American Century Companies Inc. Acquires 184,863 Shares of NETGEAR, Inc. (NASDAQ:NTGR)

American Century Companies Inc. raised its holdings in NETGEAR, Inc. (NASDAQ:NTGR) by 31.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 770,464 shares of the communications equipment provider’s stock after purchasing an additional 184,863 shares during the period. American Century Companies Inc.’s holdings in NETGEAR were worth $21,473,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Quarry LP grew its stake 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. R Squared Ltd bought a new position in NETGEAR during the fourth quarter worth about $72,000. New York State Teachers Retirement System acquired a new position in shares of NETGEAR during the 4th quarter worth about $72,000. Picton Mahoney Asset Management bought a new stake in shares of NETGEAR in the 4th quarter valued at about $92,000. Finally, AlphaQuest LLC acquired a new stake in shares of NETGEAR in the 4th quarter valued at approximately $185,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

NETGEAR Stock Performance

Shares of NTGR opened at $24.72 on Monday. The stock has a 50 day simple moving average of $26.25 and a 200 day simple moving average of $24.56. NETGEAR, Inc. has a 52-week low of $10.48 and a 52-week high of $31.55. The firm has a market capitalization of $713.64 million, a PE ratio of 61.80 and a beta of 0.72.

NETGEAR (NASDAQ:NTGR) last announced its earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share 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 research analysts predict that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NTGR shares. StockNews.com downgraded shares of NETGEAR from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Raymond James upped their price objective on shares of NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th.

Insider Activity

In other NETGEAR news, CFO Murray Bryan sold 3,848 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $23.92, for a total value of $92,044.16. Following the completion of the transaction, the chief financial officer now directly owns 193,032 shares in the company, valued at $4,617,325.44. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles J. Prober sold 10,929 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $26.64, for a total transaction of $291,148.56. Following the transaction, the chief executive officer now owns 507,763 shares in the company, valued at approximately $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 owned by corporate insiders.

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.