NETGEAR, Inc. (NASDAQ:NTGR) Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its position in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 27.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,538 shares of the communications equipment provider's stock after selling 19,303 shares during the period. Rhumbline Advisers owned 0.18% of NETGEAR worth $1,236,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. New York State Teachers Retirement System purchased a new position in shares of NETGEAR during the 4th quarter worth approximately $72,000. Summit Investment Advisors Inc. grew its holdings in NETGEAR by 19.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider's stock worth $81,000 after acquiring an additional 479 shares during the period. Picton Mahoney Asset Management purchased a new position in NETGEAR in the fourth quarter worth $92,000. AlphaQuest LLC purchased a new position in NETGEAR in the fourth quarter worth $185,000. Finally, New York State Common Retirement Fund lifted its holdings 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 acquiring an additional 2,500 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Transactions at NETGEAR

In related news, Director Laura Durr sold 4,387 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $28.39, for a total value of $124,546.93. Following the sale, the director now owns 45,059 shares of the company's stock, valued at approximately $1,279,225.01. This represents a 8.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Graeme Mclindin sold 2,377 shares of the business's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $28.38, for a total value of $67,459.26. Following the completion of the transaction, the vice president now directly owns 61,208 shares of the company's stock, valued at approximately $1,737,083.04. This trade represents a 3.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,671 shares of company stock valued at $565,429 in the last 90 days. 2.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of NETGEAR from a "hold" rating to a "buy" rating in a research note on Monday, May 5th.

NETGEAR Trading Down 1.9%

Shares of NETGEAR stock opened at $26.70 on Friday. The company has a 50-day moving average of $27.36 and a two-hundred day moving average of $26.43. NETGEAR, Inc. has a 12-month low of $13.96 and a 12-month high of $31.55. The stock has a market cap of $768.43 million, a PE ratio of 32.56 and a beta of 1.14.

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 analysts' consensus estimates of ($0.35) by $0.37. The business had revenue of $162.06 million for the quarter, compared to analysts' expectations of $152.24 million. NETGEAR had a negative return on equity of 7.63% and a net margin of 3.72%. The company's revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.28) EPS. On average, sell-side analysts forecast that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.

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.

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