NETGEAR, Inc. $NTGR Shares Bought by Brandes Investment Partners LP

Brandes Investment Partners LP grew its holdings in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 10.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,855,555 shares of the communications equipment provider’s stock after acquiring an additional 180,295 shares during the quarter. Brandes Investment Partners LP owned about 6.53% of NETGEAR worth $45,517,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Leuthold Group LLC acquired a new stake in shares of NETGEAR in the third quarter valued at $3,309,000. Allianz Asset Management GmbH lifted its holdings in shares of NETGEAR by 169.0% in the third quarter. Allianz Asset Management GmbH now owns 109,322 shares of the communications equipment provider’s stock valued at $3,541,000 after buying an additional 68,683 shares during the period. Anchor Capital Advisors LLC acquired a new stake in shares of NETGEAR in the fourth quarter valued at $2,131,000. Cinctive Capital Management LP acquired a new stake in shares of NETGEAR in the third quarter valued at $6,433,000. Finally, Sierra Summit Advisors LLC acquired a new stake in shares of NETGEAR in the third quarter valued at $1,079,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

NETGEAR Stock Down 4.2%

Shares of NETGEAR stock opened at $24.15 on Wednesday. The stock’s fifty day moving average is $25.12 and its 200-day moving average is $23.61. The firm has a market capitalization of $648.19 million, a PE ratio of -27.44 and a beta of 1.17. NETGEAR, Inc. has a 12-month low of $19.00 and a 12-month high of $36.86.

NETGEAR (NASDAQ:NTGR) last announced 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. The company had revenue of $158.82 million for the quarter, compared to analyst estimates of $152.49 million. NETGEAR had a negative return on equity of 2.71% and a negative net margin of 3.58%.NETGEAR’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.02 earnings per share. Analysts expect that NETGEAR, Inc. will post -0.5 EPS for the current year.

Insider Buying and Selling

In other news, insider Pramod Badjate sold 3,000 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $25.47, for a total transaction of $76,410.00. Following the sale, the insider directly owned 165,513 shares of the company’s stock, valued at $4,215,616.11. The trade was a 1.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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. Also, Director Shravan Goli sold 3,381 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $26.89, for a total value of $90,915.09. Following the transaction, the director directly owned 25,857 shares in the company, valued at $695,294.73. The trade was a 11.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 12,085 shares of company stock valued at $318,703 over the last ninety days. 3.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NTGR has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a report on Friday, March 27th. Wall Street Zen upgraded NETGEAR from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Zacks Research upgraded NETGEAR from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $36.00.

NETGEAR Company 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.