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:NTGRFree Report) 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:NTGRGet Free Report) 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.

Read Our Latest Stock Analysis on NETGEAR

NETGEAR Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding NTGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NETGEAR, Inc. (NASDAQ:NTGRFree Report).

Institutional Ownership by Quarter for NETGEAR (NASDAQ:NTGR)

Receive News & Ratings for NETGEAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NETGEAR and related companies with MarketBeat.com's FREE daily email newsletter.