Martingale Asset Management L P Has $1.63 Million Holdings in NETGEAR, Inc. (NASDAQ:NTGR)

Martingale Asset Management L P increased its holdings in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 119.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,627 shares of the communications equipment provider's stock after purchasing an additional 31,902 shares during the period. Martingale Asset Management L P owned approximately 0.20% of NETGEAR worth $1,634,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NTGR. R Squared Ltd bought a new stake in shares of NETGEAR during the 4th quarter worth about $72,000. New York State Teachers Retirement System bought a new stake in NETGEAR during the fourth quarter worth approximately $72,000. Picton Mahoney Asset Management acquired a new position in NETGEAR during the fourth quarter valued at approximately $92,000. AlphaQuest LLC bought a new position in shares of NETGEAR in the fourth quarter valued at approximately $185,000. Finally, New York State Common Retirement Fund lifted its stake in shares of NETGEAR by 49.3% in the fourth quarter. New York State Common Retirement Fund now owns 7,566 shares of the communications equipment provider's stock worth $211,000 after buying an additional 2,500 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NTGR. StockNews.com downgraded shares of NETGEAR from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Raymond James boosted 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.

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Insiders Place Their Bets

In other NETGEAR news, CEO Charles J. Prober sold 10,929 shares of NETGEAR stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $26.64, for a total transaction of $291,148.56. Following the sale, the chief executive officer now directly owns 507,763 shares of the company's stock, valued at approximately $13,526,806.32. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Murray Bryan sold 3,848 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 193,032 shares of the company's stock, 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. Corporate insiders own 7.00% of the company's stock.

NETGEAR Trading Down 0.5 %

NASDAQ:NTGR traded down $0.11 during trading hours on Tuesday, hitting $22.49. 301,650 shares of the company traded hands, compared to its average volume of 325,975. The stock has a market capitalization of $649.26 million, a price-to-earnings ratio of 56.23 and a beta of 1.03. The firm has a 50-day moving average of $24.90 and a 200 day moving average of $24.69. 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 posted its quarterly earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) 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%. Equities research analysts predict that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.

NETGEAR Company 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.