NETGEAR, Inc. $NTGR Stock Holdings Boosted by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its position in NETGEAR, Inc. (NASDAQ:NTGR) by 169.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 109,322 shares of the communications equipment provider’s stock after acquiring an additional 68,683 shares during the period. Allianz Asset Management GmbH owned approximately 0.38% of NETGEAR worth $3,541,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NTGR. Amundi raised its holdings in shares of NETGEAR by 99.1% during the first quarter. Amundi now owns 48,211 shares of the communications equipment provider’s stock valued at $1,179,000 after buying an additional 23,993 shares during the last quarter. Goldman Sachs Group Inc. increased its position in NETGEAR by 15.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 279,874 shares of the communications equipment provider’s stock valued at $6,846,000 after acquiring an additional 37,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in NETGEAR by 13.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,146 shares of the communications equipment provider’s stock valued at $1,814,000 after acquiring an additional 9,021 shares in the last quarter. KLP Kapitalforvaltning AS boosted its position in NETGEAR by 67.9% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 28,200 shares of the communications equipment provider’s stock worth $820,000 after acquiring an additional 11,400 shares during the period. Finally, Ritholtz Wealth Management grew its stake in shares of NETGEAR by 6.8% in the second quarter. Ritholtz Wealth Management now owns 21,596 shares of the communications equipment provider’s stock worth $628,000 after purchasing an additional 1,371 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Pramod Badjate sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $24.60, for a total transaction of $98,400.00. Following the completion of the transaction, the insider directly owned 155,361 shares of the company’s stock, valued at approximately $3,821,880.60. This trade represents a 2.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NTGR. Raymond James Financial upped their price objective on shares of NETGEAR from $29.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Stifel Nicolaus set a $36.00 price target on shares of NETGEAR in a research note on Thursday, February 5th. Zacks Research lowered shares of NETGEAR from a “hold” rating to a “strong sell” rating in a research note on Monday. Wall Street Zen cut NETGEAR from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of NETGEAR in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $36.00.

NETGEAR Stock Down 0.4%

Shares of NTGR opened at $20.53 on Thursday. The stock’s 50-day moving average price is $23.20 and its 200 day moving average price is $26.69. The firm has a market capitalization of $583.11 million, a price-to-earnings ratio of -33.11 and a beta of 1.15. NETGEAR, Inc. has a 12-month low of $18.75 and a 12-month high of $36.86.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings data on Wednesday, February 4th. The communications equipment provider reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.21. The company had revenue of $182.47 million for the quarter, compared to analyst estimates of $177.26 million. NETGEAR had a negative return on equity of 2.40% and a negative net margin of 2.56%.NETGEAR’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.06) EPS. Equities research analysts expect that NETGEAR, Inc. will post -1.84 EPS for the current year.

NETGEAR Profile

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.