NETGEAR, Inc. (NASDAQ:NTGR) VP Graeme Mclindin Sells 2,377 Shares

NETGEAR, Inc. (NASDAQ:NTGR - Get Free Report) VP Graeme Mclindin sold 2,377 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $28.38, for a total transaction of $67,459.26. Following the completion of the sale, the vice president now owns 61,208 shares of the company's stock, valued at approximately $1,737,083.04. The trade was a 3.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

NETGEAR Stock Performance

Shares of NASDAQ NTGR traded down $0.13 during mid-day trading on Tuesday, hitting $27.22. The stock had a trading volume of 431,793 shares, compared to its average volume of 360,156. NETGEAR, Inc. has a 1 year low of $13.96 and a 1 year high of $31.55. The business has a 50 day moving average price of $27.11 and a two-hundred day moving average price of $26.40. The firm has a market cap of $783.39 million, a P/E ratio of 33.20 and a beta of 1.14.

NETGEAR (NASDAQ:NTGR - Get Free Report) last issued its earnings results on Wednesday, April 30th. The communications equipment provider reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.35) by $0.37. NETGEAR had a net margin of 3.72% and a negative return on equity of 7.63%. The company had revenue of $162.06 million for the quarter, compared to the consensus estimate of $152.24 million. During the same period in the previous year, the firm earned ($0.28) earnings per share. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. Equities research analysts predict that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NTGR. Summit Investment Advisors Inc. increased its position in NETGEAR by 19.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider's stock valued at $81,000 after purchasing an additional 479 shares during the period. Headlands Technologies LLC increased its position in NETGEAR by 19.6% during the 1st quarter. Headlands Technologies LLC now owns 3,010 shares of the communications equipment provider's stock valued at $74,000 after purchasing an additional 494 shares during the period. CWM LLC increased its position in NETGEAR by 35.4% during the 1st quarter. CWM LLC now owns 2,916 shares of the communications equipment provider's stock valued at $71,000 after purchasing an additional 763 shares during the period. SG Americas Securities LLC increased its position in NETGEAR by 5.8% during the 1st quarter. SG Americas Securities LLC now owns 14,241 shares of the communications equipment provider's stock valued at $348,000 after purchasing an additional 780 shares during the period. Finally, Legal & General Group Plc increased its position in NETGEAR by 2.6% during the 4th quarter. Legal & General Group Plc now owns 32,902 shares of the communications equipment provider's stock valued at $917,000 after purchasing an additional 846 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.

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