Arrowstreet Capital Limited Partnership Has $18.82 Million Stake in NETGEAR, Inc. (NASDAQ:NTGR)

Arrowstreet Capital Limited Partnership raised its holdings in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 126.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 675,209 shares of the communications equipment provider's stock after purchasing an additional 376,974 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 2.35% of NETGEAR worth $18,818,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. American Century Companies Inc. boosted its stake in shares of NETGEAR by 31.6% in the fourth quarter. American Century Companies Inc. now owns 770,464 shares of the communications equipment provider's stock valued at $21,473,000 after buying an additional 184,863 shares during the period. Tenzing Global Management LLC bought a new stake in shares of NETGEAR during the 3rd quarter valued at $3,510,000. Hillsdale Investment Management Inc. bought a new stake in shares of NETGEAR during the 4th quarter valued at $4,449,000. Sei Investments Co. grew its holdings in shares of NETGEAR by 415.9% during the 4th quarter. Sei Investments Co. now owns 125,468 shares of the communications equipment provider's stock worth $3,497,000 after purchasing an additional 101,146 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new position in shares of NETGEAR in the fourth quarter worth $2,371,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Analysts Set New Price Targets

NTGR has been the subject of several recent analyst reports. StockNews.com cut shares of NETGEAR from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Raymond James boosted their target price on shares of NETGEAR from $22.00 to $29.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th.

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NETGEAR Stock Up 14.2 %

Shares of NTGR traded up $2.86 during midday trading on Wednesday, hitting $23.07. The company's stock had a trading volume of 814,972 shares, compared to its average volume of 321,555. NETGEAR, Inc. has a one year low of $10.48 and a one year high of $31.55. The stock has a market capitalization of $666.01 million, a price-to-earnings ratio of 57.68 and a beta of 1.03. The company's fifty day simple moving average is $25.23 and its two-hundred day simple moving average is $24.61.

NETGEAR (NASDAQ:NTGR - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share for the quarter, meeting the consensus estimate of ($0.24). NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. On average, research analysts predict that NETGEAR, Inc. will post -1.84 earnings per share for the current year.

Insider Activity at NETGEAR

In related news, CFO Murray Bryan sold 3,848 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $23.92, for a total transaction of $92,044.16. Following the sale, the chief financial officer now owns 193,032 shares of the company's stock, valued at $4,617,325.44. This trade represents a 1.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Charles J. Prober sold 10,929 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $26.64, for a total value of $291,148.56. Following the sale, the chief executive officer now owns 507,763 shares in the company, valued at $13,526,806.32. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by insiders.

About NETGEAR

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.