Cornerstone Investment Partners LLC Invests $164,000 in NETGEAR, Inc. (NASDAQ:NTGR)

Cornerstone Investment Partners LLC purchased a new position in NETGEAR, Inc. (NASDAQ:NTGR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,276 shares of the communications equipment provider’s stock, valued at approximately $164,000.

Other institutional investors also recently added to or reduced their stakes in the company. Walleye Capital LLC increased its stake in NETGEAR by 279.2% in the 3rd quarter. Walleye Capital LLC now owns 151,718 shares of the communications equipment provider’s stock worth $1,910,000 after buying an additional 111,713 shares during the period. Charles Schwab Investment Management Inc. increased its stake in NETGEAR by 15.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 659,460 shares of the communications equipment provider’s stock worth $8,303,000 after buying an additional 86,937 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in NETGEAR by 66.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 440,030 shares of the communications equipment provider’s stock worth $5,540,000 after buying an additional 175,288 shares during the period. Brandes Investment Partners LP increased its stake in NETGEAR by 38.7% in the 3rd quarter. Brandes Investment Partners LP now owns 3,465,808 shares of the communications equipment provider’s stock worth $43,635,000 after buying an additional 967,537 shares during the period. Finally, Algert Global LLC increased its stake in NETGEAR by 129.5% in the 3rd quarter. Algert Global LLC now owns 129,018 shares of the communications equipment provider’s stock worth $1,624,000 after buying an additional 72,800 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

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

NETGEAR Stock Performance

NASDAQ NTGR opened at $14.26 on Friday. The company has a market capitalization of $422.95 million, a price-to-earnings ratio of -4.02 and a beta of 0.84. The company’s 50-day simple moving average is $14.87 and its two-hundred day simple moving average is $13.89. NETGEAR, Inc. has a one year low of $10.40 and a one year high of $17.67.

NETGEAR (NASDAQ:NTGR) last posted its earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.04. The business had revenue of $188.67 million for 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 for the quarter was down 24.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.21) EPS. Equities analysts expect that NETGEAR, Inc. will post -0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at NETGEAR

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