Franklin Resources Inc. Increases Position in NETGEAR, Inc. (NASDAQ:NTGR)

Franklin Resources Inc. grew its holdings in NETGEAR, Inc. (NASDAQ:NTGR) by 5.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 42,673 shares of the communications equipment provider’s stock after purchasing an additional 2,166 shares during the quarter. Franklin Resources Inc.’s holdings in NETGEAR were worth $883,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Renaissance Technologies LLC grew its stake in shares of NETGEAR by 10.6% during the second quarter. Renaissance Technologies LLC now owns 263,018 shares of the communications equipment provider’s stock worth $4,024,000 after purchasing an additional 25,200 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of NETGEAR by 125.0% in the 2nd quarter. Federated Hermes Inc. now owns 127,892 shares of the communications equipment provider’s stock valued at $1,957,000 after acquiring an additional 71,054 shares during the period. Brandes Investment Partners LP boosted its stake in NETGEAR by 6.8% during the 2nd quarter. Brandes Investment Partners LP now owns 3,896,492 shares of the communications equipment provider’s stock worth $59,246,000 after purchasing an additional 247,162 shares during the period. Empowered Funds LLC increased its stake in NETGEAR by 23.2% in the third quarter. Empowered Funds LLC now owns 141,976 shares of the communications equipment provider’s stock valued at $2,848,000 after purchasing an additional 26,756 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of NETGEAR during the third quarter worth about $1,805,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised NETGEAR from a “hold” rating to a “buy” rating in a report on Friday, November 1st.

NETGEAR Stock Down 3.1 %

NASDAQ:NTGR opened at $28.14 on Monday. The stock has a fifty day simple moving average of $24.31 and a 200-day simple moving average of $19.49. The company has a market capitalization of $809.59 million, a PE ratio of 43.29 and a beta of 0.86. NETGEAR, Inc. has a 52-week low of $10.48 and a 52-week high of $31.55.

Insiders Place Their Bets

In other NETGEAR news, Director Thomas H. Waechter sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $30.42, for a total transaction of $60,840.00. Following the completion of the sale, the director now owns 61,135 shares in the company, valued at $1,859,726.70. This trade represents a 3.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.00% of the stock is owned by corporate insiders.

NETGEAR Profile

NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.