NETGEAR, Inc. (NASDAQ:NTGR) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its position in NETGEAR, Inc. (NASDAQ:NTGR) by 7.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 123,410 shares of the communications equipment provider’s stock after buying an additional 8,050 shares during the period. Bank of New York Mellon Corp’s holdings in NETGEAR were worth $1,888,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its holdings in NETGEAR by 14.0% in the 4th quarter. Russell Investments Group Ltd. now owns 34,876 shares of the communications equipment provider’s stock valued at $508,000 after purchasing an additional 4,290 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in NETGEAR by 9.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 723,246 shares of the communications equipment provider’s stock valued at $10,545,000 after acquiring an additional 63,786 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in NETGEAR by 40.1% in the 4th quarter. BNP Paribas Financial Markets now owns 75,354 shares of the communications equipment provider’s stock valued at $1,099,000 after acquiring an additional 21,587 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in NETGEAR by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,342,061 shares of the communications equipment provider’s stock worth $19,568,000 after purchasing an additional 26,519 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of NETGEAR during the 4th quarter worth approximately $968,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com cut shares of NETGEAR from a “buy” rating to a “hold” rating in a research note on Tuesday.

NETGEAR Stock Down 2.1 %

NTGR opened at $20.91 on Wednesday. The firm has a market cap of $608.48 million, a P/E ratio of -5.43 and a beta of 0.82. The business has a fifty day simple moving average of $16.07 and a 200-day simple moving average of $14.90. NETGEAR, Inc. has a 52 week low of $10.40 and a 52 week high of $22.62.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, July 31st. The communications equipment provider reported ($0.94) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.94). NETGEAR had a negative return on equity of 7.52% and a negative net margin of 21.62%. The business had revenue of $143.90 million for the quarter, compared to analyst estimates of $132.69 million. Sell-side analysts expect that NETGEAR, Inc. will post -2.29 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Thomas H. Waechter sold 2,500 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $20.00, for a total value of $50,000.00. Following the completion of the sale, the director now directly owns 65,318 shares of the company’s stock, valued at $1,306,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.00% of the stock is currently owned by company 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.