NETGEAR, Inc. (NASDAQ:NTGR) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 17.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 170,281 shares of the communications equipment provider’s stock after acquiring an additional 24,868 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in NETGEAR were worth $4,746,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quarry LP lifted its position in NETGEAR by 66.5% during the 3rd quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock worth $37,000 after acquiring an additional 741 shares in the last quarter. Franklin Resources Inc. raised its position in shares of NETGEAR by 5.3% in the 3rd quarter. Franklin Resources Inc. now owns 42,673 shares of the communications equipment provider’s stock valued at $883,000 after purchasing an additional 2,166 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of NETGEAR by 49.3% in 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 purchasing an additional 2,500 shares in the last quarter. New York State Teachers Retirement System acquired a new position in shares of NETGEAR in the 4th quarter valued at approximately $72,000. Finally, R Squared Ltd acquired a new position in shares of NETGEAR in the 4th quarter valued at approximately $72,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NTGR has been the topic of a number of recent analyst reports. Raymond James upped their target price on NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. StockNews.com raised NETGEAR from a “hold” rating to a “buy” rating in a research report on Thursday.

NETGEAR Trading Up 1.1 %

Shares of NASDAQ NTGR opened at $23.90 on Monday. NETGEAR, Inc. has a twelve month low of $10.48 and a twelve month high of $31.55. The company has a market capitalization of $689.97 million, a price-to-earnings ratio of 59.75 and a beta of 0.72. The business has a 50 day simple moving average of $26.73 and a 200-day simple moving average of $23.98.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share 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, equities analysts predict that NETGEAR, Inc. will post -1.84 earnings per share for the current year.

Insider Activity

In related news, Director Thomas H. Waechter sold 2,000 shares of the company’s stock in a transaction 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 $1,859,726.70. This represents a 3.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles J. Prober sold 10,929 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was 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. The trade was 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.

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.