NETGEAR, Inc. (NASDAQ:NTGR) Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC decreased its position in NETGEAR, Inc. (NASDAQ:NTGR) by 0.9% in the 4th quarter, HoldingsChannel reports. The firm owned 120,467 shares of the communications equipment provider’s stock after selling 1,050 shares during the period. First Eagle Investment Management LLC’s holdings in NETGEAR were worth $3,357,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP increased its stake in shares of NETGEAR by 66.5% during the 3rd quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock valued at $37,000 after acquiring an additional 741 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of NETGEAR by 5.3% during the 3rd quarter. Franklin Resources Inc. now owns 42,673 shares of the communications equipment provider’s stock valued at $883,000 after acquiring an additional 2,166 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of NETGEAR by 49.3% during the 4th quarter. New York State Common Retirement Fund now owns 7,566 shares of the communications equipment provider’s stock valued at $211,000 after acquiring an additional 2,500 shares during the last quarter. New York State Teachers Retirement System acquired a new position in shares of NETGEAR during the 4th quarter valued at about $72,000. Finally, R Squared Ltd acquired a new position in shares of NETGEAR during the 4th quarter valued at about $72,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In other news, Director Thomas H. Waechter sold 2,000 shares of the 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 transaction, the director now directly owns 61,135 shares in the company, valued at approximately $1,859,726.70. This represents a 3.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles J. Prober sold 10,929 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $26.64, for a total value of $291,148.56. Following the transaction, the chief executive officer now owns 507,763 shares of the company’s stock, valued at approximately $13,526,806.32. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NTGR shares. StockNews.com raised shares of NETGEAR from a “hold” rating to a “buy” rating in a research note on Thursday. Raymond James increased their target price on shares of NETGEAR from $22.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th.

NETGEAR Stock Up 1.1 %

NASDAQ NTGR 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 fifty-two week low of $10.48 and a fifty-two week high of $31.55. The business has a 50 day moving average price of $26.73 and a two-hundred day moving average price of $23.93.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.24). NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. Sell-side analysts anticipate that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.

About NETGEAR

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.