Anchor Capital Advisors LLC Makes New Investment in NETGEAR, Inc. $NTGR

Anchor Capital Advisors LLC bought a new position in NETGEAR, Inc. (NASDAQ:NTGR) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 86,870 shares of the communications equipment provider’s stock, valued at approximately $2,131,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of NTGR. Geode Capital Management LLC lifted its holdings in shares of NETGEAR by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 703,791 shares of the communications equipment provider’s stock valued at $17,267,000 after buying an additional 11,279 shares during the period. Royce & Associates LP acquired a new position in shares of NETGEAR during the 4th quarter worth approximately $2,053,000. IFP Advisors Inc lifted its position in shares of NETGEAR by 161.7% during the 4th quarter. IFP Advisors Inc now owns 2,243 shares of the communications equipment provider’s stock valued at $55,000 after buying an additional 1,386 shares in the last quarter. Leuthold Group LLC raised its position in NETGEAR by 56.1% during the fourth quarter. Leuthold Group LLC now owns 159,432 shares of the communications equipment provider’s stock worth $3,911,000 after acquiring an additional 57,266 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in NETGEAR by 24.2% during the fourth quarter. First Eagle Investment Management LLC now owns 186,777 shares of the communications equipment provider’s stock valued at $4,582,000 after purchasing an additional 36,384 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

NETGEAR Price Performance

NTGR opened at $26.19 on Thursday. The stock has a market capitalization of $702.94 million, a price-to-earnings ratio of -29.76 and a beta of 1.17. The business has a 50-day moving average of $24.95 and a two-hundred day moving average of $23.63. NETGEAR, Inc. has a 12 month low of $19.00 and a 12 month high of $36.86.

NETGEAR (NASDAQ:NTGR) last posted its earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.14. NETGEAR had a negative net margin of 3.58% and a negative return on equity of 2.71%. The firm had revenue of $158.82 million during the quarter, compared to the consensus estimate of $152.49 million. During the same quarter in the prior year, the company earned $0.02 EPS. The company’s revenue was down 2.0% on a year-over-year basis. Equities research analysts anticipate that NETGEAR, Inc. will post -0.5 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on NTGR shares. Stifel Nicolaus set a $36.00 target price on NETGEAR in a report on Thursday, February 5th. Wall Street Zen raised NETGEAR from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Zacks Research upgraded NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research note on Friday, March 27th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, NETGEAR currently has an average rating of “Hold” and an average price target of $36.00.

Insider Transactions at NETGEAR

In other NETGEAR news, Director Sarah Butterfass sold 2,704 shares of NETGEAR stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $26.90, for a total value of $72,737.60. Following the completion of the transaction, the director directly owned 38,953 shares in the company, valued at $1,047,835.70. The trade was a 6.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pramod Badjate sold 3,000 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $25.47, for a total transaction of $76,410.00. Following the completion of the transaction, the insider owned 165,513 shares of the company’s stock, valued at approximately $4,215,616.11. This trade represents a 1.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 12,085 shares of company stock worth $318,703. 3.10% of the stock is currently owned by corporate insiders.

NETGEAR Profile

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.