NETGEAR, Inc. (NASDAQ:NTGR) VP Graeme Mclindin Sells 2,377 Shares

NETGEAR, Inc. (NASDAQ:NTGR) VP Graeme Mclindin sold 2,377 shares of the company’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $28.38, for a total value of $67,459.26. Following the completion of the transaction, the vice president now directly owns 61,208 shares of the company’s stock, valued at approximately $1,737,083.04. This trade represents a 3.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

NETGEAR Stock Performance

NTGR stock opened at $27.22 on Wednesday. The company’s fifty day moving average price is $27.20 and its 200-day moving average price is $26.41. NETGEAR, Inc. has a one year low of $13.96 and a one year high of $31.55. The company has a market capitalization of $783.39 million, a PE ratio of 33.20 and a beta of 1.14.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, April 30th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.37. The company had revenue of $162.06 million for the quarter, compared to the consensus estimate of $152.24 million. NETGEAR had a net margin of 3.72% and a negative return on equity of 7.63%. NETGEAR’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.28) EPS. On average, research analysts predict that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.

Institutional Investors Weigh In On NETGEAR

Several large investors have recently made changes to their positions in the company. Hsbc Holdings PLC grew its holdings in NETGEAR by 29.3% during the 4th quarter. Hsbc Holdings PLC now owns 73,209 shares of the communications equipment provider’s stock valued at $2,012,000 after buying an additional 16,588 shares in the last quarter. Tenzing Global Management LLC raised its stake in NETGEAR by 64.3% during the fourth quarter. Tenzing Global Management LLC now owns 287,500 shares of the communications equipment provider’s stock valued at $8,013,000 after purchasing an additional 112,500 shares in the last quarter. Rhumbline Advisers lifted its position in NETGEAR by 32.0% during the fourth quarter. Rhumbline Advisers now owns 69,841 shares of the communications equipment provider’s stock valued at $1,946,000 after purchasing an additional 16,920 shares during the last quarter. Bailard Inc. purchased a new position in shares of NETGEAR in the 4th quarter worth $362,000. Finally, Ameriprise Financial Inc. grew its stake in shares of NETGEAR by 30.7% in the 4th quarter. Ameriprise Financial Inc. now owns 116,525 shares of the communications equipment provider’s stock worth $3,248,000 after buying an additional 27,379 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised NETGEAR from a “hold” rating to a “buy” rating in a report on Monday, May 5th.

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.