Bridgeway Capital Management LLC Has $11.32 Million Position in NETGEAR, Inc. (NASDAQ:NTGR)

Bridgeway Capital Management LLC boosted its position in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 47.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 406,119 shares of the communications equipment provider's stock after purchasing an additional 131,243 shares during the period. Bridgeway Capital Management LLC owned approximately 1.41% of NETGEAR worth $11,319,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System bought a new stake in shares of NETGEAR during the 4th quarter worth $72,000. R Squared Ltd acquired a new position in shares of NETGEAR in the 4th quarter valued at $72,000. Summit Investment Advisors Inc. increased its stake in NETGEAR by 19.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider's stock worth $81,000 after purchasing an additional 479 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in NETGEAR in the 4th quarter worth about $92,000. Finally, AlphaQuest LLC acquired a new stake in NETGEAR during the 4th quarter worth about $185,000. 82.97% of the stock is owned by institutional investors.

Insider Activity at NETGEAR

In other NETGEAR news, CEO Charles J. Prober sold 10,929 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 507,763 shares of the company's stock, valued at $13,526,806.32. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Murray Bryan sold 3,848 shares of the business's stock in a transaction dated Friday, March 14th. The stock was 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 of the company's stock, valued at $4,617,325.44. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,448 shares of company stock valued at $458,221. 7.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NTGR shares. StockNews.com upgraded shares of NETGEAR from a "hold" rating to a "buy" rating in a report on Monday. Raymond James lifted their price target on NETGEAR from $22.00 to $29.00 and gave the company an "outperform" rating in a report on Thursday, February 6th.

NETGEAR Stock Performance

Shares of NASDAQ NTGR traded up $0.14 during mid-day trading on Friday, reaching $29.05. The company had a trading volume of 410,016 shares, compared to its average volume of 338,980. The stock has a fifty day moving average of $23.89 and a two-hundred day moving average of $25.19. NETGEAR, Inc. has a 12-month low of $11.77 and a 12-month high of $31.55. The company has a market capitalization of $836.12 million, a price-to-earnings ratio of 72.63 and a beta of 1.09.

NETGEAR (NASDAQ:NTGR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The communications equipment provider reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.35) by $0.37. The business had revenue of $162.06 million for the quarter, compared to analysts' expectations of $152.24 million. NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. NETGEAR's revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.28) EPS. Sell-side analysts forecast that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal 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.