Great Lakes Advisors LLC Makes New Investment in NETGEAR, Inc. $NTGR

Great Lakes Advisors LLC bought a new stake in NETGEAR, Inc. (NASDAQ:NTGR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 28,858 shares of the communications equipment provider’s stock, valued at approximately $674,000. Great Lakes Advisors LLC owned approximately 0.11% of NETGEAR as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NTGR. Concentric Capital Strategies LP bought a new stake in shares of NETGEAR in the fourth quarter worth $7,020,000. Anchor Capital Advisors LLC bought a new position in NETGEAR during the 4th quarter valued at $2,131,000. Renaissance Technologies LLC boosted its stake in NETGEAR by 77.8% during the 1st quarter. Renaissance Technologies LLC now owns 557,462 shares of the communications equipment provider’s stock valued at $12,175,000 after acquiring an additional 243,843 shares during the last quarter. OP Asset Management Ltd bought a new position in NETGEAR during the 1st quarter valued at $5,266,000. Finally, Leuthold Group LLC grew its holdings in NETGEAR by 56.1% during the 4th quarter. Leuthold Group LLC now owns 159,432 shares of the communications equipment provider’s stock worth $3,911,000 after acquiring an additional 57,266 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

NETGEAR Trading Down 0.4%

Shares of NTGR opened at $21.02 on Friday. NETGEAR, Inc. has a 52 week low of $19.00 and a 52 week high of $36.86. The firm has a market cap of $571.32 million, a price-to-earnings ratio of -22.60 and a beta of 1.20. The stock has a 50 day moving average of $23.22 and a 200-day moving average of $23.32.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings results on Thursday, August 6th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.15. NETGEAR had a negative return on equity of 2.79% and a negative net margin of 3.71%.The business had revenue of $168.56 million for the quarter, compared to analyst estimates of $157.80 million. During the same period in the prior year, the company posted $0.06 EPS. The business’s revenue was down 1.2% compared to the same quarter last year. On average, sell-side analysts predict that NETGEAR, Inc. will post -0.52 earnings per share for the current fiscal year.

Insider Buying and Selling at NETGEAR

In other NETGEAR news, Director Laura Durr sold 1,000 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $26.76, for a total transaction of $26,760.00. Following the sale, the director directly owned 42,059 shares of the company’s stock, valued at approximately $1,125,498.84. This represents a 2.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pramod Badjate sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $23.88, for a total transaction of $71,640.00. Following the completion of the transaction, the insider owned 154,073 shares in the company, valued at approximately $3,679,263.24. The trade was a 1.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 12,085 shares of company stock worth $313,933 in the last ninety days. 3.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of NETGEAR in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $36.50.

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.