Connor Clark & Lunn Investment Management Ltd. raised its holdings in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 17.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 170,281 shares of the communications equipment provider's stock after acquiring an additional 24,868 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.59% of NETGEAR worth $4,746,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Quarry LP boosted its holdings in NETGEAR by 66.5% in the third quarter. Quarry LP now owns 1,856 shares of the communications equipment provider's stock worth $37,000 after purchasing an additional 741 shares in the last quarter. R Squared Ltd acquired a new position in shares of NETGEAR during the 4th quarter valued at about $72,000. New York State Teachers Retirement System bought a new stake in NETGEAR during the 4th quarter valued at approximately $72,000. Meeder Asset Management Inc. acquired a new position in shares of NETGEAR in the 3rd quarter worth approximately $91,000. Finally, AlphaQuest LLC bought a new stake in NETGEAR during the 4th quarter worth approximately $185,000. 82.97% of the stock is owned by institutional investors.
NETGEAR Trading Down 2.4 %
NETGEAR stock traded down $0.60 during mid-day trading on Thursday, hitting $24.19. The stock had a trading volume of 244,054 shares, compared to its average volume of 379,092. The stock has a 50-day simple moving average of $26.54 and a two-hundred day simple moving average of $24.09. The stock has a market capitalization of $698.34 million, a PE ratio of 60.48 and a beta of 0.72. NETGEAR, Inc. has a 12 month low of $10.48 and a 12 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) EPS for the quarter, hitting analysts' consensus estimates of ($0.24). NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. Sell-side analysts expect that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CEO Charles J. Prober sold 10,929 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $26.64, for a total transaction of $291,148.56. Following the transaction, the chief executive officer now directly owns 507,763 shares in the company, valued at $13,526,806.32. The trade was a 2.11 % decrease in their position. The transaction 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 NETGEAR stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $23.92, for a total value of $92,044.16. Following the transaction, the chief financial officer now owns 193,032 shares of the company's stock, valued at $4,617,325.44. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on NTGR shares. Raymond James boosted their price objective on NETGEAR from $22.00 to $29.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. StockNews.com upgraded shares of NETGEAR from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th.
Check Out Our Latest Stock Analysis on NETGEAR
About NETGEAR
(
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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