Arrowstreet Capital Limited Partnership Lowers Holdings in NETGEAR, Inc. $NTGR

Arrowstreet Capital Limited Partnership decreased its holdings in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 21.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 626,599 shares of the communications equipment provider’s stock after selling 176,147 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in NETGEAR were worth $13,685,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NTGR. Johnson Financial Group Inc. purchased a new stake in NETGEAR in the 4th quarter valued at about $25,000. Comerica Bank lifted its position in NETGEAR by 64.8% in the third quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock valued at $35,000 after buying an additional 429 shares during the last quarter. IFP Advisors Inc lifted its position in NETGEAR by 161.7% in the fourth quarter. IFP Advisors Inc now owns 2,243 shares of the communications equipment provider’s stock valued at $55,000 after buying an additional 1,386 shares during the last quarter. Fifth Third Bancorp boosted its stake in NETGEAR by 6,085.7% during the first quarter. Fifth Third Bancorp now owns 3,031 shares of the communications equipment provider’s stock worth $66,000 after buying an additional 2,982 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in NETGEAR by 35.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the communications equipment provider’s stock worth $101,000 after buying an additional 904 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, Director Sarah Butterfass sold 2,704 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $26.90, for a total transaction of $72,737.60. Following the completion of the transaction, the director directly owned 38,953 shares of the company’s stock, valued at $1,047,835.70. The trade was a 6.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Laura Durr sold 2,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $25.94, for a total value of $51,880.00. Following the sale, the director owned 43,059 shares in the company, valued at approximately $1,116,950.46. This trade represents a 4.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 9,085 shares of company stock worth $242,293 over the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, NETGEAR currently has an average rating of “Hold” and a consensus price target of $36.00.

NETGEAR Trading Up 5.3%

NTGR opened at $24.16 on Friday. The stock’s 50-day moving average price is $23.88 and its 200 day moving average price is $23.18. NETGEAR, Inc. has a 12-month low of $19.00 and a 12-month high of $36.86. The firm has a market cap of $648.45 million, a price-to-earnings ratio of -27.45 and a beta of 1.19.

NETGEAR (NASDAQ:NTGR) last announced its earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.14. The company had revenue of $158.82 million during the quarter, compared to analysts’ expectations of $152.49 million. NETGEAR had a negative return on equity of 2.71% and a negative net margin of 3.58%.NETGEAR’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the business posted $0.02 EPS. On average, research analysts forecast that NETGEAR, Inc. will post -0.5 earnings per share for the current year.

About NETGEAR

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.