Meredith Corporation (MDP), NetGear Inc (NTGR): Royce & Associates’ Latest Moves

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NetGear Inc (NASDAQ:NTGR) delivers networking products to consumers, businesses, and service providers. In addition to offering home networking, home video monitoring, and digital media items through its retail segment, the company’s product offerings include Ethernet switches, wireless controllers, and internet security appliances. Royce & Associates might have slashed its exposure by almost 13%, yet it still holds a significant stake in NetGear. The mutual fund’s latest transaction does not mean it has become bearish regarding the stock, but could simply suggest Mr. Royce’s firm is balancing its equity portfolio. After all, NetGear recently announced the launch of three new products, which could boost business significantly. In addition, NetGear not only created a new seat on its board of directors, but also announced that the highly experienced Thomas Waechter would be filling the spot.

Ken Fisher’s Fisher Asset Management seems to be following Royce & Associates on both equities mentioned above, since it also holds a significant stake in NetGear Inc (NASDAQ:NTGR). The asset management firm’s position amounts to 1.1 million shares, making it one of the NetGear’s largest institutional investors. In addition to these large shareholders, several other investment funds are bullish regarding the stock, including Ken Griffin’s Citadel Investment Group. The financial institution disclosed a stake of 209,700 shares, following a 17% increase in its exposure to the company during the third quarter.

Disclosure: Pablo Erbar holds no position in any stocks or funds mentioned.

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