Los Angeles Capital Management LLC Sells 5,095 Shares of NETGEAR, Inc. (NASDAQ:NTGR)

Los Angeles Capital Management LLC lowered its stake in NETGEAR, Inc. (NASDAQ:NTGR) by 5.7% during the fourth quarter, Holdings Channel reports. The firm owned 84,885 shares of the communications equipment provider’s stock after selling 5,095 shares during the period. Los Angeles Capital Management LLC’s holdings in NETGEAR were worth $2,366,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tenzing Global Management LLC acquired a new stake in shares of NETGEAR in the 3rd quarter valued at $3,510,000. Empowered Funds LLC lifted its holdings in shares of NETGEAR by 5.1% in the fourth quarter. Empowered Funds LLC now owns 149,219 shares of the communications equipment provider’s stock worth $4,159,000 after acquiring an additional 7,243 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of NETGEAR by 124.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,413 shares of the communications equipment provider’s stock valued at $2,917,000 after purchasing an additional 80,746 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of NETGEAR by 285.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 79,693 shares of the communications equipment provider’s stock valued at $2,221,000 after purchasing an additional 59,005 shares during the last quarter. Finally, Rhumbline Advisers increased its position in NETGEAR by 32.0% during the 4th quarter. Rhumbline Advisers now owns 69,841 shares of the communications equipment provider’s stock worth $1,946,000 after purchasing an additional 16,920 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Charles J. Prober sold 10,929 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $26.64, for a total transaction of $291,148.56. Following the completion of the transaction, the chief executive officer now directly owns 507,763 shares in the company, valued at $13,526,806.32. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas H. Waechter sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were 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. The trade was a 3.17 % 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.

Analysts Set New Price Targets

A number of analysts have weighed in on NTGR shares. StockNews.com raised shares of NETGEAR from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Raymond James raised their price objective on NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a report on Thursday, February 6th.

NETGEAR Price Performance

Shares of NASDAQ NTGR opened at $25.92 on Friday. The company has a 50 day simple moving average of $27.57 and a 200 day simple moving average of $23.22. NETGEAR, Inc. has a 1 year low of $10.48 and a 1 year high of $31.55. The firm has a market cap of $748.28 million, a PE ratio of 64.80 and a beta of 0.83.

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