Brandes Investment Partners LP trimmed its position in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 22.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,026,179 shares of the communications equipment provider's stock after selling 884,330 shares during the period. Brandes Investment Partners LP owned about 10.52% of NETGEAR worth $84,340,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Empowered Funds LLC grew its position in NETGEAR by 23.2% during the 3rd quarter. Empowered Funds LLC now owns 141,976 shares of the communications equipment provider's stock worth $2,848,000 after acquiring an additional 26,756 shares during the last quarter. Rhumbline Advisers grew its position in NETGEAR by 32.0% during the 4th quarter. Rhumbline Advisers now owns 69,841 shares of the communications equipment provider's stock worth $1,946,000 after acquiring an additional 16,920 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in NETGEAR by 285.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 79,693 shares of the communications equipment provider's stock worth $2,221,000 after acquiring an additional 59,005 shares during the last quarter. Inspire Investing LLC bought a new position in NETGEAR during the 4th quarter worth approximately $852,000. Finally, Bailard Inc. bought a new position in NETGEAR during the 4th quarter worth approximately $362,000. 82.97% of the stock is currently owned by institutional investors.
NETGEAR Trading Up 3.9 %
Shares of NTGR stock traded up $0.93 during trading hours on Wednesday, reaching $24.79. The company's stock had a trading volume of 358,028 shares, compared to its average volume of 300,143. The stock has a market capitalization of $715.66 million, a P/E ratio of 61.98 and a beta of 0.72. NETGEAR, Inc. has a one year low of $10.48 and a one year high of $31.55. The firm's fifty day simple moving average is $26.59 and its 200 day simple moving average is $24.09.
NETGEAR (NASDAQ:NTGR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share for the quarter, hitting the consensus estimate of ($0.24). NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. As a group, equities research analysts forecast that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CEO Charles J. Prober sold 10,929 shares of the company'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 directly owns 507,763 shares of the company's stock, valued at $13,526,806.32. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Murray Bryan sold 3,848 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $23.92, for a total value of $92,044.16. Following the completion of the sale, the chief financial officer now directly owns 193,032 shares in the company, valued at approximately $4,617,325.44. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.00% of the stock is owned by insiders.
Wall Street Analyst Weigh In
NTGR has been the topic of several recent research reports. StockNews.com upgraded NETGEAR from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Raymond James lifted their price objective on NETGEAR from $22.00 to $29.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th.
View Our Latest Analysis on NTGR
NETGEAR Profile
(
Free Report)
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.
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