Engineers Gate Manager LP Sells 76,875 Shares of NETGEAR, Inc. $NTGR

Key Points

• Engineers Gate Manager LP reduced its NETGEAR stake by 84.2% in the second quarter, selling 76,875 shares and retaining 14,393 shares valued at approximately $336,000.
• Analyst sentiment remains mixed, with two Buy ratings, one Hold, and one Sell; the overall consensus is Hold with an average price target of $36.50.
• NETGEAR reported quarterly EPS of $0.16, beating estimates of $0.01, while revenue reached $168.56 million. However, revenue declined 1.2% year over year and analysts expect a full-year loss of $0.58 per share.

Engineers Gate Manager LP cut its holdings in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 84.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,393 shares of the communications equipment provider's stock after selling 76,875 shares during the period. Engineers Gate Manager LP owned 0.05% of NETGEAR worth $336,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in NTGR. Continuum Advisory LLC acquired a new stake in NETGEAR in the 2nd quarter valued at approximately $25,000. Integrated Wealth Concepts LLC acquired a new position in shares of NETGEAR during the second quarter worth approximately $31,000. IFP Advisors Inc boosted its position in shares of NETGEAR by 161.7% in the fourth quarter. IFP Advisors Inc now owns 2,243 shares of the communications equipment provider's stock valued at $55,000 after acquiring an additional 1,386 shares during the period. Persistent Asset Partners Ltd bought a new stake in shares of NETGEAR in the second quarter valued at approximately $58,000. Finally, Fifth Third Bancorp grew its stake in shares of NETGEAR by 6,085.7% in the first quarter. Fifth Third Bancorp now owns 3,031 shares of the communications equipment provider's stock worth $66,000 after acquiring an additional 2,982 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NTGR shares. Wall Street Zen raised shares of NETGEAR from a "sell" rating to a "hold" rating in a research report on Sunday, September 6th. Weiss Ratings restated a "sell (d)" rating on shares of NETGEAR in a research report on Monday. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $36.50.

Insider Transactions 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 sale, the insider directly owned 154,073 shares of the company's stock, valued at approximately $3,679,263.24. This trade represents a 1.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 3.10% of the company's stock.

NETGEAR Trading Down 0.2%

NTGR stock opened at $22.07 on Friday. NETGEAR, Inc. has a 1-year low of $19.00 and a 1-year high of $36.86. The firm has a market cap of $599.86 million, a P/E ratio of -23.73 and a beta of 1.17. The business's 50 day moving average is $22.62 and its 200-day moving average is $23.47.

NETGEAR (NASDAQ:NTGR - Get Free Report) last posted its earnings results on Thursday, August 6th. The communications equipment provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.01 by $0.15. NETGEAR had a negative return on equity of 2.79% and a negative net margin of 3.71%.The business had revenue of $168.56 million during the quarter, compared to the consensus estimate of $157.80 million. During the same quarter last year, the company earned $0.06 EPS. NETGEAR's revenue was down 1.2% on a year-over-year basis. Sell-side analysts forecast that NETGEAR, Inc. will post -0.58 EPS for the current year.

NETGEAR Profile

NETGEAR, Inc NASDAQ: NTGR develops and markets networking products and related services for consumers, businesses and service providers. Its portfolio includes wireless routers, mesh Wi-Fi systems, cable and cellular gateways, switches, wireless access points, network storage products and security cameras.

The company offers consumer-focused product lines such as Nighthawk and Orbi, as well as business networking solutions marketed under brands including NETGEAR Business and Insight.

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