State of Wyoming Takes Position in NETGEAR, Inc. (NASDAQ:NTGR)

State of Wyoming purchased a new position in shares of NETGEAR, Inc. (NASDAQ:NTGR) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,631 shares of the communications equipment provider’s stock, valued at approximately $408,000.

Other large investors also recently bought and sold shares of the company. R Squared Ltd acquired a new stake in NETGEAR in the 4th quarter valued at about $72,000. New York State Teachers Retirement System purchased a new stake in shares of NETGEAR in the fourth quarter valued at approximately $72,000. Summit Investment Advisors Inc. increased its holdings in shares of NETGEAR by 19.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider’s stock valued at $81,000 after purchasing an additional 479 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in NETGEAR during the fourth quarter worth approximately $92,000. Finally, AlphaQuest LLC purchased a new position in NETGEAR during the fourth quarter worth approximately $185,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

NETGEAR Price Performance

Shares of NASDAQ NTGR opened at $30.68 on Wednesday. The company has a market capitalization of $883.03 million, a P/E ratio of 76.70 and a beta of 1.09. NETGEAR, Inc. has a 1 year low of $12.39 and a 1 year high of $31.55. The company has a 50 day simple moving average of $24.78 and a 200-day simple moving average of $25.67.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, April 30th. The communications equipment provider reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.37. NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. The business had revenue of $162.06 million during the quarter, compared to analysts’ expectations of $152.24 million. During the same period last year, the business earned ($0.28) earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, research analysts expect that NETGEAR, Inc. will post -1.84 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com upgraded NETGEAR from a “hold” rating to a “buy” rating in a report on Monday, May 5th. Raymond James upped their price objective on shares of NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a report on Thursday, February 6th.

Insider Activity at NETGEAR

In related news, CFO Murray Bryan sold 2,671 shares of NETGEAR stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $28.09, for a total value of $75,028.39. Following the completion of the transaction, the chief financial officer now directly owns 178,945 shares in the company, valued at approximately $5,026,565.05. This trade represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles J. Prober sold 10,929 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $26.64, for a total value of $291,148.56. Following the transaction, the chief executive officer now directly owns 507,763 shares of the company’s stock, valued at $13,526,806.32. The trade was a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,448 shares of company stock worth $458,221. 7.00% of the stock is currently owned by company insiders.

NETGEAR Profile

NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.