NETGEAR, Inc. $NTGR Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd decreased its stake in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 57.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,990 shares of the communications equipment provider’s stock after selling 24,350 shares during the quarter. Dynamic Technology Lab Private Ltd owned about 0.06% of NETGEAR worth $583,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pertento Partners LLP increased its stake in shares of NETGEAR by 6.0% during the second quarter. Pertento Partners LLP now owns 1,691,607 shares of the communications equipment provider’s stock worth $49,175,000 after acquiring an additional 95,955 shares during the period. Dimensional Fund Advisors LP grew its holdings in NETGEAR by 5.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,636,697 shares of the communications equipment provider’s stock valued at $53,010,000 after purchasing an additional 85,228 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of NETGEAR by 0.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,079,096 shares of the communications equipment provider’s stock worth $31,354,000 after purchasing an additional 3,114 shares in the last quarter. American Century Companies Inc. increased its position in NETGEAR by 4.1% during the second quarter. American Century Companies Inc. now owns 910,212 shares of the communications equipment provider’s stock worth $26,460,000 after buying an additional 35,873 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in NETGEAR by 10.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 690,981 shares of the communications equipment provider’s stock worth $20,087,000 after purchasing an additional 63,398 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at NETGEAR

In related news, insider Pramod Badjate sold 3,000 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $20.97, for a total value of $62,910.00. Following the completion of the transaction, the insider owned 144,586 shares of the company’s stock, valued at approximately $3,031,968.42. This represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Stifel Nicolaus set a $36.00 target price on shares of NETGEAR in a research note on Thursday, February 5th. Zacks Research downgraded NETGEAR from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research note on Monday, December 29th. Finally, Wall Street Zen lowered NETGEAR from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Two investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, NETGEAR currently has a consensus rating of “Hold” and a consensus price target of $36.00.

NETGEAR Trading Up 2.2%

Shares of NETGEAR stock opened at $21.14 on Wednesday. NETGEAR, Inc. has a twelve month low of $18.75 and a twelve month high of $36.86. The stock has a market cap of $594.25 million, a price-to-earnings ratio of -34.10 and a beta of 1.16. The company has a fifty day moving average price of $21.65 and a 200 day moving average price of $26.18.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings data on Wednesday, February 4th. The communications equipment provider reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.21. NETGEAR had a negative return on equity of 2.40% and a negative net margin of 2.56%.The company had revenue of $182.47 million for the quarter, compared to analysts’ expectations of $177.26 million. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. The firm’s quarterly revenue was up .0% on a year-over-year basis. Analysts forecast that NETGEAR, Inc. will post -1.84 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.