NETGEAR, Inc. (NASDAQ:NTGR) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers increased its holdings in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 32.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (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 0.24% of NETGEAR worth $1,946,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NTGR. Empowered Funds LLC boosted its holdings in shares of NETGEAR by 23.2% in the third quarter. Empowered Funds LLC now owns 141,976 shares of the communications equipment provider’s stock valued at $2,848,000 after acquiring an additional 26,756 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in NETGEAR by 285.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 79,693 shares of the communications equipment provider’s stock worth $2,221,000 after acquiring an additional 59,005 shares during the last quarter. Inspire Investing LLC purchased a new stake in NETGEAR in the 4th quarter valued at approximately $852,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of NETGEAR in the fourth quarter valued at $1,385,000. Finally, Savant Capital LLC acquired a new stake in shares of NETGEAR during the 4th quarter worth about $266,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

NTGR has been the subject of a number of recent analyst reports. Raymond James lifted their price objective on NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. StockNews.com downgraded shares of NETGEAR from a “buy” rating to a “hold” rating in a research note on Monday.

NETGEAR Price Performance

Shares of NTGR stock opened at $24.87 on Tuesday. NETGEAR, Inc. has a 12 month low of $10.48 and a 12 month high of $31.55. The company’s fifty day moving average price is $27.49 and its two-hundred day moving average price is $23.48. The firm has a market capitalization of $717.97 million, a P/E ratio of 62.18 and a beta of 0.83.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings data on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share 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, sell-side analysts anticipate that NETGEAR, Inc. will post -1.84 EPS for the current year.

Insiders Place Their Bets

In related news, Director Thomas H. Waechter sold 2,000 shares of the business’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 transaction of $60,840.00. Following the completion of the transaction, the director now owns 61,135 shares in the company, valued at $1,859,726.70. The trade was a 3.17 % decrease in their position. The transaction 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 stock in a transaction dated Thursday, February 20th. The stock was 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 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 corporate insiders.

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.