Cornerstone Investment Partners LLC Buys Shares of 8,485 NETGEAR, Inc. (NASDAQ:NTGR)

Cornerstone Investment Partners LLC bought a new stake in NETGEAR, Inc. (NASDAQ:NTGR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 8,485 shares of the communications equipment provider’s stock, valued at approximately $236,000.

Several other hedge funds and other institutional investors also recently modified their holdings of NTGR. NJ State Employees Deferred Compensation Plan purchased a new stake in shares of NETGEAR in the fourth quarter valued at approximately $223,000. Bailard Inc. purchased a new stake in shares of NETGEAR in the fourth quarter valued at approximately $362,000. Proficio Capital Partners LLC purchased a new stake in shares of NETGEAR in the fourth quarter valued at approximately $394,000. Ieq Capital LLC boosted its stake in shares of NETGEAR by 73.8% in the fourth quarter. Ieq Capital LLC now owns 29,443 shares of the communications equipment provider’s stock valued at $821,000 after buying an additional 12,506 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of NETGEAR by 49.3% in the fourth quarter. New York State Common Retirement Fund now owns 7,566 shares of the communications equipment provider’s stock valued at $211,000 after buying an additional 2,500 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NETGEAR news, Director Thomas H. Waechter sold 2,000 shares of NETGEAR stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $30.42, for a total value of $60,840.00. Following the transaction, the director now owns 61,135 shares in the company, valued at $1,859,726.70. This trade represents a 3.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles J. Prober sold 10,929 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $26.64, for a total value of $291,148.56. Following the sale, the chief executive officer now owns 507,763 shares of the company’s stock, valued at approximately $13,526,806.32. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.00% of the stock is owned by corporate insiders.

NETGEAR Stock Down 5.4 %

Shares of NTGR stock opened at $24.87 on Tuesday. NETGEAR, Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $31.55. The stock has a market cap of $717.97 million, a P/E ratio of 62.18 and a beta of 0.83. The business has a fifty day simple moving average of $27.49 and a 200-day simple moving average of $23.48.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings data 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%. On average, sell-side analysts anticipate that NETGEAR, Inc. will post -1.84 earnings per share for the current year.

Analyst Ratings Changes

NTGR has been the topic of a number of analyst reports. StockNews.com downgraded NETGEAR from a “buy” rating to a “hold” rating in a research note on Monday. Raymond James lifted their price objective on NETGEAR from $22.00 to $29.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th.

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.