Portolan Capital Management LLC Purchases New Position in NETGEAR, Inc. (NASDAQ:NTGR)

Portolan Capital Management LLC bought a new position in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 192,214 shares of the communications equipment provider's stock, valued at approximately $5,357,000. Portolan Capital Management LLC owned about 0.67% of NETGEAR at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NTGR. American Century Companies Inc. increased its stake in shares of NETGEAR by 31.6% during the fourth quarter. American Century Companies Inc. now owns 770,464 shares of the communications equipment provider's stock worth $21,473,000 after acquiring an additional 184,863 shares during the period. Arrowstreet Capital Limited Partnership increased its position in NETGEAR by 126.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 675,209 shares of the communications equipment provider's stock worth $18,818,000 after purchasing an additional 376,974 shares during the period. Renaissance Technologies LLC raised its stake in shares of NETGEAR by 11.3% during the 4th quarter. Renaissance Technologies LLC now owns 325,055 shares of the communications equipment provider's stock worth $9,059,000 after buying an additional 33,100 shares in the last quarter. Barclays PLC boosted its stake in shares of NETGEAR by 343.1% in the fourth quarter. Barclays PLC now owns 192,226 shares of the communications equipment provider's stock valued at $5,357,000 after buying an additional 148,841 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in NETGEAR by 17.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 170,281 shares of the communications equipment provider's stock worth $4,746,000 after acquiring an additional 24,868 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

NETGEAR Price Performance

Shares of NASDAQ NTGR traded down $0.08 on Friday, hitting $22.11. The company's stock had a trading volume of 198,999 shares, compared to its average volume of 327,410. The stock has a 50 day moving average of $24.29 and a 200-day moving average of $24.68. NETGEAR, Inc. has a 12-month low of $10.48 and a 12-month high of $31.55. The company has a market capitalization of $638.29 million, a price-to-earnings ratio of 55.28 and a beta of 1.03.

NETGEAR (NASDAQ:NTGR - Get Free Report) last announced its earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) EPS for the quarter, meeting analysts' consensus estimates of ($0.24). NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. Sell-side analysts expect that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.

Insider Transactions at NETGEAR

In related news, CEO Charles J. Prober sold 10,929 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $26.64, for a total value of $291,148.56. Following the completion of the sale, the chief executive officer now directly owns 507,763 shares in the company, valued at approximately $13,526,806.32. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Murray Bryan sold 3,848 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $23.92, for a total transaction of $92,044.16. Following the transaction, the chief financial officer now directly owns 193,032 shares in the company, valued at approximately $4,617,325.44. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of NETGEAR from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Raymond James boosted their price target on NETGEAR from $22.00 to $29.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th.

NETGEAR 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.