192,214 Shares in NETGEAR, Inc. (NASDAQ:NTGR) Acquired by Portolan Capital Management LLC

Portolan Capital Management LLC bought a new stake in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 192,214 shares of the communications equipment provider's stock, valued at approximately $5,357,000. Portolan Capital Management LLC owned 0.67% of NETGEAR as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Summit Investment Advisors Inc. increased its holdings in NETGEAR by 19.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider's stock worth $81,000 after purchasing an additional 479 shares during the period. Legal & General Group Plc boosted its stake in NETGEAR by 2.6% during the 4th quarter. Legal & General Group Plc now owns 32,902 shares of the communications equipment provider's stock worth $917,000 after purchasing an additional 846 shares during the period. Franklin Resources Inc. grew its holdings in shares of NETGEAR by 5.3% during the third quarter. Franklin Resources Inc. now owns 42,673 shares of the communications equipment provider's stock worth $883,000 after buying an additional 2,166 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of NETGEAR by 49.3% during 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 purchasing an additional 2,500 shares during the last quarter. Finally, New York State Teachers Retirement System purchased a new position in NETGEAR during the 4th quarter worth $72,000. Institutional investors and hedge funds own 82.97% of the company's stock.

NETGEAR Stock Performance

NETGEAR stock traded down $0.08 during midday trading on Friday, reaching $22.11. The stock had a trading volume of 198,999 shares, compared to its average volume of 326,689. The stock has a market capitalization of $638.29 million, a PE ratio of 55.28 and a beta of 1.03. The stock's 50-day simple moving average is $24.47 and its 200 day simple moving average is $24.67. 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 issued its earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share (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%. Equities analysts predict that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on NTGR. Raymond James lifted their price target on NETGEAR from $22.00 to $29.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. StockNews.com downgraded NETGEAR from a "buy" rating to a "hold" rating in a research report on Friday, March 21st.

Insiders Place Their Bets

In other NETGEAR news, CFO Murray Bryan sold 3,848 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 193,032 shares in the company, valued at $4,617,325.44. This trade represents a 1.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles J. Prober sold 10,929 shares of the company'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 completion of the sale, the chief executive officer now owns 507,763 shares in the company, valued at approximately $13,526,806.32. This trade represents 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 insiders.

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.