Eaton Vance Management Purchases 178,855 Shares of NETGEAR, Inc. (NTGR)

Eaton Vance Management raised its position in NETGEAR, Inc. (NASDAQ:NTGR) by 193.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 271,238 shares of the communications equipment provider’s stock after acquiring an additional 178,855 shares during the quarter. Eaton Vance Management owned 0.84% of NETGEAR worth $11,690,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. State Board of Administration of Florida Retirement System grew 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 valued at $1,022,000 after acquiring an additional 57 shares in the last quarter. Municipal Employees Retirement System of Michigan grew 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 valued at $453,000 after acquiring an additional 90 shares in the last quarter. Jennison Associates LLC grew its position in NETGEAR by 0.6% in the second quarter. Jennison Associates LLC now owns 17,331 shares of the communications equipment provider’s stock valued at $747,000 after acquiring an additional 97 shares in the last quarter. Arizona State Retirement System grew its position in NETGEAR by 0.6% in the first quarter. Arizona State Retirement System now owns 17,150 shares of the communications equipment provider’s stock valued at $850,000 after acquiring an additional 100 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in NETGEAR by 0.5% in the second quarter. Nisa Investment Advisors LLC now owns 30,030 shares of the communications equipment provider’s stock valued at $1,289,000 after acquiring an additional 150 shares in the last quarter. 98.85% of the stock is owned by institutional investors.

In other NETGEAR news, Chairman Patrick Cs Lo sold 5,900 shares of NETGEAR stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $43.39, for a total value of $256,001.00. Following the transaction, the chairman now directly owns 179,125 shares of the company’s stock, valued at approximately $7,772,233.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Michael A. Werdann sold 8,153 shares of NETGEAR stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $43.01, for a total value of $350,660.53. Following the completion of the transaction, the senior vice president now directly owns 30,092 shares in the company, valued at $1,294,256.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,628 shares of company stock worth $2,855,766. Company insiders own 6.20% of the company’s stock.

Shares of NETGEAR, Inc. (NTGR) opened at 47.60 on Tuesday. NETGEAR, Inc. has a 52-week low of $41.50 and a 52-week high of $60.82. The stock’s 50 day moving average is $46.90 and its 200-day moving average is $47.21. The firm has a market cap of $1.50 billion, a P/E ratio of 21.84 and a beta of 1.54.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, July 26th. The communications equipment provider reported $0.60 EPS for the quarter, topping the Thomson Reuters’ 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 company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.72 EPS. Equities analysts anticipate that NETGEAR, Inc. will post $2.74 earnings per share for the current fiscal year.

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Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of NETGEAR from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Global Equities Research reaffirmed a “buy” rating and issued a $85.00 price objective on shares of NETGEAR in a research report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $61.97.

About NETGEAR

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.

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Institutional Ownership by Quarter for NETGEAR (NASDAQ:NTGR)

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