GAMMA Investing LLC Acquires 11,608 Shares of NETGEAR, Inc. (NASDAQ:NTGR)

GAMMA Investing LLC raised its stake in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 3,539.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 11,936 shares of the communications equipment provider's stock after acquiring an additional 11,608 shares during the period. GAMMA Investing LLC's holdings in NETGEAR were worth $292,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Hsbc Holdings PLC lifted its position in NETGEAR by 29.3% during the fourth quarter. Hsbc Holdings PLC now owns 73,209 shares of the communications equipment provider's stock valued at $2,012,000 after purchasing an additional 16,588 shares during the period. Tenzing Global Management LLC raised its stake in NETGEAR by 64.3% during the 4th quarter. Tenzing Global Management LLC now owns 287,500 shares of the communications equipment provider's stock valued at $8,013,000 after buying an additional 112,500 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of NETGEAR by 32.0% during the 4th quarter. Rhumbline Advisers now owns 69,841 shares of the communications equipment provider's stock valued at $1,946,000 after buying an additional 16,920 shares during the period. Bailard Inc. purchased a new position in shares of NETGEAR in the 4th quarter worth $362,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of NETGEAR by 30.7% in the fourth quarter. Ameriprise Financial Inc. now owns 116,525 shares of the communications equipment provider's stock worth $3,248,000 after acquiring an additional 27,379 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded NETGEAR from a "hold" rating to a "buy" rating in a research report on Monday, May 5th.

NETGEAR Stock Performance

Shares of NASDAQ:NTGR remained flat at $28.49 during trading on Wednesday. 257,094 shares of the stock traded hands, compared to its average volume of 363,340. The firm has a market cap of $819.94 million, a price-to-earnings ratio of 34.74 and a beta of 1.14. The company has a 50 day simple moving average of $27.67 and a 200-day simple moving average of $26.49. NETGEAR, Inc. has a 52-week low of $13.96 and a 52-week high of $31.55.

NETGEAR (NASDAQ:NTGR - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The communications equipment provider reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.37. NETGEAR had a net margin of 3.72% and a negative return on equity of 7.63%. The business had revenue of $162.06 million for the quarter, compared to the consensus estimate of $152.24 million. During the same period last year, the firm earned ($0.28) earnings per share. The company's quarterly revenue was down 1.5% on a year-over-year basis. On average, equities research analysts forecast that NETGEAR, Inc. will post -1.84 EPS for the current year.

Insider Buying and Selling

In other NETGEAR news, CFO Murray Bryan sold 2,671 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $28.09, for a total transaction of $75,028.39. Following the sale, the chief financial officer now owns 178,945 shares in the company, valued at approximately $5,026,565.05. This trade represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Laura Durr sold 4,388 shares of NETGEAR stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $29.50, for a total transaction of $129,446.00. Following the transaction, the director now directly owns 49,446 shares in the company, valued at $1,458,657. This represents a 8.15% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,671 shares of company stock valued at $565,429. 2.30% of the stock is owned by company insiders.

NETGEAR Company Profile

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.