JPMorgan Chase & Co. Trims Stake in NETGEAR, Inc. (NASDAQ:NTGR)

JPMorgan Chase & Co. decreased its position in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 5.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 428,726 shares of the communications equipment provider’s stock after selling 25,391 shares during the period. JPMorgan Chase & Co. owned about 1.49% of NETGEAR worth $8,600,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Renaissance Technologies LLC grew its holdings in shares of NETGEAR by 10.6% during the 2nd quarter. Renaissance Technologies LLC now owns 263,018 shares of the communications equipment provider’s stock worth $4,024,000 after acquiring an additional 25,200 shares during the period. Federated Hermes Inc. grew its holdings in shares of NETGEAR by 125.0% during the 2nd quarter. Federated Hermes Inc. now owns 127,892 shares of the communications equipment provider’s stock worth $1,957,000 after acquiring an additional 71,054 shares during the period. Brandes Investment Partners LP grew its holdings in shares of NETGEAR by 6.8% during the 2nd quarter. Brandes Investment Partners LP now owns 3,896,492 shares of the communications equipment provider’s stock worth $59,246,000 after acquiring an additional 247,162 shares during the period. Empowered Funds LLC grew its holdings in shares of NETGEAR by 23.2% during the 3rd quarter. Empowered Funds LLC now owns 141,976 shares of the communications equipment provider’s stock worth $2,848,000 after acquiring an additional 26,756 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of NETGEAR by 5.3% in the 3rd quarter. Franklin Resources Inc. now owns 42,673 shares of the communications equipment provider’s stock worth $883,000 after purchasing an additional 2,166 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised NETGEAR from a “hold” rating to a “buy” rating in a research report on Friday, November 1st.

NETGEAR Stock Down 1.3 %

Shares of NTGR opened at $25.94 on Tuesday. The stock has a market cap of $746.29 million, a P/E ratio of 39.91 and a beta of 0.83. NETGEAR, Inc. has a 52 week low of $10.48 and a 52 week high of $31.55. The business’s 50 day moving average price is $25.64 and its 200-day moving average price is $20.45.

Insider Activity at NETGEAR

In other news, Director Thomas H. Waechter sold 2,000 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $30.42, for a total transaction of $60,840.00. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.00% of the stock is currently owned by insiders.

NETGEAR 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.