NETGEAR, Inc. (NTGR) Shares Bought by Morgan Stanley

Morgan Stanley increased its position in NETGEAR, Inc. (NASDAQ:NTGR) by 62.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 298,144 shares of the communications equipment provider’s stock after buying an additional 115,015 shares during the period. Morgan Stanley owned 0.91% of NETGEAR worth $14,772,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its position in shares of NETGEAR by 17.1% in the first quarter. Envestnet Asset Management Inc. now owns 2,080 shares of the communications equipment provider’s stock worth $103,000 after buying an additional 304 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of NETGEAR by 42.8% in the first quarter. Victory Capital Management Inc. now owns 2,724 shares of the communications equipment provider’s stock worth $135,000 after buying an additional 817 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of NETGEAR during the first quarter worth $139,000. US Bancorp DE raised its position in shares of NETGEAR by 9.2% in the first quarter. US Bancorp DE now owns 3,243 shares of the communications equipment provider’s stock worth $161,000 after buying an additional 272 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. raised its position in shares of NETGEAR by 364.8% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 3,500 shares of the communications equipment provider’s stock worth $173,000 after buying an additional 2,747 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

NETGEAR, Inc. (NASDAQ NTGR) opened at 43.35 on Wednesday. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 19.54 and a beta of 1.53. NETGEAR, Inc. has a 52-week low of $41.50 and a 52-week high of $60.82. The stock has a 50 day moving average of $43.85 and a 200-day moving average of $49.66.

NETGEAR (NASDAQ:NTGR) last released its earnings results on Wednesday, April 26th. The communications equipment provider reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The company had revenue of $323.70 million during the quarter, compared to analyst estimates of $309.48 million. NETGEAR had a net margin of 5.61% and a return on equity of 11.30%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 EPS. On average, equities research analysts anticipate that NETGEAR, Inc. will post $2.61 earnings per share for the current fiscal year.

NETGEAR declared that its board has approved a share repurchase plan on Wednesday, April 26th that permits the company to buyback 3,000,000 shares. This buyback authorization permits the communications equipment provider to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

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NTGR has been the subject of a number of research reports. Off Wall Street reiterated a “sell” rating and set a $36.00 target price on shares of NETGEAR in a research report on Monday, March 27th. Zacks Investment Research upgraded shares of NETGEAR from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. Finally, Global Equities Research reiterated a “buy” rating and set a $85.00 target price on shares of NETGEAR in a research report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $62.48.

In other NETGEAR news, CEO Patrick Cs Lo sold 9,900 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $46.79, for a total value of $463,221.00. Following the completion of the transaction, the chief executive officer now directly owns 155,418 shares in the company, valued at approximately $7,272,008.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Tamesa Rogers sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $44.15, for a total value of $66,225.00. Following the completion of the transaction, the senior vice president now owns 23,703 shares of the company’s stock, valued at $1,046,487.45. The disclosure for this sale can be found here. Insiders sold a total of 47,153 shares of company stock valued at $2,118,807 over the last 90 days. 6.20% of the stock is currently owned by corporate insiders.

About NETGEAR

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.

Institutional Ownership by Quarter for NETGEAR (NASDAQ:NTGR)

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