8,000 Shares in NETGEAR, Inc. (NASDAQ:NTGR) Bought by NJ State Employees Deferred Compensation Plan

NJ State Employees Deferred Compensation Plan purchased a new position in NETGEAR, Inc. (NASDAQ:NTGR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,000 shares of the communications equipment provider’s stock, valued at approximately $223,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP lifted its stake in NETGEAR by 66.5% in the third quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock worth $37,000 after acquiring an additional 741 shares during the period. New York State Teachers Retirement System purchased a new stake in NETGEAR in the fourth quarter worth $72,000. R Squared Ltd purchased a new stake in NETGEAR in the fourth quarter worth $72,000. Meeder Asset Management Inc. purchased a new stake in NETGEAR in the third quarter worth $91,000. Finally, New York State Common Retirement Fund lifted its stake in NETGEAR by 49.3% in the fourth 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 during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, CEO Charles J. Prober sold 10,929 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $26.64, for a total transaction of $291,148.56. Following the completion of the transaction, the chief executive officer now directly owns 507,763 shares in the company, valued at $13,526,806.32. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas H. Waechter sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $30.42, for a total value of $60,840.00. Following the transaction, the director now owns 61,135 shares of the company’s stock, valued at $1,859,726.70. The trade was a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NTGR. StockNews.com downgraded NETGEAR from a “buy” rating to a “hold” rating in a report on Monday. Raymond James increased their price objective on NETGEAR from $22.00 to $29.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th.

NETGEAR Trading Down 5.4 %

NTGR opened at $24.87 on Tuesday. The stock has a fifty day simple moving average of $27.49 and a two-hundred day simple moving average of $23.48. The company has a market cap of $717.97 million, a price-to-earnings ratio of 62.18 and a beta of 0.83. NETGEAR, Inc. has a 12-month low of $10.48 and a 12-month high of $31.55.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.24). NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. On average, analysts predict 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.