160,000 Shares in NETGEAR, Inc. $NTGR Purchased by Manatuck Hill Partners LLC

Manatuck Hill Partners LLC bought a new stake in shares of NETGEAR, Inc. (NASDAQ:NTGR) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 160,000 shares of the communications equipment provider’s stock, valued at approximately $3,736,000. NETGEAR comprises 1.2% of Manatuck Hill Partners LLC’s holdings, making the stock its 25th biggest position.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of NETGEAR in the 2nd quarter valued at approximately $82,799,000. Windward Management LP acquired a new position in NETGEAR during the 4th quarter valued at about $35,468,000. Concentric Capital Strategies LP acquired a new position in shares of NETGEAR during the fourth quarter worth approximately $7,020,000. Lazard Asset Management LLC grew its stake in shares of NETGEAR by 87.6% in the third quarter. Lazard Asset Management LLC now owns 548,911 shares of the communications equipment provider’s stock worth $17,779,000 after purchasing an additional 256,266 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in NETGEAR by 77.8% during the 1st quarter. Renaissance Technologies LLC now owns 557,462 shares of the communications equipment provider’s stock valued at $12,175,000 after buying an additional 243,843 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NETGEAR

In related news, Director Laura Durr sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $25.94, for a total transaction of $51,880.00. Following the transaction, the director owned 43,059 shares of the company’s stock, valued at approximately $1,116,950.46. This trade represents a 4.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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. Also, Director Sarah Butterfass sold 2,704 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $26.90, for a total transaction of $72,737.60. Following the transaction, the director owned 38,953 shares in the company, valued at $1,047,835.70. This represents a 6.49% 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 quarter, insiders have sold 12,085 shares of company stock valued at $313,933. Insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of NETGEAR in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $36.50.

NETGEAR Stock Performance

NETGEAR stock opened at $21.39 on Wednesday. The firm has a market capitalization of $581.38 million, a price-to-earnings ratio of -23.00 and a beta of 1.20. The company has a 50 day moving average price of $23.08 and a 200 day moving average price of $23.34. NETGEAR, Inc. has a 52 week low of $19.00 and a 52 week high of $36.86.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings results on Thursday, August 6th. The communications equipment provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.15. NETGEAR had a negative return on equity of 2.79% and a negative net margin of 3.71%.The firm had revenue of $168.56 million for the quarter, compared to analyst estimates of $157.80 million. During the same period in the previous year, the firm earned $0.06 earnings per share. NETGEAR’s quarterly revenue was down 1.2% on a year-over-year basis. Equities analysts forecast that NETGEAR, Inc. will post -0.52 earnings per share for the current fiscal year.

NETGEAR 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.