New York State Common Retirement Fund Grows Stake in NETGEAR, Inc. (NASDAQ:NTGR)

New York State Common Retirement Fund raised its holdings in NETGEAR, Inc. (NASDAQ:NTGR) by 49.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,566 shares of the communications equipment provider’s stock after buying an additional 2,500 shares during the quarter. New York State Common Retirement Fund’s holdings in NETGEAR were worth $211,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Quarry LP lifted its stake in NETGEAR by 66.5% in the third quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock worth $37,000 after acquiring an additional 741 shares during the period. R Squared Ltd purchased a new stake in shares of NETGEAR in the 4th quarter worth about $72,000. New York State Teachers Retirement System purchased a new stake in shares of NETGEAR in the 4th quarter worth about $72,000. Meeder Asset Management Inc. bought a new stake in shares of NETGEAR during the 3rd quarter valued at about $91,000. Finally, Versor Investments LP purchased a new position in shares of NETGEAR during the third quarter valued at about $235,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Charles J. Prober sold 10,929 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $26.64, for a total transaction of $291,148.56. Following the transaction, the chief executive officer now owns 507,763 shares in the company, valued at $13,526,806.32. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas H. Waechter sold 2,000 shares of NETGEAR 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 sale, the director now directly owns 61,135 shares of the company’s stock, valued at approximately $1,859,726.70. This trade represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is owned by corporate insiders.

NETGEAR Price Performance

Shares of NETGEAR stock opened at $24.80 on Thursday. The stock has a market cap of $715.95 million, a price-to-earnings ratio of 62.00 and a beta of 0.72. NETGEAR, Inc. has a 1 year low of $10.48 and a 1 year high of $31.55. The firm’s 50-day moving average is $27.35 and its 200 day moving average is $23.55.

NETGEAR (NASDAQ:NTGR) last issued its 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 negative return on equity of 9.24% and a net margin of 1.83%. On average, equities analysts expect that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Raymond James raised their price objective 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 Monday.

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.