Jennison Associates LLC Takes $939,000 Position in NETGEAR, Inc. (NASDAQ:NTGR)

Jennison Associates LLC acquired a new stake in shares of NETGEAR, Inc. (NASDAQ:NTGR) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 33,701 shares of the communications equipment provider’s stock, valued at approximately $939,000. Jennison Associates LLC owned about 0.12% of NETGEAR as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NTGR. Tenzing Global Management LLC bought a new position in shares of NETGEAR in the third quarter worth approximately $3,510,000. Los Angeles Capital Management LLC bought a new position in shares of NETGEAR in the third quarter worth approximately $1,805,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of NETGEAR by 124.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,413 shares of the communications equipment provider’s stock worth $2,917,000 after purchasing an additional 80,746 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of NETGEAR by 285.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 79,693 shares of the communications equipment provider’s stock worth $2,221,000 after purchasing an additional 59,005 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in shares of NETGEAR in the second quarter worth approximately $627,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NTGR has been the subject of a number of research reports. StockNews.com upgraded shares of NETGEAR from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Raymond James upped their target price on shares of NETGEAR from $22.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday.

NETGEAR Price Performance

NTGR stock opened at $28.53 on Friday. The company has a market capitalization of $820.81 million, a PE ratio of 43.89 and a beta of 0.83. NETGEAR, Inc. has a 12 month low of $10.48 and a 12 month high of $31.55. The firm’s 50-day moving average is $26.74 and its 200 day moving average is $21.89.

NETGEAR (NASDAQ:NTGR) last posted its earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) EPS for the quarter, meeting analysts’ consensus estimates of ($0.24). NETGEAR had a net margin of 2.88% and a negative return on equity of 8.06%. Sell-side analysts forecast that NETGEAR, Inc. will post -1.66 EPS for the current fiscal year.

Insider Buying and Selling

In other NETGEAR news, Director Thomas H. Waechter sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $30.42, for a total transaction of $60,840.00. Following the completion of the transaction, the director now directly owns 61,135 shares of the company’s stock, valued at approximately $1,859,726.70. This trade represents a 3.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 7.00% of the stock is owned by company insiders.

NETGEAR 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.