Empowered Funds LLC Raises Stake in NETGEAR, Inc. (NASDAQ:NTGR)

Empowered Funds LLC lifted its position in NETGEAR, Inc. (NASDAQ:NTGR) by 23.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 141,976 shares of the communications equipment provider’s stock after purchasing an additional 26,756 shares during the period. Empowered Funds LLC owned about 0.50% of NETGEAR worth $2,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Values First Advisors Inc. purchased a new position in NETGEAR in the 3rd quarter worth approximately $144,000. State Board of Administration of Florida Retirement System purchased a new position in shares of NETGEAR in the first quarter worth $176,000. Creative Planning bought a new position in shares of NETGEAR during the third quarter worth $235,000. Versor Investments LP purchased a new stake in NETGEAR in the 3rd quarter worth $235,000. Finally, Inspire Advisors LLC bought a new position in shares of NETGEAR during the 3rd quarter valued at about $387,000. 82.97% of the stock is currently owned by institutional investors.

Insider Transactions at NETGEAR

In other NETGEAR news, Director Thomas H. Waechter sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $20.00, for a total transaction of $50,000.00. Following the sale, the director now directly owns 65,318 shares of the company’s stock, valued at $1,306,360. The trade was a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded NETGEAR from a “hold” rating to a “buy” rating in a research report on Friday, November 1st.

NETGEAR Stock Performance

NTGR stock opened at $24.17 on Wednesday. The firm has a fifty day moving average price of $21.15 and a 200 day moving average price of $16.93. NETGEAR, Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $25.06. The firm has a market cap of $695.37 million, a PE ratio of 37.18 and a beta of 0.83.

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.