Brandes Investment Partners LP Sells 884,330 Shares of NETGEAR, Inc. (NASDAQ:NTGR)

Brandes Investment Partners LP cut its position in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 22.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,026,179 shares of the communications equipment provider’s stock after selling 884,330 shares during the quarter. Brandes Investment Partners LP owned about 0.11% of NETGEAR worth $84,340,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in NTGR. Quarry LP boosted its position in shares of NETGEAR by 66.5% during the third quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock valued at $37,000 after purchasing an additional 741 shares in the last quarter. R Squared Ltd bought a new stake in NETGEAR in the fourth quarter worth $72,000. New York State Teachers Retirement System bought a new stake in NETGEAR in the fourth quarter worth $72,000. Meeder Asset Management Inc. bought a new stake in NETGEAR in the third quarter worth $91,000. Finally, Picton Mahoney Asset Management bought a new stake in NETGEAR in the fourth quarter worth $92,000. 82.97% of the stock is currently owned by institutional investors.

NETGEAR Stock Performance

NETGEAR stock opened at $23.90 on Friday. The stock has a market cap of $689.97 million, a PE ratio of 59.75 and a beta of 0.72. NETGEAR, Inc. has a one year low of $10.48 and a one year high of $31.55. The stock has a fifty day moving average of $26.73 and a 200 day moving average of $23.87.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, February 5th. The communications equipment provider reported ($0.24) EPS for the quarter, meeting analysts’ consensus estimates of ($0.24). NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. As a group, sell-side analysts predict that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.

Insider Activity at NETGEAR

In other NETGEAR news, Director Thomas H. Waechter sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $30.42, for a total value 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 represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Charles J. Prober sold 10,929 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $26.64, for a total value of $291,148.56. Following the completion of the sale, the chief executive officer now owns 507,763 shares of the company’s stock, valued at approximately $13,526,806.32. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on NTGR. StockNews.com raised NETGEAR from a “hold” rating to a “buy” rating in a report on Thursday. Raymond James upped their price target on NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a report on Thursday, February 6th.

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.