Teacher Retirement System of Texas Reduces Holdings in NETGEAR, Inc. (NASDAQ:NTGR)

Teacher Retirement System of Texas decreased its holdings in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 51.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,129 shares of the communications equipment provider's stock after selling 43,951 shares during the quarter. Teacher Retirement System of Texas owned about 0.14% of NETGEAR worth $1,006,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC purchased a new position in NETGEAR during the 4th quarter valued at about $394,000. Arizona State Retirement System purchased a new position in NETGEAR during the 4th quarter valued at about $220,000. Amundi purchased a new position in NETGEAR during the 4th quarter valued at about $653,000. AlphaQuest LLC purchased a new position in NETGEAR during the 4th quarter valued at about $185,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in NETGEAR by 17.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 170,281 shares of the communications equipment provider's stock valued at $4,746,000 after acquiring an additional 24,868 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

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.

Insiders Place Their Bets

In other NETGEAR news, Director Sarah Butterfass sold 5,848 shares of the firm's stock in a transaction dated 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 directly owned 41,657 shares of the company's stock, valued at approximately $1,203,470.73. This trade represents a 12.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Murray Bryan sold 2,671 shares of NETGEAR stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $28.09, for a total value of $75,028.39. Following the completion of the transaction, the chief financial officer directly owned 178,945 shares in the company, valued at $5,026,565.05. This represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,671 shares of company stock valued at $565,429 in the last quarter. Corporate insiders own 2.30% of the company's stock.

NETGEAR Stock Performance

NETGEAR stock traded down $0.31 during midday trading on Thursday, reaching $28.70. 329,932 shares of the company were exchanged, compared to its average volume of 374,746. The company has a market capitalization of $825.99 million, a price-to-earnings ratio of 35.00 and a beta of 1.13. The firm's 50-day simple moving average is $29.23 and its 200-day simple moving average is $26.78. NETGEAR, Inc. has a 1 year low of $13.96 and a 1 year high of $31.55.

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, topping analysts' consensus estimates of ($0.35) by $0.37. The firm 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 firm's quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.28) EPS. On average, analysts forecast that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.

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.