NETGEAR, Inc. (NASDAQ:NTGR) Stock Position Lowered by California State Teachers Retirement System

California State Teachers Retirement System decreased its position in NETGEAR, Inc. (NASDAQ:NTGR) by 2.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 25,515 shares of the communications equipment provider’s stock after selling 637 shares during the period. California State Teachers Retirement System’s holdings in NETGEAR were worth $711,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NTGR. Summit Investment Advisors Inc. lifted its holdings in shares of NETGEAR by 19.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider’s stock valued at $81,000 after purchasing an additional 479 shares in the last quarter. Legal & General Group Plc raised its position in NETGEAR by 2.6% during the fourth quarter. Legal & General Group Plc now owns 32,902 shares of the communications equipment provider’s stock valued at $917,000 after buying an additional 846 shares during the period. New York State Common Retirement Fund lifted its stake in NETGEAR by 49.3% in the 4th quarter. New York State Common Retirement Fund now owns 7,566 shares of the communications equipment provider’s stock worth $211,000 after acquiring an additional 2,500 shares in the last quarter. New York State Teachers Retirement System purchased a new stake in NETGEAR in the 4th quarter worth about $72,000. Finally, LPL Financial LLC boosted its position in NETGEAR by 26.3% during the 4th quarter. LPL Financial LLC now owns 14,740 shares of the communications equipment provider’s stock worth $411,000 after acquiring an additional 3,070 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of NETGEAR from a “hold” rating to a “buy” rating in a research report on Monday, May 5th.

NETGEAR Stock Down 2.1%

NETGEAR stock opened at $29.83 on Thursday. NETGEAR, Inc. has a 12 month low of $13.96 and a 12 month high of $31.55. The stock has a market cap of $858.57 million, a P/E ratio of 74.58 and a beta of 1.14. The company’s fifty day simple moving average is $26.65 and its 200-day simple moving average is $26.30.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, April 30th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.37. NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. The firm had revenue of $162.06 million during the quarter, compared to analysts’ expectations of $152.24 million. During the same quarter last year, the firm earned ($0.28) earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities research analysts expect that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.

Insider Transactions at NETGEAR

In other NETGEAR news, CFO Murray Bryan sold 3,848 shares of NETGEAR stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $23.92, for a total value of $92,044.16. Following the completion of the sale, the chief financial officer now directly owns 193,032 shares in the company, valued at $4,617,325.44. The trade was a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sarah Butterfass sold 5,848 shares of the business’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $28.89, for a total transaction of $168,948.72. Following the completion of the sale, the director now directly owns 41,657 shares of the company’s stock, valued at $1,203,470.73. This represents a 12.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,367 shares of company stock valued at $336,021 in the last three months. Corporate insiders own 2.30% of the company’s stock.

About NETGEAR

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.