New York State Teachers Retirement System Makes New Investment in NETGEAR, Inc. (NASDAQ:NTGR)

New York State Teachers Retirement System purchased a new stake in NETGEAR, Inc. (NASDAQ:NTGR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,566 shares of the communications equipment provider’s stock, valued at approximately $72,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tenzing Global Management LLC purchased a new stake in shares of NETGEAR during the 3rd quarter worth approximately $3,510,000. Los Angeles Capital Management LLC bought a new stake in shares of NETGEAR in the 3rd quarter valued at about $1,805,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in NETGEAR by 124.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,413 shares of the communications equipment provider’s stock valued at $2,917,000 after buying an additional 80,746 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in NETGEAR by 285.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 79,693 shares of the communications equipment provider’s stock worth $2,221,000 after buying an additional 59,005 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of NETGEAR in the 4th quarter worth about $1,385,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NTGR shares. StockNews.com raised shares of NETGEAR from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Raymond James lifted their price target on shares of NETGEAR from $22.00 to $29.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th.

Insider Transactions at NETGEAR

In related news, Director Thomas H. Waechter sold 2,000 shares of NETGEAR stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $30.42, for a total value of $60,840.00. Following the completion of the sale, the director now directly owns 61,135 shares in the company, valued at $1,859,726.70. This trade represents a 3.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $291,148.56. Following the sale, the chief executive officer now 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. Corporate insiders own 7.00% of the company’s stock.

NETGEAR Stock Performance

Shares of NASDAQ:NTGR opened at $25.72 on Tuesday. The firm has a market cap of $742.54 million, a price-to-earnings ratio of 64.30 and a beta of 0.83. The firm has a fifty day moving average price of $27.60 and a 200 day moving average price of $23.03. NETGEAR, Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $31.55.

NETGEAR (NASDAQ:NTGR) last announced its earnings results 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%. As a group, research analysts predict that NETGEAR, Inc. will post -1.84 earnings per share for the current year.

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.