NETGEAR, Inc. (NASDAQ:NTGR) Shares Acquired by Sterling Capital Management LLC

Sterling Capital Management LLC boosted its holdings in NETGEAR, Inc. (NASDAQ:NTGR) by 16,398.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,344 shares of the communications equipment provider’s stock after acquiring an additional 15,251 shares during the period. Sterling Capital Management LLC owned 0.05% of NETGEAR worth $428,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. New York State Teachers Retirement System purchased a new position in shares of NETGEAR during the 4th quarter worth $72,000. R Squared Ltd acquired a new stake in shares of NETGEAR during the fourth quarter valued at about $72,000. Picton Mahoney Asset Management purchased a new stake in shares of NETGEAR in the 4th quarter valued at approximately $92,000. AlphaQuest LLC purchased a new position in shares of NETGEAR during the 4th quarter worth approximately $185,000. Finally, New York State Common Retirement Fund increased its holdings in 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 during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NTGR has been the subject of several research analyst reports. Raymond James raised their price target on NETGEAR from $22.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. StockNews.com downgraded NETGEAR from a “buy” rating to a “hold” rating in a research report on Friday, March 21st.

Insider Activity at NETGEAR

In other news, CEO Charles J. Prober sold 10,929 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 507,763 shares of the company’s stock, valued at approximately $13,526,806.32. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Murray Bryan sold 3,848 shares of NETGEAR stock in a transaction on Friday, March 14th. The shares were sold at an average price of $23.92, for a total transaction of $92,044.16. Following the completion of the transaction, the chief financial officer now directly owns 193,032 shares in the company, valued at $4,617,325.44. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.

NETGEAR Price Performance

Shares of NASDAQ NTGR opened at $22.11 on Friday. The stock’s 50-day moving average is $24.29 and its two-hundred day moving average is $24.68. The company has a market cap of $638.29 million, a price-to-earnings ratio of 55.28 and a beta of 1.03. NETGEAR, Inc. has a 1-year low of $10.48 and a 1-year high of $31.55.

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

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.