Hillsdale Investment Management Inc. bought a new stake in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 159,630 shares of the communications equipment provider's stock, valued at approximately $4,449,000. Hillsdale Investment Management Inc. owned approximately 0.55% of NETGEAR as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in NTGR. Connor Clark & Lunn Investment Management Ltd. raised its stake 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 valued at $2,917,000 after acquiring an additional 80,746 shares during the period. Dynamic Technology Lab Private Ltd increased its position in NETGEAR by 62.8% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 25,200 shares of the communications equipment provider's stock valued at $505,000 after purchasing an additional 9,718 shares during the period. Martingale Asset Management L P bought a new stake in NETGEAR during the 3rd quarter valued at $536,000. Verition Fund Management LLC purchased a new position in shares of NETGEAR in the 3rd quarter valued at $348,000. Finally, Point72 Asset Management L.P. bought a new position in shares of NETGEAR in the 3rd quarter worth $255,000. 82.97% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, CEO Charles J. Prober sold 10,929 shares of NETGEAR stock in a transaction dated Thursday, February 20th. The shares were 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 of the company's stock, valued at $13,526,806.32. The trade was a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $92,044.16. Following the transaction, the chief financial officer now directly owns 193,032 shares in the company, valued at approximately $4,617,325.44. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company's stock.
Wall Street Analyst Weigh In
NTGR has been the topic of several recent research reports. StockNews.com lowered NETGEAR from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Raymond James raised their price target on shares of NETGEAR from $22.00 to $29.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th.
Check Out Our Latest Analysis on NTGR
NETGEAR Stock Performance
Shares of NETGEAR stock traded down $0.18 during trading hours on Wednesday, hitting $24.62. The company's stock had a trading volume of 171,242 shares, compared to its average volume of 302,296. The stock has a market cap of $710.75 million, a price-to-earnings ratio of 61.55 and a beta of 0.72. The firm has a fifty day moving average of $26.38 and a 200-day moving average of $24.37. NETGEAR, Inc. has a twelve month low of $10.48 and a twelve month high of $31.55.
NETGEAR (NASDAQ:NTGR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share (EPS) 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, sell-side analysts expect that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.
NETGEAR Company Profile
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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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