Wells Fargo & Company MN Purchases 3,375 Shares of NETGEAR, Inc. (NASDAQ:NTGR)

Wells Fargo & Company MN boosted its position in NETGEAR, Inc. (NASDAQ:NTGR) by 23.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 17,802 shares of the communications equipment provider’s stock after purchasing an additional 3,375 shares during the period. Wells Fargo & Company MN owned about 0.06% of NETGEAR worth $496,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of NTGR. Franklin Resources Inc. lifted its position in shares of NETGEAR by 5.3% during the 3rd quarter. Franklin Resources Inc. now owns 42,673 shares of the communications equipment provider’s stock valued at $883,000 after acquiring an additional 2,166 shares during the period. New York State Common Retirement Fund increased its position in shares of NETGEAR by 49.3% in the fourth quarter. New York State Common Retirement Fund now owns 7,566 shares of the communications equipment provider’s stock worth $211,000 after purchasing an additional 2,500 shares during the period. New York State Teachers Retirement System acquired a new position in NETGEAR in the fourth quarter valued at about $72,000. R Squared Ltd bought a new stake in NETGEAR during the fourth quarter worth about $72,000. Finally, LPL Financial LLC grew its stake in NETGEAR by 26.3% during the fourth quarter. LPL Financial LLC now owns 14,740 shares of the communications equipment provider’s stock worth $411,000 after buying an additional 3,070 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at NETGEAR

In other NETGEAR news, CFO Murray Bryan sold 2,671 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $28.09, for a total transaction of $75,028.39. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles J. Prober sold 10,929 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $26.64, for a total transaction of $291,148.56. Following the completion of the sale, the chief executive officer now owns 507,763 shares of the company’s stock, valued at approximately $13,526,806.32. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,448 shares of company stock valued at $458,221 over the last three months. Corporate insiders own 7.00% of the company’s stock.

NETGEAR Stock Down 0.6 %

Shares of NETGEAR stock opened at $27.82 on Friday. The stock has a market cap of $800.72 million, a price-to-earnings ratio of 69.55 and a beta of 1.03. NETGEAR, Inc. has a twelve month low of $11.43 and a twelve month high of $31.55. The company’s fifty day moving average is $23.63 and its 200 day moving average is $24.98.

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

Analyst Ratings Changes

Several research analysts have commented on NTGR shares. Raymond James boosted their price objective on shares of NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. StockNews.com cut NETGEAR from a “buy” rating to a “hold” rating in a report on Friday, March 21st.

NETGEAR Company 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.