Rhumbline Advisers Cuts Holdings in NETGEAR, Inc. (NASDAQ:NTGR)

Rhumbline Advisers decreased its position in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 27.6% in the first quarter, according to its most recent Form 13F filing 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 quarter. Rhumbline Advisers owned 0.18% of NETGEAR worth $1,236,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NTGR. New York State Teachers Retirement System acquired a new position in NETGEAR in the fourth quarter valued at approximately $72,000. Summit Investment Advisors Inc. increased its position in shares of NETGEAR by 19.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider's stock valued at $81,000 after buying an additional 479 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of NETGEAR in the fourth quarter valued at approximately $92,000. AlphaQuest LLC purchased a new stake in shares of NETGEAR in the fourth quarter valued at approximately $185,000. Finally, New York State Common Retirement Fund increased its position in shares of 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 buying an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Buying and Selling

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

NETGEAR Stock Up 5.2%

Shares of NETGEAR stock traded up $1.37 on Monday, reaching $27.93. The company's stock had a trading volume of 496,340 shares, compared to its average volume of 361,512. The company has a market capitalization of $803.83 million, a P/E ratio of 34.06 and a beta of 1.14. NETGEAR, Inc. has a 52-week low of $13.96 and a 52-week high of $31.55. The stock has a 50-day moving average price of $27.44 and a 200-day moving average price of $26.45.

NETGEAR (NASDAQ:NTGR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The communications equipment provider reported $0.02 EPS for the quarter, beating analysts' consensus estimates of ($0.35) by $0.37. The business had revenue of $162.06 million during 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 business's revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.28) earnings per share. Sell-side analysts forecast that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.

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 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.