Graham Capital Management L.P. Acquires Shares of 20,241 NETGEAR, Inc. (NASDAQ:NTGR)

Graham Capital Management L.P. acquired a new stake in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 20,241 shares of the communications equipment provider's stock, valued at approximately $564,000. Graham Capital Management L.P. owned about 0.07% of NETGEAR at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in NETGEAR by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,332,316 shares of the communications equipment provider's stock worth $37,132,000 after purchasing an additional 44,752 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of NETGEAR by 31.6% in the 4th quarter. American Century Companies Inc. now owns 770,464 shares of the communications equipment provider's stock valued at $21,473,000 after buying an additional 184,863 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of NETGEAR by 126.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 675,209 shares of the communications equipment provider's stock valued at $18,818,000 after buying an additional 376,974 shares during the last quarter. Bridgeway Capital Management LLC raised its stake in NETGEAR by 47.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 406,119 shares of the communications equipment provider's stock worth $11,319,000 after acquiring an additional 131,243 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in NETGEAR by 11.3% in the fourth quarter. Renaissance Technologies LLC now owns 325,055 shares of the communications equipment provider's stock worth $9,059,000 after acquiring an additional 33,100 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NTGR shares. Raymond James increased their price target on NETGEAR from $22.00 to $29.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. StockNews.com upgraded shares of NETGEAR from a "hold" rating to a "buy" rating in a research report on Monday, May 5th.

NETGEAR Stock Performance

Shares of NTGR traded down $0.38 during mid-day trading on Wednesday, reaching $30.30. 38,793 shares of the company's stock traded hands, compared to its average volume of 344,402. The business's 50-day moving average price is $24.78 and its 200-day moving average price is $25.67. The stock has a market capitalization of $872.18 million, a P/E ratio of 75.50 and a beta of 1.09. NETGEAR, Inc. has a 12 month low of $12.39 and a 12 month high of $31.55.

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 (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 company had revenue of $162.06 million during the quarter, compared to analysts' expectations of $152.24 million. During the same quarter in the prior year, the business posted ($0.28) earnings per share. The company's revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts anticipate that NETGEAR, Inc. will post -1.84 EPS for the current year.

Insider Transactions at NETGEAR

In related news, CFO Murray Bryan sold 2,671 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $28.09, for a total value of $75,028.39. Following the transaction, the chief financial officer now owns 178,945 shares in the company, valued at approximately $5,026,565.05. This represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Charles J. Prober sold 10,929 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $26.64, for a total transaction of $291,148.56. Following the transaction, the chief executive officer now owns 507,763 shares in the company, valued at $13,526,806.32. This represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,448 shares of company stock valued at $458,221 in the last three months. 7.00% of the stock is currently owned by corporate insiders.

About NETGEAR

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.