sale can be found here. Insiders sold a total of 21,517 shares of company stock valued at $720,984 over the last three months. 5.60% of the stock is owned by corporate insiders.
NetGear Company Profile
NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. It operates in two segments, Connected Home, and Small and Medium Business. The company offers smart home/connected home/broadband access products, such as broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, WiFi network adapters, and digital canvasses; and value added service offerings, including technical support, parental controls, and cybersecurity protection.
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