Public Employees Retirement System of Ohio Acquires New Position in NETGEAR, Inc. $NTGR

Public Employees Retirement System of Ohio acquired a new position in shares of NETGEAR, Inc. (NASDAQ:NTGR) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 45,055 shares of the communications equipment provider’s stock, valued at approximately $1,052,000. Public Employees Retirement System of Ohio owned 0.17% of NETGEAR at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in NETGEAR during the 2nd quarter valued at about $82,799,000. Windward Management LP acquired a new stake in shares of NETGEAR during the fourth quarter worth about $35,468,000. Concentric Capital Strategies LP purchased a new stake in NETGEAR in the fourth quarter valued at approximately $7,020,000. Lazard Asset Management LLC increased its holdings in NETGEAR by 87.6% in the 3rd quarter. Lazard Asset Management LLC now owns 548,911 shares of the communications equipment provider’s stock worth $17,779,000 after buying an additional 256,266 shares during the period. Finally, Renaissance Technologies LLC raised its position in NETGEAR by 77.8% during the 1st quarter. Renaissance Technologies LLC now owns 557,462 shares of the communications equipment provider’s stock worth $12,175,000 after buying an additional 243,843 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NTGR. Weiss Ratings reaffirmed a “sell (d)” rating on shares of NETGEAR in a report on Wednesday, June 24th. Wall Street Zen upgraded shares of NETGEAR from a “sell” rating to a “hold” rating in a research report on Sunday. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $36.50.

NETGEAR Stock Down 0.8%

NETGEAR stock opened at $21.13 on Wednesday. The business’s 50-day moving average price is $22.72 and its 200 day moving average price is $23.37. The firm has a market cap of $574.29 million, a price-to-earnings ratio of -22.72 and a beta of 1.17. NETGEAR, Inc. has a 52 week low of $19.00 and a 52 week high of $36.86.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Thursday, August 6th. The communications equipment provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.01 by $0.15. NETGEAR had a negative return on equity of 2.79% and a negative net margin of 3.71%.The business had revenue of $168.56 million for the quarter, compared to analyst estimates of $157.80 million. During the same quarter in the prior year, the firm posted $0.06 EPS. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. Equities analysts expect that NETGEAR, Inc. will post -0.52 EPS for the current year.

Insiders Place Their Bets

In other NETGEAR news, insider Pramod Badjate sold 3,000 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $23.88, for a total value of $71,640.00. Following the completion of the transaction, the insider owned 154,073 shares in the company, valued at approximately $3,679,263.24. This represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 3.10% of the company’s stock.

About NETGEAR

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.