Empowered Funds LLC Boosts Stock Holdings in NETGEAR, Inc. (NASDAQ:NTGR)

Empowered Funds LLC increased its stake in NETGEAR, Inc. (NASDAQ:NTGR) by 5.1% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 149,219 shares of the communications equipment provider’s stock after buying an additional 7,243 shares during the quarter. Empowered Funds LLC’s holdings in NETGEAR were worth $4,159,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP boosted its holdings in shares of NETGEAR by 66.5% in the 3rd quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock worth $37,000 after buying an additional 741 shares during the last quarter. R Squared Ltd purchased a new position in shares of NETGEAR in the 4th quarter worth about $72,000. Meeder Asset Management Inc. purchased a new position in shares of NETGEAR in the 3rd quarter worth about $91,000. Values First Advisors Inc. purchased a new position in shares of NETGEAR in the 3rd quarter worth about $144,000. Finally, Creative Planning purchased a new position in shares of NETGEAR in the 3rd quarter worth about $235,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

NETGEAR Stock Down 4.8 %

NASDAQ NTGR opened at $29.42 on Thursday. The company has a market cap of $846.41 million, a PE ratio of 73.55 and a beta of 0.83. NETGEAR, Inc. has a 52 week low of $10.48 and a 52 week high of $31.55. The firm’s 50-day simple moving average is $27.15 and its two-hundred day simple moving average is $22.33.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, February 5th. The communications equipment provider reported ($0.24) EPS for the quarter, meeting the consensus estimate of ($0.24). NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. As a group, equities research analysts anticipate that NETGEAR, Inc. will post -1.84 EPS for the current year.

Insider Buying and Selling at NETGEAR

In other news, Director Thomas H. Waechter sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $30.42, for a total value of $60,840.00. Following the completion of the transaction, the director now directly owns 61,135 shares in the company, valued at approximately $1,859,726.70. This trade represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NTGR. StockNews.com raised shares of NETGEAR from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Raymond James upped their price objective on shares of NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a report on Thursday, February 6th.

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.