6,113 Shares in NETGEAR, Inc. (NASDAQ:NTGR) Acquired by Campbell & CO Investment Adviser LLC

Campbell & CO Investment Adviser LLC acquired a new position in shares of NETGEAR, Inc. (NASDAQ:NTGR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,113 shares of the communications equipment provider’s stock, valued at approximately $263,000.

A number of other hedge funds have also modified their holdings of the company. State Board of Administration of Florida Retirement System raised its position in NETGEAR by 0.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 20,631 shares of the communications equipment provider’s stock worth $1,022,000 after buying an additional 57 shares in the last quarter. State of Alaska Department of Revenue raised its position in NETGEAR by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 3,650 shares of the communications equipment provider’s stock worth $180,000 after buying an additional 60 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its position in NETGEAR by 1.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 9,140 shares of the communications equipment provider’s stock worth $453,000 after buying an additional 90 shares in the last quarter. Louisiana State Employees Retirement System raised its position in NETGEAR by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 13,400 shares of the communications equipment provider’s stock worth $664,000 after buying an additional 100 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of NETGEAR by 0.6% in the first quarter. Arizona State Retirement System now owns 17,150 shares of the communications equipment provider’s stock worth $850,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Shares of NETGEAR, Inc. (NASDAQ NTGR) opened at 45.50 on Friday. NETGEAR, Inc. has a 1-year low of $41.50 and a 1-year high of $60.82. The company’s 50 day moving average is $45.42 and its 200-day moving average is $48.24. The company has a market capitalization of $1.44 billion, a P/E ratio of 20.88 and a beta of 1.55.

NETGEAR (NASDAQ:NTGR) last issued its earnings results on Wednesday, July 26th. The communications equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.06. The company had revenue of $330.72 million for the quarter, compared to the consensus estimate of $324.64 million. NETGEAR had a return on equity of 10.67% and a net margin of 5.42%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $0.72 EPS. On average, equities research analysts forecast that NETGEAR, Inc. will post $2.74 EPS for the current year.

NETGEAR declared that its board has approved a stock buyback program on Wednesday, April 26th that authorizes the company to repurchase 3,000,000 shares. This repurchase authorization authorizes the communications equipment provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

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NTGR has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of NETGEAR from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Global Equities Research restated a “buy” rating and set a $85.00 price objective on shares of NETGEAR in a report on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. NETGEAR has an average rating of “Hold” and an average target price of $62.48.

In other NETGEAR news, SVP Michael A. Werdann sold 750 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $45.35, for a total value of $34,012.50. Following the completion of the sale, the senior vice president now directly owns 26,625 shares in the company, valued at approximately $1,207,443.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Patrick Cs Lo sold 9,900 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $47.83, for a total value of $473,517.00. Following the completion of the sale, the chairman now owns 183,125 shares of the company’s stock, valued at $8,758,868.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,228 shares of company stock worth $2,976,861. Corporate insiders own 6.20% of the company’s stock.

NETGEAR Company Profile

NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.

Institutional Ownership by Quarter for NETGEAR (NASDAQ:NTGR)

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