Inspire Advisors LLC Invests $387,000 in NETGEAR, Inc. (NASDAQ:NTGR)

Inspire Advisors LLC purchased a new position in shares of NETGEAR, Inc. (NASDAQ:NTGR) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 19,317 shares of the communications equipment provider’s stock, valued at approximately $387,000. Inspire Advisors LLC owned approximately 0.07% of NETGEAR as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its holdings in shares of NETGEAR by 72.4% during the first quarter. Acadian Asset Management LLC now owns 622,936 shares of the communications equipment provider’s stock worth $9,820,000 after buying an additional 261,705 shares in the last quarter. Brandes Investment Partners LP raised its holdings in NETGEAR by 6.8% in the 2nd quarter. Brandes Investment Partners LP now owns 3,896,492 shares of the communications equipment provider’s stock valued at $59,246,000 after acquiring an additional 247,162 shares during the last quarter. American Century Companies Inc. lifted its stake in NETGEAR by 137.3% in the 2nd quarter. American Century Companies Inc. now owns 353,893 shares of the communications equipment provider’s stock worth $5,415,000 after purchasing an additional 204,734 shares in the last quarter. Vanguard Group Inc. lifted its stake in NETGEAR by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 2,513,785 shares of the communications equipment provider’s stock worth $39,642,000 after purchasing an additional 105,994 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of NETGEAR by 125.0% during the 2nd quarter. Federated Hermes Inc. now owns 127,892 shares of the communications equipment provider’s stock worth $1,957,000 after purchasing an additional 71,054 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com cut NETGEAR from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th.

NETGEAR Trading Down 1.5 %

NETGEAR stock opened at $21.52 on Friday. The company has a 50-day moving average price of $18.38 and a 200 day moving average price of $15.75. NETGEAR, Inc. has a 12-month low of $10.40 and a 12-month high of $22.62. The stock has a market cap of $626.23 million, a P/E ratio of -5.59 and a beta of 0.83.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, July 31st. The communications equipment provider reported ($0.94) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.94). The business had revenue of $143.90 million during the quarter, compared to the consensus estimate of $132.69 million. NETGEAR had a negative net margin of 21.62% and a negative return on equity of 7.52%. As a group, analysts forecast that NETGEAR, Inc. will post -2.11 EPS for the current year.

Insiders Place Their Bets

In other news, Director Thomas H. Waechter sold 2,500 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $20.00, for a total value of $50,000.00. Following the transaction, the director now owns 65,318 shares of the company’s stock, valued at $1,306,360. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.00% of the stock is owned by insiders.

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.