Concentric Capital Strategies LP Makes New $7.02 Million Investment in NETGEAR, Inc. $NTGR

Concentric Capital Strategies LP acquired a new position in NETGEAR, Inc. (NASDAQ:NTGR) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 286,176 shares of the communications equipment provider’s stock, valued at approximately $7,020,000. Concentric Capital Strategies LP owned approximately 1.01% of NETGEAR as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Amundi increased its stake in NETGEAR by 99.1% in the 1st quarter. Amundi now owns 48,211 shares of the communications equipment provider’s stock worth $1,179,000 after acquiring an additional 23,993 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in NETGEAR by 15.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 279,874 shares of the communications equipment provider’s stock worth $6,846,000 after acquiring an additional 37,469 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in NETGEAR by 13.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,146 shares of the communications equipment provider’s stock worth $1,814,000 after acquiring an additional 9,021 shares during the last quarter. Legal & General Group Plc increased its stake in NETGEAR by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 34,690 shares of the communications equipment provider’s stock worth $1,008,000 after acquiring an additional 1,788 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in NETGEAR by 2.3% in the 2nd quarter. Rhumbline Advisers now owns 51,678 shares of the communications equipment provider’s stock worth $1,502,000 after acquiring an additional 1,140 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NTGR has been the topic of a number of research analyst reports. Zacks Research upgraded NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a research note on Friday, March 27th. Finally, Wall Street Zen upgraded shares of NETGEAR from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $36.00.

Insider Activity at NETGEAR

In related news, insider Pramod Badjate sold 3,000 shares of NETGEAR stock in a transaction on Friday, May 1st. The shares were sold at an average price of $25.47, for a total value of $76,410.00. Following the transaction, the insider owned 165,513 shares in the company, valued at $4,215,616.11. This trade represents a 1.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Shravan Goli sold 3,381 shares of NETGEAR stock in a transaction on Monday, June 1st. The stock was sold at an average price of $26.89, for a total transaction of $90,915.09. Following the completion of the transaction, the director owned 25,857 shares in the company, valued at approximately $695,294.73. The trade was a 11.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 12,085 shares of company stock worth $318,703. Corporate insiders own 3.10% of the company’s stock.

NETGEAR Stock Performance

NETGEAR stock opened at $22.77 on Thursday. The firm’s fifty day moving average price is $25.28 and its 200-day moving average price is $23.56. The stock has a market cap of $611.15 million, a P/E ratio of -25.88 and a beta of 1.17. NETGEAR, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $36.86.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.14. The firm had revenue of $158.82 million for the quarter, compared to analysts’ expectations of $152.49 million. NETGEAR had a negative net margin of 3.58% and a negative return on equity of 2.71%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the company posted $0.02 EPS. On average, analysts predict that NETGEAR, Inc. will post -0.5 earnings per share for the current year.

NETGEAR Company Profile

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.