New York State Teachers Retirement System Takes Position in NetGear, Inc. (NASDAQ:NTGR)

New York State Teachers Retirement System bought a new stake in shares of NetGear, Inc. (NASDAQ:NTGR) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 75,437 shares of the communications equipment provider’s stock, valued at approximately $1,908,000. New York State Teachers Retirement System owned 0.24% of NetGear at the end of the most recent quarter.

Separately, Oregon Public Employees Retirement Fund bought a new position in shares of NetGear during the second quarter valued at $314,000. Institutional investors own 99.41% of the company’s stock.

In other NetGear news, Chairman Patrick Cs Lo sold 34,764 shares of NetGear stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $33.04, for a total value of $1,148,602.56. Following the completion of the sale, the chairman now directly owns 273,057 shares of the company’s stock, valued at $9,021,803.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Tamesa Rogers sold 3,724 shares of NetGear stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $31.00, for a total transaction of $115,444.00. Following the completion of the sale, the senior vice president now directly owns 44,865 shares of the company’s stock, valued at $1,390,815. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,439 shares of company stock valued at $1,509,913. Insiders own 5.60% of the company’s stock.

NASDAQ NTGR traded down $0.39 during mid-day trading on Monday, reaching $32.60. 5,822 shares of the stock were exchanged, compared to its average volume of 369,164. NetGear, Inc. has a one year low of $24.63 and a one year high of $75.25. The company has a 50 day moving average of $27.41. The stock has a market cap of $1.04 billion, a PE ratio of 18.96 and a beta of 1.71. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.57 and a current ratio of 2.45.

NetGear (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, July 24th. The communications equipment provider reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.14). NetGear had a net margin of 0.91% and a return on equity of 7.26%. The company had revenue of $230.85 million during the quarter, compared to the consensus estimate of $224.35 million. During the same period last year, the firm posted $0.29 earnings per share. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. Sell-side analysts expect that NetGear, Inc. will post 1.62 EPS for the current fiscal year.

A number of brokerages recently weighed in on NTGR. Zacks Investment Research raised shares of NetGear from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Tuesday, April 16th. Guggenheim began coverage on shares of NetGear in a research note on Wednesday, June 19th. They set a “buy” rating and a $40.00 target price for the company. BidaskClub raised shares of NetGear from a “strong sell” rating to a “sell” rating in a research note on Friday, July 26th. Deutsche Bank began coverage on shares of NetGear in a research note on Friday, June 28th. They set a “hold” rating and a $28.00 target price for the company. Finally, ValuEngine raised shares of NetGear from a “sell” rating to a “hold” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $49.80.

NetGear Profile

NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. It operates in two segments, Connected Home, and Small and Medium Business. The company offers smart home/connected home/broadband access products, such as broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, WiFi network adapters, and digital canvasses; and value added service offerings, including technical support, parental controls, and cybersecurity protection.

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Institutional Ownership by Quarter for NetGear (NASDAQ:NTGR)

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