Wellington Management Group LLP Buys 183,495 Shares of NETGEAR, Inc. $NTGR

Wellington Management Group LLP grew its stake in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 75.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 428,011 shares of the communications equipment provider’s stock after buying an additional 183,495 shares during the period. Wellington Management Group LLP’s holdings in NETGEAR were worth $9,994,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Comerica Bank grew its position in NETGEAR by 64.8% during the third quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock worth $35,000 after buying an additional 429 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of NETGEAR by 6.4% in the 1st quarter. Cetera Investment Advisers now owns 11,996 shares of the communications equipment provider’s stock worth $262,000 after acquiring an additional 725 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of 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 acquiring an additional 904 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of NETGEAR during the 4th quarter worth approximately $25,000. Finally, Rhumbline Advisers grew its holdings in shares of NETGEAR by 2.3% during the 2nd quarter. Rhumbline Advisers now owns 51,678 shares of the communications equipment provider’s stock worth $1,502,000 after purchasing an additional 1,140 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity

In related news, insider Pramod Badjate sold 3,000 shares of NETGEAR stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $23.88, for a total transaction of $71,640.00. Following the completion of the transaction, the insider directly owned 154,073 shares of the company’s stock, valued at $3,679,263.24. This trade represents a 1.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.10% of the stock is owned by company insiders.

NETGEAR Price Performance

Shares of NASDAQ:NTGR opened at $21.13 on Wednesday. The business’s fifty day moving average price is $22.72 and its two-hundred day moving average price is $23.37. NETGEAR, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $36.86. The stock has a market capitalization of $574.29 million, a price-to-earnings ratio of -22.72 and a beta of 1.17.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings data on Thursday, August 6th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.15. NETGEAR had a negative return on equity of 2.79% and a negative net margin of 3.71%.The company had revenue of $168.56 million during the quarter, compared to analysts’ expectations of $157.80 million. During the same period last year, the business earned $0.06 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. Research analysts expect that NETGEAR, Inc. will post -0.52 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wall Street Zen upgraded NETGEAR from a “sell” rating to a “hold” rating in a research note on Sunday. Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $36.50.

About NETGEAR

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.