Arizona State Retirement System Acquires Shares of 7,904 NETGEAR, Inc. (NASDAQ:NTGR)

Arizona State Retirement System acquired a new stake in NETGEAR, Inc. (NASDAQ:NTGR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,904 shares of the communications equipment provider’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Quarry LP boosted its stake in NETGEAR by 66.5% in the third quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock valued at $37,000 after acquiring an additional 741 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of NETGEAR by 5.3% during the third quarter. Franklin Resources Inc. now owns 42,673 shares of the communications equipment provider’s stock worth $883,000 after purchasing an additional 2,166 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of NETGEAR by 49.3% during 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 in the last quarter. New York State Teachers Retirement System bought a new position in shares of NETGEAR during the fourth quarter worth $72,000. Finally, R Squared Ltd bought a new position in shares of NETGEAR during the fourth quarter worth $72,000. 82.97% of the stock is owned by institutional investors.

NETGEAR Trading Up 1.1 %

NTGR opened at $23.90 on Friday. The stock has a market capitalization of $689.97 million, a P/E ratio of 59.75 and a beta of 0.72. NETGEAR, Inc. has a 12 month low of $10.48 and a 12 month high of $31.55. The firm’s fifty day simple moving average is $26.73 and its 200 day simple moving average is $23.93.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, February 5th. The communications equipment provider reported ($0.24) EPS for the quarter, meeting the consensus estimate of ($0.24). NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. On average, equities research analysts predict that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.

Insider Activity at NETGEAR

In other NETGEAR news, Director Thomas H. Waechter sold 2,000 shares of NETGEAR stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $30.42, for a total value of $60,840.00. Following the sale, the director now directly owns 61,135 shares in the company, valued at approximately $1,859,726.70. The trade was a 3.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles J. Prober sold 10,929 shares of NETGEAR stock in a transaction on 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 in the company, valued at $13,526,806.32. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NTGR has been the topic of a number of recent analyst reports. StockNews.com raised shares of NETGEAR from a “hold” rating to a “buy” rating in a research report on Thursday. Raymond James lifted their price target on shares of NETGEAR from $22.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th.

About NETGEAR

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.