Mirae Asset Global Investments Co. Ltd. Trims Holdings in NETGEAR, Inc. (NASDAQ:NTGR)

Mirae Asset Global Investments Co. Ltd. trimmed its position in NETGEAR, Inc. (NASDAQ:NTGR) by 4.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 63,364 shares of the communications equipment provider’s stock after selling 2,902 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in NETGEAR were worth $924,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its holdings in NETGEAR by 4.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 294,370 shares of the communications equipment provider’s stock valued at $4,292,000 after purchasing an additional 12,692 shares in the last quarter. Walleye Capital LLC increased its stake in shares of NETGEAR by 279.2% during the 3rd quarter. Walleye Capital LLC now owns 151,718 shares of the communications equipment provider’s stock valued at $1,910,000 after acquiring an additional 111,713 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of NETGEAR by 66.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 440,030 shares of the communications equipment provider’s stock valued at $5,540,000 after acquiring an additional 175,288 shares during the last quarter. Kennedy Capital Management LLC acquired a new position in shares of NETGEAR during the 3rd quarter valued at about $1,449,000. Finally, Laurion Capital Management LP acquired a new position in shares of NETGEAR during the 3rd quarter valued at about $151,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

NETGEAR Price Performance

NASDAQ NTGR opened at $14.58 on Wednesday. The company has a 50-day moving average of $14.90 and a 200-day moving average of $13.96. The company has a market cap of $423.84 million, a P/E ratio of -4.11 and a beta of 0.84. NETGEAR, Inc. has a 12 month low of $10.40 and a 12 month high of $17.67.

NETGEAR (NASDAQ:NTGR) last posted its earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.04. The firm had revenue of $188.67 million during the quarter, compared to the consensus estimate of $185.14 million. NETGEAR had a negative net margin of 14.14% and a negative return on equity of 2.96%. The company’s revenue was down 24.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.21) EPS. As a group, equities research analysts anticipate that NETGEAR, Inc. will post -0.16 EPS for the current year.

Insider Buying and Selling

In related news, insider Andrew Wonki Kim sold 5,723 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $14.54, for a total transaction of $83,212.42. Following the completion of the sale, the insider now owns 76,656 shares of the company’s stock, valued at approximately $1,114,578.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other NETGEAR news, insider Andrew Wonki Kim sold 5,723 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $14.54, for a total value of $83,212.42. Following the completion of the sale, the insider now owns 76,656 shares of the company’s stock, valued at $1,114,578.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Vikram Mehta sold 1,844 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $14.48, for a total transaction of $26,701.12. Following the completion of the sale, the senior vice president now directly owns 25,569 shares of the company’s stock, valued at approximately $370,239.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,456 shares of company stock valued at $195,304. 6.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, BWS Financial reaffirmed a “buy” rating and set a $30.00 price objective on shares of NETGEAR in a research note on Wednesday, April 10th.

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.