NETGEAR, Inc. (NASDAQ:NTGR) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in NETGEAR, Inc. (NASDAQ:NTGR) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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. owned 0.21% of NETGEAR worth $924,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Allspring Global Investments Holdings LLC raised its position in shares of NETGEAR by 52.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,664 shares of the communications equipment provider’s stock valued at $46,000 after buying an additional 1,257 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of NETGEAR by 121.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,842 shares of the communications equipment provider’s stock valued at $99,000 after buying an additional 4,295 shares during the last quarter. AXQ Capital LP acquired a new stake in shares of NETGEAR in the third quarter valued at about $140,000. Aigen Investment Management LP acquired a new stake in shares of NETGEAR in the third quarter valued at about $147,000. Finally, Laurion Capital Management LP acquired a new stake in shares of NETGEAR in the third quarter valued at about $151,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NETGEAR news, insider Andrew Wonki Kim sold 5,889 shares of NETGEAR stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.50, for a total transaction of $85,390.50. Following the completion of the sale, the insider now directly owns 88,001 shares in the company, valued at $1,276,014.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NETGEAR news, SVP Vikram Mehta sold 1,844 shares of NETGEAR stock in a transaction dated 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 in the company, valued at $370,239.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew Wonki Kim sold 5,889 shares of NETGEAR stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.50, for a total transaction of $85,390.50. Following the sale, the insider now owns 88,001 shares of the company’s stock, valued at $1,276,014.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,456 shares of company stock worth $195,304. Insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, BWS Financial reiterated a “buy” rating and issued a $30.00 target price on shares of NETGEAR in a research report on Wednesday, April 10th.

NETGEAR Trading Up 1.2 %

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

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

About NETGEAR

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.