Alliancebernstein L.P. Increases Stock Position in NETGEAR, Inc. (NASDAQ:NTGR)

Alliancebernstein L.P. increased its stake in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 318.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 135,430 shares of the communications equipment provider’s stock after purchasing an additional 103,051 shares during the period. Alliancebernstein L.P. owned approximately 0.47% of NETGEAR worth $3,774,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTGR. Arrowstreet Capital Limited Partnership raised its stake in NETGEAR by 126.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 675,209 shares of the communications equipment provider’s stock valued at $18,818,000 after buying an additional 376,974 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of NETGEAR by 31.6% in the fourth quarter. American Century Companies Inc. now owns 770,464 shares of the communications equipment provider’s stock worth $21,473,000 after acquiring an additional 184,863 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in NETGEAR during the fourth quarter valued at $4,449,000. Sei Investments Co. lifted its holdings in NETGEAR by 415.9% in the fourth quarter. Sei Investments Co. now owns 125,468 shares of the communications equipment provider’s stock valued at $3,497,000 after acquiring an additional 101,146 shares during the period. Finally, Teacher Retirement System of Texas purchased a new position in NETGEAR in the fourth quarter worth about $2,371,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Raymond James upped their price target on shares of NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. StockNews.com cut shares of NETGEAR from a “buy” rating to a “hold” rating in a report on Friday, March 21st.

Insider Activity at NETGEAR

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

NETGEAR Stock Performance

NASDAQ NTGR opened at $22.60 on Tuesday. NETGEAR, Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $31.55. The company has a market capitalization of $652.44 million, a PE ratio of 56.50 and a beta of 1.03. The business’s fifty day moving average is $24.90 and its 200 day moving average is $24.69.

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

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.