NETGEAR, Inc. $NTGR Stock Holdings Decreased by CenterBook Partners LP

Key Points

• CenterBook Partners cut its NETGEAR stake by 52.4% in the third quarter, selling 61,720 shares and retaining 55,966 shares worth about $1.24 million.
• NETGEAR reported quarterly EPS of $0.13, beating the $0.05-per-share loss analysts expected, while revenue of $167.35 million missed forecasts and fell 9.3% year over year.
• Analyst views are mixed, with one Buy, one Hold, and one Sell rating; MarketBeat’s consensus rating is Hold, with a $30 price target.

CenterBook Partners LP lowered its stake in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 52.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,966 shares of the communications equipment provider's stock after selling 61,720 shares during the quarter. CenterBook Partners LP owned about 0.21% of NETGEAR worth $1,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NTGR. Northwestern Mutual Wealth Management Co. raised its holdings in NETGEAR by 8.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,699 shares of the communications equipment provider's stock worth $180,000 after purchasing an additional 581 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of NETGEAR by 6.4% in the 1st quarter. Cetera Investment Advisers now owns 11,996 shares of the communications equipment provider's stock valued at $262,000 after buying an additional 725 shares in the last quarter. Continuum Advisory LLC bought a new stake in shares of NETGEAR in the 2nd quarter valued at about $25,000. State of Alaska Department of Revenue bought a new stake in shares of NETGEAR in the 3rd quarter valued at about $27,000. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of NETGEAR in the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

NETGEAR Trading Up 6.6%

NETGEAR stock opened at $20.12 on Tuesday. The business's 50-day simple moving average is $22.14 and its two-hundred day simple moving average is $22.91. NETGEAR, Inc. has a fifty-two week low of $18.63 and a fifty-two week high of $30.46.

NETGEAR (NASDAQ:NTGR - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.18. NETGEAR had a negative return on equity of 3.33% and a negative net margin of 4.91%. The firm had revenue of $167.35 million during the quarter, compared to analysts' expectations of $170.00 million. During the same period last year, the business posted $0.12 earnings per share. The company's revenue for the quarter was down 9.3% compared to the same quarter last year. As a group, analysts expect that NETGEAR, Inc. will post -0.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on NTGR. Stifel Nicolaus reduced their price objective on shares of NETGEAR from $36.00 to $30.00 and set a "buy" rating for the company in a research note on Monday, October 5th. Wall Street Zen upgraded shares of NETGEAR from a "sell" rating to a "hold" rating in a research note on Sunday, September 6th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of NETGEAR in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, NETGEAR presently has a consensus rating of "Hold" and a consensus target price of $30.00.

NETGEAR Company Profile

NETGEAR, Inc develops and sells networking products and connected technology for consumers, small and medium-sized businesses, and service providers. Its portfolio includes wireless routers, mesh Wi-Fi systems, cable and 5G modems, Wi-Fi extenders, network switches, wireless access points, and related connectivity products.

The company markets consumer products under brands such as Nighthawk and Orbi, while its business-oriented offerings include managed networking, switching, wireless access points, and cloud-based network management through the NETGEAR Insight platform.

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