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

Connor Clark & Lunn Investment Management Ltd. grew its position in NETGEAR, Inc. (NASDAQ:NTGR) by 17.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 170,281 shares of the communications equipment provider’s stock after acquiring an additional 24,868 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.59% of NETGEAR worth $4,746,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Quarry LP raised its stake in shares of NETGEAR by 66.5% during the third quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock worth $37,000 after purchasing an additional 741 shares during the last quarter. R Squared Ltd purchased a new stake in shares of NETGEAR during the fourth quarter worth approximately $72,000. New York State Teachers Retirement System purchased a new stake in shares of NETGEAR during the fourth quarter worth approximately $72,000. Meeder Asset Management Inc. purchased a new stake in shares of NETGEAR during the third quarter worth approximately $91,000. Finally, AlphaQuest LLC purchased a new stake in shares of NETGEAR during the fourth quarter worth approximately $185,000. 82.97% of the stock is owned by institutional investors and hedge funds.

NETGEAR Stock Up 1.1 %

NTGR opened at $23.90 on Monday. The firm has a market cap of $689.97 million, a P/E ratio of 59.75 and a beta of 0.72. NETGEAR, Inc. has a 52 week low of $10.48 and a 52 week high of $31.55. The business’s fifty day simple moving average is $26.73 and its 200 day simple moving average is $23.98.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, February 5th. The communications equipment provider reported ($0.24) EPS 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 expect that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.

Insider Activity at NETGEAR

In other NETGEAR 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 value of $291,148.56. Following 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 trade represents a 2.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas H. Waechter sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was 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 directly owns 61,135 shares in the company, valued at approximately $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. Corporate insiders own 7.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on NTGR. StockNews.com upgraded NETGEAR from a “hold” rating to a “buy” rating in a research note on Thursday. Raymond James increased their price objective on NETGEAR from $22.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th.

NETGEAR Company 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.