Arrowstreet Capital Limited Partnership Has $18.82 Million Stake in NETGEAR, Inc. (NASDAQ:NTGR)

Arrowstreet Capital Limited Partnership grew its position in NETGEAR, Inc. (NASDAQ:NTGR) by 126.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 675,209 shares of the communications equipment provider’s stock after purchasing an additional 376,974 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in NETGEAR were worth $18,818,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in NTGR. American Century Companies Inc. lifted its stake in NETGEAR by 31.6% during the fourth quarter. American Century Companies Inc. now owns 770,464 shares of the communications equipment provider’s stock worth $21,473,000 after purchasing an additional 184,863 shares during the last quarter. Tenzing Global Management LLC acquired a new position in shares of NETGEAR during the 3rd quarter worth $3,510,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of NETGEAR by 17.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 170,281 shares of the communications equipment provider’s stock worth $4,746,000 after buying an additional 24,868 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in NETGEAR in the fourth quarter valued at about $4,449,000. Finally, Empowered Funds LLC boosted its stake in NETGEAR by 5.1% in the fourth quarter. Empowered Funds LLC now owns 149,219 shares of the communications equipment provider’s stock valued at $4,159,000 after buying an additional 7,243 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

NETGEAR Price Performance

NASDAQ:NTGR opened at $19.97 on Friday. NETGEAR, Inc. has a one year low of $10.48 and a one year high of $31.55. The company has a market cap of $576.51 million, a PE ratio of 49.93 and a beta of 1.03. The firm’s 50 day simple moving average is $25.78 and its 200 day simple moving average is $24.58.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) EPS for the quarter, hitting analysts’ consensus estimates of ($0.24). NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. Equities research analysts expect that NETGEAR, Inc. will post -1.84 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. StockNews.com cut shares of NETGEAR from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Raymond James boosted 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.

Insiders Place Their Bets

In other NETGEAR news, CEO Charles J. Prober sold 10,929 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $26.64, for a total transaction of $291,148.56. Following the completion of the transaction, the chief executive officer now owns 507,763 shares in the company, valued at approximately $13,526,806.32. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Murray Bryan sold 3,848 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $23.92, for a total transaction of $92,044.16. Following the completion of the sale, the chief financial officer now directly owns 193,032 shares in the company, valued at approximately $4,617,325.44. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.00% of the company’s stock.

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.