American Century Companies Inc. Acquires 204,734 Shares of NETGEAR, Inc. (NASDAQ:NTGR)

American Century Companies Inc. grew its holdings in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 137.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 353,893 shares of the communications equipment provider’s stock after purchasing an additional 204,734 shares during the quarter. American Century Companies Inc.’s holdings in NETGEAR were worth $5,415,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NTGR. Price T Rowe Associates Inc. MD lifted its holdings in shares of NETGEAR by 3.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 37,779 shares of the communications equipment provider’s stock worth $596,000 after purchasing an additional 1,247 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of NETGEAR by 4.2% in the 2nd quarter. Rhumbline Advisers now owns 47,101 shares of the communications equipment provider’s stock worth $721,000 after purchasing an additional 1,904 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of NETGEAR in the 1st quarter worth $30,000. Donald Smith & CO. Inc. lifted its holdings in shares of NETGEAR by 0.7% in the 1st quarter. Donald Smith & CO. Inc. now owns 294,200 shares of the communications equipment provider’s stock worth $4,640,000 after purchasing an additional 2,008 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of NETGEAR in the 4th quarter worth $53,000. 82.97% of the stock is currently owned by institutional investors.

Insider Activity at NETGEAR

In related news, Director Thomas H. Waechter sold 2,500 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $20.00, for a total value of $50,000.00. Following the completion of the sale, the director now directly owns 65,318 shares of the company’s stock, valued at approximately $1,306,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 7.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut NETGEAR from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th.

NETGEAR Trading Up 3.5 %

NASDAQ NTGR opened at $20.77 on Wednesday. The firm has a market capitalization of $604.41 million, a P/E ratio of -5.39 and a beta of 0.82. The business has a fifty day simple moving average of $16.62 and a 200 day simple moving average of $15.11. NETGEAR, Inc. has a 12 month low of $10.40 and a 12 month high of $22.62.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings results on Wednesday, July 31st. The communications equipment provider reported ($0.94) EPS for the quarter, meeting analysts’ consensus estimates of ($0.94). The business had revenue of $143.90 million during the quarter, compared to analyst estimates of $132.69 million. NETGEAR had a negative return on equity of 7.52% and a negative net margin of 21.62%. As a group, sell-side analysts predict that NETGEAR, Inc. will post -2.29 EPS for the current fiscal year.

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.