Anchor Capital Advisors LLC Invests $2.13 Million in NETGEAR, Inc. $NTGR

Key Points

• Anchor Capital Advisors opened a new position in NETGEAR during the fourth quarter, buying 86,870 shares valued at about $2.13 million. The stake represented roughly 0.31% of the company.
• Insider selling continued, with executive Pramod Badjate and director Shravan Goli both selling shares under pre-arranged 10b5-1 plans. Over the last three months, insiders sold 12,085 shares worth about $318,703.
• NETGEAR’s latest quarterly results beat expectations, with EPS of $0.06 versus an expected loss and revenue of $158.82 million above estimates. Analysts currently rate the stock a consensus Hold with an average target price of $36.

Anchor Capital Advisors LLC bought a new position in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 86,870 shares of the communications equipment provider's stock, valued at approximately $2,131,000. Anchor Capital Advisors LLC owned about 0.31% of NETGEAR at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Comerica Bank increased its position in NETGEAR by 64.8% during the third quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider's stock valued at $35,000 after acquiring an additional 429 shares during the last quarter. IFP Advisors Inc increased its position in shares of NETGEAR by 161.7% during the 4th quarter. IFP Advisors Inc now owns 2,243 shares of the communications equipment provider's stock valued at $55,000 after purchasing an additional 1,386 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of NETGEAR by 44.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,323 shares of the communications equipment provider's stock worth $75,000 after purchasing an additional 718 shares during the period. FNY Investment Advisers LLC lifted its stake in shares of NETGEAR by 50.0% in the 3rd quarter. FNY Investment Advisers LLC now owns 3,000 shares of the communications equipment provider's stock worth $97,000 after purchasing an additional 1,000 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of NETGEAR by 35.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the communications equipment provider's stock worth $101,000 after buying an additional 904 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Insider Activity

In other news, insider Pramod Badjate sold 3,000 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $25.47, for a total value of $76,410.00. Following the sale, the insider owned 165,513 shares of the company's stock, valued at approximately $4,215,616.11. This represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Shravan Goli sold 3,381 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $26.89, for a total transaction of $90,915.09. Following the completion of the sale, the director directly owned 25,857 shares of the company's stock, valued at approximately $695,294.73. The trade was a 11.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 12,085 shares of company stock worth $318,703. 3.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NTGR. Wall Street Zen raised shares of NETGEAR from a "sell" rating to a "hold" rating in a research report on Saturday, March 28th. Zacks Research upgraded NETGEAR from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 10th. Weiss Ratings reissued a "sell (d)" rating on shares of NETGEAR in a report on Friday, March 27th. Finally, Stifel Nicolaus set a $36.00 price objective on NETGEAR in a research note on Thursday, February 5th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $36.00.

NETGEAR Stock Performance

NTGR stock opened at $26.19 on Thursday. The firm has a fifty day moving average price of $24.95 and a 200 day moving average price of $23.63. NETGEAR, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $36.86. The firm has a market cap of $702.94 million, a PE ratio of -29.76 and a beta of 1.17.

NETGEAR (NASDAQ:NTGR - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.14. The company had revenue of $158.82 million for the quarter, compared to the consensus estimate of $152.49 million. NETGEAR had a negative net margin of 3.58% and a negative return on equity of 2.71%. NETGEAR's revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.02 earnings per share. On average, equities analysts predict that NETGEAR, Inc. will post -0.5 EPS for the current year.

NETGEAR Profile

NETGEAR, Inc NASDAQ: NTGR is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.

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