Rhumbline Advisers increased its stake in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 32.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 69,841 shares of the communications equipment provider's stock after purchasing an additional 16,920 shares during the period. Rhumbline Advisers owned approximately 0.24% of NETGEAR worth $1,946,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Empowered Funds LLC boosted its position in shares of NETGEAR by 23.2% during the third quarter. Empowered Funds LLC now owns 141,976 shares of the communications equipment provider's stock worth $2,848,000 after buying an additional 26,756 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings 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 valued at $2,221,000 after acquiring an additional 59,005 shares during the period. Inspire Investing LLC acquired a new position in NETGEAR in the 4th quarter valued at about $852,000. Allspring Global Investments Holdings LLC purchased a new stake in NETGEAR during the fourth quarter worth about $1,385,000. Finally, Savant Capital LLC acquired a new stake in shares of NETGEAR during the fourth quarter worth about $266,000. Institutional investors and hedge funds own 82.97% of the company's stock.
NETGEAR Price Performance
Shares of NETGEAR stock traded down $0.28 on Wednesday, reaching $24.50. 120,807 shares of the company were exchanged, compared to its average volume of 369,596. The stock's 50 day moving average price is $27.42 and its 200-day moving average price is $23.54. NETGEAR, Inc. has a 1-year low of $10.48 and a 1-year high of $31.55. The company has a market cap of $707.15 million, a P/E ratio of 61.24 and a beta of 0.83.
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, hitting the consensus estimate of ($0.24). NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. On average, research analysts predict that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.
Insider Activity at NETGEAR
In related news, Director Thomas H. Waechter sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $30.42, for a total value of $60,840.00. Following the completion of the transaction, the director now directly owns 61,135 shares of the company's stock, valued at $1,859,726.70. This represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles J. Prober sold 10,929 shares of the firm's 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 in the company, valued at approximately $13,526,806.32. The trade was 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 corporate insiders.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on NTGR shares. Raymond James lifted their price objective on shares of NETGEAR from $22.00 to $29.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. StockNews.com lowered NETGEAR from a "buy" rating to a "hold" rating in a research report on Monday.
Check Out Our Latest Report on NTGR
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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