Empowered Funds LLC Acquires Shares of 155,742 NETGEAR, Inc. $NTGR

Key Points

• Empowered Funds LLC acquired 155,742 NETGEAR shares worth approximately $3.64 million, representing about 0.57% of the company. Institutional investors collectively own 82.97% of NETGEAR.
• NETGEAR reported quarterly EPS of $0.16, beating the $0.01 consensus estimate, while revenue of $168.56 million exceeded expectations but declined 1.2% year over year. The company remains unprofitable, with a negative net margin of 3.71%.
• Shares opened at $20.87, near the lower end of their 12-month range of $19.00 to $36.86. Analysts hold a consensus “Hold” rating with an average price target of $36.50, although recent coverage included downgrades to “Sell.”

Empowered Funds LLC bought a new stake in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 155,742 shares of the communications equipment provider's stock, valued at approximately $3,637,000. Empowered Funds LLC owned about 0.57% of NETGEAR at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NTGR. Johnson Financial Group Inc. bought a new position in NETGEAR during the fourth quarter valued at about $25,000. Comerica Bank increased its holdings in NETGEAR by 64.8% during the third quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider's stock worth $35,000 after buying an additional 429 shares during the last quarter. IFP Advisors Inc raised its position in NETGEAR by 161.7% in the fourth quarter. IFP Advisors Inc now owns 2,243 shares of the communications equipment provider's stock worth $55,000 after acquiring an additional 1,386 shares during the period. Persistent Asset Partners Ltd bought a new stake in NETGEAR in the second quarter worth about $58,000. Finally, Fifth Third Bancorp boosted its stake in NETGEAR by 6,085.7% in the first quarter. Fifth Third Bancorp now owns 3,031 shares of the communications equipment provider's stock valued at $66,000 after acquiring an additional 2,982 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Activity at NETGEAR

In other news, insider Pramod Badjate sold 3,000 shares of NETGEAR stock in a transaction on Friday, July 31st. The stock was sold at an average price of $23.88, for a total value of $71,640.00. Following the completion of the transaction, the insider directly owned 154,073 shares in the company, valued at approximately $3,679,263.24. The trade was a 1.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.10% of the stock is owned by insiders.

NETGEAR Trading Down 1.4%

Shares of NTGR stock opened at $20.87 on Wednesday. The stock has a market capitalization of $567.25 million, a P/E ratio of -22.44 and a beta of 1.18. The firm's 50 day moving average is $22.91 and its 200 day moving average is $23.38. NETGEAR, Inc. has a 12 month low of $19.00 and a 12 month high of $36.86.

NETGEAR (NASDAQ:NTGR - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The communications equipment provider reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.15. NETGEAR had a negative net margin of 3.71% and a negative return on equity of 2.79%. The business had revenue of $168.56 million during the quarter, compared to analyst estimates of $157.80 million. During the same period in the previous year, the business earned $0.06 EPS. NETGEAR's revenue was down 1.2% compared to the same quarter last year. On average, equities analysts predict that NETGEAR, Inc. will post -0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

NTGR has been the subject of a number of research reports. Weiss Ratings reissued a "sell (d)" rating on shares of NETGEAR in a research report on Wednesday, June 24th. Wall Street Zen cut shares of NETGEAR from a "hold" rating to a "sell" rating in a report on Saturday. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $36.50.

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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