Donald Smith & CO. Inc. Lowers Stock Position in NETGEAR, Inc. (NASDAQ:NTGR)

Donald Smith & CO. Inc. trimmed its position in NETGEAR, Inc. (NASDAQ:NTGR) by 99.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,070 shares of the communications equipment provider’s stock after selling 305,739 shares during the period. Donald Smith & CO. Inc.’s holdings in NETGEAR were worth $30,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Quarry LP boosted its stake in shares of NETGEAR by 66.5% in the 3rd quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock worth $37,000 after buying an additional 741 shares during the last quarter. Franklin Resources Inc. grew its stake in NETGEAR by 5.3% in the 3rd quarter. Franklin Resources Inc. now owns 42,673 shares of the communications equipment provider’s stock valued at $883,000 after purchasing an additional 2,166 shares during the period. New York State Common Retirement Fund increased its position in shares of NETGEAR by 49.3% during the 4th quarter. New York State Common Retirement Fund now owns 7,566 shares of the communications equipment provider’s stock valued at $211,000 after purchasing an additional 2,500 shares during the last quarter. New York State Teachers Retirement System bought a new stake in shares of NETGEAR during the 4th quarter worth $72,000. Finally, R Squared Ltd purchased a new position in shares of NETGEAR in the 4th quarter worth about $72,000. 82.97% of the stock is owned by institutional investors.

Insider Activity

In other NETGEAR news, CFO Murray Bryan sold 3,848 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 193,032 shares of the company’s stock, valued at $4,617,325.44. This trade represents a 1.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 $13,526,806.32. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on NTGR shares. Raymond James increased their target price 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 NETGEAR from a “buy” rating to a “hold” rating in a research report on Friday, March 21st.

NETGEAR Trading Down 0.1 %

NTGR opened at $24.90 on Thursday. NETGEAR, Inc. has a 12 month low of $10.48 and a 12 month high of $31.55. The company has a market cap of $718.84 million, a PE ratio of 62.25 and a beta of 0.72. The company has a 50 day moving average of $26.08 and a 200 day moving average of $24.61.

NETGEAR (NASDAQ:NTGR) last announced 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 negative return on equity of 9.24% and a net margin of 1.83%. Research analysts forecast that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.

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.