Bank of New York Mellon Corp Decreases Stock Holdings in NETGEAR, Inc. (NASDAQ:NTGR)

Bank of New York Mellon Corp reduced its position in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 1.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 99,681 shares of the communications equipment provider’s stock after selling 1,739 shares during the quarter. Bank of New York Mellon Corp’s holdings in NETGEAR were worth $2,778,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Tenzing Global Management LLC purchased a new stake in NETGEAR in the third quarter worth $3,510,000. Empowered Funds LLC lifted its holdings in NETGEAR by 5.1% in the fourth quarter. Empowered Funds LLC now owns 149,219 shares of the communications equipment provider’s stock worth $4,159,000 after buying an additional 7,243 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of NETGEAR by 124.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,413 shares of the communications equipment provider’s stock worth $2,917,000 after acquiring an additional 80,746 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of NETGEAR by 285.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 79,693 shares of the communications equipment provider’s stock worth $2,221,000 after acquiring an additional 59,005 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of NETGEAR by 32.0% in the 4th quarter. Rhumbline Advisers now owns 69,841 shares of the communications equipment provider’s stock worth $1,946,000 after buying an additional 16,920 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Raymond James upped their price objective on shares of NETGEAR from $22.00 to $29.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. StockNews.com cut shares of NETGEAR from a “buy” rating to a “hold” rating in a report on Friday.

Insider Buying and Selling

In other NETGEAR news, CEO Charles J. Prober sold 10,929 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $26.64, for a total value of $291,148.56. Following the completion of the sale, the chief executive officer now owns 507,763 shares in the company, valued at approximately $13,526,806.32. This represents a 2.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Murray Bryan sold 3,848 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $23.92, for a total value of $92,044.16. Following the completion of the transaction, the chief financial officer now directly owns 193,032 shares of the company’s stock, valued at approximately $4,617,325.44. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by insiders.

NETGEAR Trading Down 2.4 %

NETGEAR stock opened at $24.19 on Friday. NETGEAR, Inc. has a 12 month low of $10.48 and a 12 month high of $31.55. The stock has a fifty day simple moving average of $26.49 and a two-hundred day simple moving average of $24.09. The firm has a market cap of $698.34 million, a price-to-earnings ratio of 60.48 and a beta of 0.72.

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

NETGEAR 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.