2,566 Shares in NETGEAR, Inc. (NASDAQ:NTGR) Bought by New York State Teachers Retirement System

New York State Teachers Retirement System acquired a new position in shares of NETGEAR, Inc. (NASDAQ:NTGR) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,566 shares of the communications equipment provider’s stock, valued at approximately $72,000.

Other large investors also recently bought and sold shares of the company. Quarry LP boosted its holdings in shares of NETGEAR by 66.5% during the 3rd quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock worth $37,000 after purchasing an additional 741 shares during the last quarter. Franklin Resources Inc. increased its stake in NETGEAR by 5.3% during the third quarter. Franklin Resources Inc. now owns 42,673 shares of the communications equipment provider’s stock worth $883,000 after purchasing an additional 2,166 shares during the period. R Squared Ltd purchased a new position in NETGEAR in the fourth quarter valued at $72,000. Barclays PLC raised its holdings in NETGEAR by 10.5% in the third quarter. Barclays PLC now owns 43,385 shares of the communications equipment provider’s stock valued at $870,000 after acquiring an additional 4,125 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of NETGEAR during the third quarter worth $91,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

NETGEAR Trading Down 1.8 %

NASDAQ NTGR opened at $25.72 on Tuesday. NETGEAR, Inc. has a twelve month low of $10.48 and a twelve month high of $31.55. The business’s 50-day moving average price is $27.60 and its 200 day moving average price is $23.03. The company has a market capitalization of $742.54 million, a PE ratio of 64.30 and a beta of 0.83.

NETGEAR (NASDAQ:NTGR) last announced its earnings results 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 negative return on equity of 9.24% and a net margin of 1.83%. Equities analysts predict that NETGEAR, Inc. will post -1.84 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on NTGR shares. StockNews.com upgraded shares of NETGEAR from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Raymond James upped their price target on NETGEAR from $22.00 to $29.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th.

Insider Activity

In other news, CEO Charles J. Prober sold 10,929 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $26.64, for a total transaction of $291,148.56. Following the completion of the transaction, the chief executive officer now directly owns 507,763 shares in the company, valued at approximately $13,526,806.32. The trade was a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas H. Waechter sold 2,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $30.42, for a total transaction of $60,840.00. Following the completion of the transaction, the director now owns 61,135 shares of the company’s stock, valued at $1,859,726.70. This represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.00% 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.