Allspring Global Investments Holdings LLC Buys 6,921 Shares of NETGEAR, Inc. (NASDAQ:NTGR)

Allspring Global Investments Holdings LLC lifted its holdings in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 229.2% during the 1st quarter, Holdings Channel reports. The firm owned 9,940 shares of the communications equipment provider’s stock after purchasing an additional 6,921 shares during the period. Allspring Global Investments Holdings LLC’s holdings in NETGEAR were worth $157,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in NTGR. Jacobs Levy Equity Management Inc. increased its holdings in shares of NETGEAR by 66.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 440,030 shares of the communications equipment provider’s stock worth $5,540,000 after purchasing an additional 175,288 shares during the period. First Eagle Investment Management LLC bought a new position in NETGEAR in the fourth quarter valued at approximately $1,713,000. Walleye Capital LLC increased its stake in NETGEAR by 279.2% in the third quarter. Walleye Capital LLC now owns 151,718 shares of the communications equipment provider’s stock valued at $1,910,000 after acquiring an additional 111,713 shares during the last quarter. Donald Smith & CO. Inc. increased its stake in NETGEAR by 39.1% in the fourth quarter. Donald Smith & CO. Inc. now owns 292,192 shares of the communications equipment provider’s stock valued at $4,260,000 after acquiring an additional 82,192 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in NETGEAR in the fourth quarter valued at approximately $968,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, BWS Financial restated a “neutral” rating and issued a $13.00 target price on shares of NETGEAR in a research report on Thursday, May 2nd.

NETGEAR Stock Up 2.1 %

Shares of NASDAQ NTGR opened at $14.85 on Friday. NETGEAR, Inc. has a twelve month low of $10.40 and a twelve month high of $15.93. The firm has a fifty day simple moving average of $13.78 and a 200 day simple moving average of $14.32. The company has a market capitalization of $432.14 million, a PE ratio of -3.86 and a beta of 0.81.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, May 1st. The communications equipment provider reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.04). NETGEAR had a negative net margin of 15.69% and a negative return on equity of 3.73%. The company had revenue of $164.59 million during the quarter, compared to the consensus estimate of $163.86 million. As a group, equities analysts expect that NETGEAR, Inc. will post -2.02 earnings per share for the current fiscal year.

Insider Transactions at NETGEAR

In other news, Director Sarah Butterfass sold 5,626 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $13.36, for a total transaction of $75,163.36. Following the completion of the sale, the director now directly owns 40,744 shares of the company’s stock, valued at $544,339.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other NETGEAR news, Director Sarah Butterfass sold 5,626 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $13.36, for a total value of $75,163.36. Following the transaction, the director now directly owns 40,744 shares in the company, valued at $544,339.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew Wonki Kim sold 5,723 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $14.54, for a total transaction of $83,212.42. Following the completion of the transaction, the insider now owns 76,656 shares in the company, valued at $1,114,578.24. The disclosure for this sale can be found here. Insiders sold a total of 29,967 shares of company stock valued at $391,240 over the last three months. Corporate insiders own 7.00% of the company’s stock.

NETGEAR Company 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.