Amundi Invests $653,000 in NETGEAR, Inc. (NASDAQ:NTGR)

Amundi purchased a new position in shares of NETGEAR, Inc. (NASDAQ:NTGR) during the fourth quarter, HoldingsChannel reports. The firm purchased 24,218 shares of the communications equipment provider’s stock, valued at approximately $653,000.

Other hedge funds also recently modified their holdings of the company. Quarry LP lifted its holdings in shares of NETGEAR by 66.5% during the third quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock worth $37,000 after purchasing an additional 741 shares during the period. New York State Teachers Retirement System acquired a new position in shares of NETGEAR during the fourth quarter worth $72,000. R Squared Ltd acquired a new position in shares of NETGEAR during the fourth quarter worth $72,000. Meeder Asset Management Inc. acquired a new stake in shares of NETGEAR during the third quarter worth $91,000. Finally, New York State Common Retirement Fund raised its stake in 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 buying an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

NETGEAR Trading Up 3.9 %

NASDAQ:NTGR opened at $24.79 on Thursday. The stock has a market capitalization of $715.66 million, a price-to-earnings ratio of 61.98 and a beta of 0.72. The firm has a fifty day simple moving average of $26.54 and a two-hundred day simple moving average of $24.09. NETGEAR, Inc. has a 12 month low of $10.48 and a 12 month high of $31.55.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) EPS for the quarter, hitting analysts’ consensus estimates of ($0.24). NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. Equities analysts predict that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on NTGR shares. StockNews.com upgraded shares of NETGEAR from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Raymond James boosted their target price on shares of NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a report on Thursday, February 6th.

Insiders Place Their Bets

In other NETGEAR news, 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 transaction, the chief executive officer now directly owns 507,763 shares of the company’s stock, valued at $13,526,806.32. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Murray Bryan sold 3,848 shares of NETGEAR stock in a transaction on Friday, March 14th. The stock was sold at an average price of $23.92, for a total transaction of $92,044.16. Following the transaction, the chief financial officer now directly owns 193,032 shares in the company, valued at $4,617,325.44. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.

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.