Principal Financial Group Inc. Has $1.64 Million Stock Holdings in NETGEAR, Inc. $NTGR

Principal Financial Group Inc. increased its position in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 118.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,646 shares of the communications equipment provider’s stock after purchasing an additional 27,513 shares during the quarter. Principal Financial Group Inc. owned 0.17% of NETGEAR worth $1,640,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. FNY Investment Advisers LLC bought a new position in NETGEAR in the second quarter valued at about $58,000. Rexford Capital Inc. bought a new stake in shares of NETGEAR in the 2nd quarter valued at $58,000. Tower Research Capital LLC TRC boosted its position in NETGEAR by 35.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the communications equipment provider’s stock valued at $101,000 after acquiring an additional 904 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in NETGEAR by 242.6% during the second quarter. CANADA LIFE ASSURANCE Co now owns 4,087 shares of the communications equipment provider’s stock worth $119,000 after purchasing an additional 2,894 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of NETGEAR by 2,530.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the communications equipment provider’s stock valued at $153,000 after acquiring an additional 5,060 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NTGR shares. Zacks Research downgraded NETGEAR from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. Wall Street Zen lowered NETGEAR from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a research report on Monday, December 29th. Raymond James Financial boosted their price objective on shares of NETGEAR from $29.00 to $37.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, Stifel Nicolaus set a $36.00 target price on shares of NETGEAR in a research note on Thursday, February 5th. Two research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, NETGEAR presently has a consensus rating of “Hold” and an average target price of $36.00.

NETGEAR Stock Performance

Shares of NASDAQ:NTGR opened at $21.26 on Wednesday. The firm has a market capitalization of $603.78 million, a PE ratio of -34.29 and a beta of 1.15. NETGEAR, Inc. has a 52-week low of $18.75 and a 52-week high of $36.86. The firm has a fifty day moving average of $22.77 and a 200 day moving average of $26.62.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, February 4th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.21. The firm had revenue of $182.47 million during 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%.The company’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) earnings per share. On average, sell-side analysts forecast that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Pramod Badjate sold 3,000 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $20.97, for a total transaction of $62,910.00. Following the transaction, the insider owned 144,586 shares of the company’s stock, valued at approximately $3,031,968.42. This trade represents a 2.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is owned by insiders.

NETGEAR Company 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.