286,176 Shares in NETGEAR, Inc. $NTGR Bought by Concentric Capital Strategies LP

Concentric Capital Strategies LP bought a new position in NETGEAR, Inc. (NASDAQ:NTGR) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 286,176 shares of the communications equipment provider’s stock, valued at approximately $7,020,000.

A number of other large investors also recently added to or reduced their stakes in the business. Comerica Bank raised its position in NETGEAR by 64.8% in the 3rd quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 429 shares during the period. Jones Financial Companies Lllp raised its position in NETGEAR by 44.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,323 shares of the communications equipment provider’s stock worth $75,000 after purchasing an additional 718 shares during the period. Tower Research Capital LLC TRC raised its position in NETGEAR by 35.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the communications equipment provider’s stock worth $101,000 after purchasing an additional 904 shares during the period. FNY Investment Advisers LLC raised its position in NETGEAR by 50.0% in the 3rd quarter. FNY Investment Advisers LLC now owns 3,000 shares of the communications equipment provider’s stock worth $97,000 after purchasing an additional 1,000 shares during the period. Finally, Johnson Financial Group Inc. bought a new stake in NETGEAR in the 4th quarter worth $25,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

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

NETGEAR Stock Down 6.5%

Shares of NETGEAR stock opened at $22.77 on Thursday. The firm has a market cap of $611.15 million, a PE ratio of -25.88 and a beta of 1.17. NETGEAR, Inc. has a 12-month low of $19.00 and a 12-month high of $36.86. The company’s fifty day simple moving average is $25.28 and its two-hundred day simple moving average is $23.56.

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

Insider Activity at NETGEAR

In other news, Director Shravan Goli sold 3,381 shares of NETGEAR stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $26.89, for a total transaction of $90,915.09. Following the sale, the director owned 25,857 shares of the company’s stock, valued at approximately $695,294.73. The trade was a 11.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sarah Butterfass sold 2,704 shares of NETGEAR stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $26.90, for a total transaction of $72,737.60. Following the sale, 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 12,085 shares of company stock worth $318,703. 3.10% of the stock is currently owned by company insiders.

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.