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

NETGEAR, Inc. (NASDAQ:NTGR - Get Free Report) VP Graeme Mclindin sold 2,377 shares of the company'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 value of $67,459.26. Following the completion of the sale, the vice president now owns 61,208 shares in the company, valued at approximately $1,737,083.04. This represents a 3.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

NETGEAR Trading Down 0.5%

NETGEAR stock traded down $0.14 during mid-day trading on Friday, hitting $26.56. 624,657 shares of the company's stock were exchanged, compared to its average volume of 362,313. NETGEAR, Inc. has a 1-year low of $13.96 and a 1-year high of $31.55. The stock has a market cap of $764.40 million, a P/E ratio of 32.39 and a beta of 1.14. The stock has a 50 day moving average of $27.36 and a two-hundred day moving average of $26.43.

NETGEAR (NASDAQ:NTGR - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The communications equipment provider reported $0.02 EPS for the quarter, beating 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 business had revenue of $162.06 million for the quarter, compared to analysts' expectations of $152.24 million. NETGEAR's revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.28) earnings per share. As a group, research analysts predict that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.

Hedge Funds Weigh In On NETGEAR

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in NETGEAR by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 2,515,636 shares of the communications equipment provider's stock worth $61,532,000 after acquiring an additional 23,488 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of NETGEAR by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,332,316 shares of the communications equipment provider's stock valued at $37,132,000 after buying an additional 44,752 shares in the last quarter. Acadian Asset Management LLC boosted its stake in NETGEAR by 16.5% during the first quarter. Acadian Asset Management LLC now owns 1,075,982 shares of the communications equipment provider's stock valued at $26,303,000 after buying an additional 152,183 shares during the period. American Century Companies Inc. raised its stake in shares of NETGEAR by 13.5% during the first quarter. American Century Companies Inc. now owns 874,339 shares of the communications equipment provider's stock worth $21,386,000 after acquiring an additional 103,875 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of NETGEAR by 126.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 675,209 shares of the communications equipment provider's stock valued at $18,818,000 after acquiring an additional 376,974 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.