Millennium Management LLC Decreases Holdings in NETGEAR, Inc. (NASDAQ:NTGR)

Millennium Management LLC trimmed its holdings in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 39.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,112 shares of the communications equipment provider's stock after selling 61,222 shares during the quarter. Millennium Management LLC owned 0.32% of NETGEAR worth $2,595,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NTGR. Hsbc Holdings PLC raised its holdings in shares of NETGEAR by 29.3% in the fourth quarter. Hsbc Holdings PLC now owns 73,209 shares of the communications equipment provider's stock valued at $2,012,000 after acquiring an additional 16,588 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of NETGEAR by 32.0% during the fourth quarter. Rhumbline Advisers now owns 69,841 shares of the communications equipment provider's stock valued at $1,946,000 after acquiring an additional 16,920 shares in the last quarter. Bailard Inc. acquired a new position in shares of NETGEAR during the fourth quarter valued at about $362,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of NETGEAR by 285.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 79,693 shares of the communications equipment provider's stock valued at $2,221,000 after acquiring an additional 59,005 shares in the last quarter. Finally, Amundi acquired a new position in shares of NETGEAR during the fourth quarter valued at about $653,000. 82.97% of the stock is currently owned by institutional investors.

NETGEAR Trading Up 0.4%

NETGEAR stock traded up $0.11 during mid-day trading on Wednesday, hitting $30.26. The company had a trading volume of 552,353 shares, compared to its average volume of 353,844. NETGEAR, Inc. has a 12-month low of $13.33 and a 12-month high of $31.55. The company's fifty day moving average is $25.95 and its 200-day moving average is $26.10. The company has a market capitalization of $870.94 million, a price-to-earnings ratio of 75.65 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. NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. The business had revenue of $162.06 million for the quarter, compared to analyst estimates of $152.24 million. During the same quarter in the prior year, the firm posted ($0.28) EPS. The business's quarterly revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts expect that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Raymond James upped their target price on NETGEAR from $22.00 to $29.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Wall Street Zen upgraded NETGEAR from a "hold" rating to a "buy" rating in a research report on Monday, May 5th.

Insiders Place Their Bets

In other NETGEAR news, Director Sarah Butterfass sold 5,848 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $28.89, for a total value of $168,948.72. Following the sale, the director now owns 41,657 shares in the company, valued at approximately $1,203,470.73. This represents a 12.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Murray Bryan sold 3,848 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $23.92, for a total value of $92,044.16. Following the completion of the sale, the chief financial officer now owns 193,032 shares in the company, valued at approximately $4,617,325.44. This represents a 1.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,367 shares of company stock worth $336,021. Corporate insiders own 2.30% of the company's stock.

NETGEAR 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.