Brandes Investment Partners LP Grows Stake in NETGEAR, Inc. (NASDAQ:NTGR)

Brandes Investment Partners LP boosted its position in shares of NETGEAR, Inc. (NASDAQ:NTGRGet Rating) by 38.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,718,811 shares of the communications equipment provider’s stock after purchasing an additional 477,193 shares during the quarter. Brandes Investment Partners LP owned about 5.89% of NETGEAR worth $42,420,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. GW Henssler & Associates Ltd. increased its holdings in shares of NETGEAR by 4.5% in the 1st quarter. GW Henssler & Associates Ltd. now owns 17,729 shares of the communications equipment provider’s stock valued at $438,000 after acquiring an additional 769 shares during the period. Swiss National Bank increased its holdings in shares of NETGEAR by 2.5% in the 1st quarter. Swiss National Bank now owns 69,200 shares of the communications equipment provider’s stock valued at $1,708,000 after acquiring an additional 1,700 shares during the period. IndexIQ Advisors LLC boosted its position in shares of NETGEAR by 60.3% in the 1st quarter. IndexIQ Advisors LLC now owns 16,467 shares of the communications equipment provider’s stock worth $406,000 after purchasing an additional 6,192 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of NETGEAR by 118.0% in the 1st quarter. New York State Common Retirement Fund now owns 45,949 shares of the communications equipment provider’s stock worth $1,134,000 after purchasing an additional 24,876 shares in the last quarter. Finally, SummerHaven Investment Management LLC boosted its position in shares of NETGEAR by 4.7% in the 1st quarter. SummerHaven Investment Management LLC now owns 23,185 shares of the communications equipment provider’s stock worth $572,000 after purchasing an additional 1,050 shares in the last quarter. 93.08% of the stock is currently owned by hedge funds and other institutional investors.

NETGEAR Price Performance

NTGR traded down $0.61 on Wednesday, reaching $25.23. 711 shares of the stock were exchanged, compared to its average volume of 265,518. The company’s 50-day moving average price is $20.78 and its 200 day moving average price is $22.44. NETGEAR, Inc. has a fifty-two week low of $17.40 and a fifty-two week high of $35.99. The firm has a market capitalization of $724.86 million, a PE ratio of -12.86 and a beta of 0.93.

NETGEAR (NASDAQ:NTGRGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The communications equipment provider reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.05. The company had revenue of $223.20 million during the quarter, compared to analysts’ expectations of $209.78 million. NETGEAR had a negative return on equity of 8.60% and a negative net margin of 5.86%. The firm’s revenue was down 27.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 EPS. As a group, equities analysts forecast that NETGEAR, Inc. will post -2.27 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Sarah Butterfass sold 1,983 shares of the business’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $19.39, for a total value of $38,450.37. Following the completion of the transaction, the director now owns 15,704 shares of the company’s stock, valued at approximately $304,500.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Sarah Butterfass sold 1,983 shares of the business’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $19.39, for a total value of $38,450.37. Following the completion of the transaction, the director now owns 15,704 shares of the company’s stock, valued at approximately $304,500.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Heidi Cormack sold 4,687 shares of NETGEAR stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $18.24, for a total value of $85,490.88. Following the completion of the transaction, the senior vice president now owns 56,734 shares of the company’s stock, valued at approximately $1,034,828.16. The disclosure for this sale can be found here. Insiders sold a total of 20,380 shares of company stock valued at $434,432 in the last quarter. 5.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NTGR shares. BWS Financial raised NETGEAR from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft lowered their price objective on NETGEAR from $25.00 to $22.00 in a research report on Thursday, April 28th. TheStreet cut NETGEAR from a “c” rating to a “d+” rating in a research report on Thursday, April 28th. Finally, StockNews.com cut NETGEAR from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $27.67.

About NETGEAR

(Get Rating)

NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. The company operates in two segments, Connected Home, and Small and Medium Business. It offers smart home/connected home/broadband access products, such as Wi-Fi routers and home Wi-Fi systems, broadband modems, Wi-Fi gateways, Wi-Fi hotspots, Wi-Fi range extenders, Powerline adapters and bridges, Wi-Fi network adapters, and digital canvasses; and value-added service offerings, including technical support, parental controls, and cybersecurity protection.

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Institutional Ownership by Quarter for NETGEAR (NASDAQ:NTGR)

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