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

GAMMA Investing LLC grew its holdings in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 3,539.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,936 shares of the communications equipment provider's stock after purchasing an additional 11,608 shares during the quarter. GAMMA Investing LLC's holdings in NETGEAR were worth $292,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Summit Investment Advisors Inc. raised its holdings in shares of NETGEAR by 19.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider's stock valued at $81,000 after acquiring an additional 479 shares in the last quarter. Legal & General Group Plc increased its position in shares of NETGEAR by 2.6% in the fourth quarter. Legal & General Group Plc now owns 32,902 shares of the communications equipment provider's stock worth $917,000 after purchasing an additional 846 shares during the last quarter. New York State Common Retirement Fund raised its stake in NETGEAR by 49.3% in the fourth quarter. New York State Common Retirement Fund now owns 7,566 shares of the communications equipment provider's stock valued at $211,000 after purchasing an additional 2,500 shares in the last quarter. New York State Teachers Retirement System bought a new stake in NETGEAR during the fourth quarter valued at approximately $72,000. Finally, LPL Financial LLC grew its stake in NETGEAR by 26.3% in the 4th quarter. LPL Financial LLC now owns 14,740 shares of the communications equipment provider's stock worth $411,000 after buying an additional 3,070 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

NETGEAR Stock Performance

NTGR stock opened at $26.56 on Friday. NETGEAR, Inc. has a 52 week low of $13.96 and a 52 week high of $31.55. The firm's fifty day moving average is $27.44 and its 200 day moving average is $26.44. The firm has a market cap of $764.40 million, a P/E ratio of 32.39 and a beta of 1.14.

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

Insider Buying and Selling at NETGEAR

In related news, VP Graeme Mclindin sold 2,377 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $28.38, for a total transaction of $67,459.26. Following the completion of the sale, the vice president now directly owns 61,208 shares in the company, valued at $1,737,083.04. This represents a 3.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Murray Bryan sold 2,671 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $28.09, for a total transaction of $75,028.39. Following the completion of the transaction, the chief financial officer now owns 178,945 shares in the company, valued at $5,026,565.05. The trade was a 1.47% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,671 shares of company stock worth $565,429. 2.30% of the stock is currently owned by 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.

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