Renaissance Technologies LLC Increases Stake in NETGEAR, Inc. (NASDAQ:NTGR)

Renaissance Technologies LLC raised its position in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 11.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 325,055 shares of the communications equipment provider's stock after acquiring an additional 33,100 shares during the period. Renaissance Technologies LLC owned approximately 1.13% of NETGEAR worth $9,059,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of NTGR. Arrowstreet Capital Limited Partnership grew its holdings in shares of NETGEAR by 126.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 675,209 shares of the communications equipment provider's stock worth $18,818,000 after purchasing an additional 376,974 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of NETGEAR by 31.6% in the fourth quarter. American Century Companies Inc. now owns 770,464 shares of the communications equipment provider's stock worth $21,473,000 after purchasing an additional 184,863 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of NETGEAR in the fourth quarter worth about $4,449,000. Alliancebernstein L.P. grew its holdings in shares of NETGEAR by 318.3% in the fourth quarter. Alliancebernstein L.P. now owns 135,430 shares of the communications equipment provider's stock worth $3,774,000 after purchasing an additional 103,051 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of NETGEAR by 415.9% in the fourth quarter. Sei Investments Co. now owns 125,468 shares of the communications equipment provider's stock worth $3,497,000 after purchasing an additional 101,146 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Raymond James increased their target price on shares of NETGEAR from $22.00 to $29.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. StockNews.com cut shares of NETGEAR from a "buy" rating to a "hold" rating in a report on Friday, March 21st.

NETGEAR Stock Performance

NETGEAR stock traded up $0.82 during midday trading on Wednesday, hitting $22.78. 29,278 shares of the company's stock were exchanged, compared to its average volume of 328,047. NETGEAR, Inc. has a 12 month low of $10.48 and a 12 month high of $31.55. The firm has a 50-day moving average of $23.99 and a two-hundred day moving average of $24.75. The company has a market cap of $657.64 million, a PE ratio of 56.95 and a beta of 1.03.

NETGEAR (NASDAQ:NTGR - Get Free Report) last released 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 net margin of 1.83% and a negative return on equity of 9.24%. As a group, equities analysts expect that NETGEAR, Inc. will post -1.84 earnings per share for the current year.

Insider Buying and Selling at NETGEAR

In other NETGEAR news, CEO Charles J. Prober sold 10,929 shares of the 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 directly owns 507,763 shares of the company's stock, valued at approximately $13,526,806.32. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Murray Bryan sold 3,848 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $23.92, for a total transaction 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 $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. Insiders own 7.00% of the company's stock.

About NETGEAR

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.