Stevens Capital Management LP trimmed its position in NETGEAR, Inc. (NASDAQ:NTGR) by 78.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,068 shares of the communications equipment provider’s stock after selling 18,230 shares during the period. Stevens Capital Management LP’s holdings in NETGEAR were worth $218,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. grew its position in NETGEAR by 17.1% during the first quarter. Envestnet Asset Management Inc. now owns 2,080 shares of the communications equipment provider’s stock valued at $103,000 after purchasing an additional 304 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of NETGEAR by 42.8% during the 1st quarter. Victory Capital Management Inc. now owns 2,724 shares of the communications equipment provider’s stock valued at $135,000 after acquiring an additional 817 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of NETGEAR during the 1st quarter valued at $139,000. US Bancorp DE grew its holdings in shares of NETGEAR by 9.2% during the 1st quarter. US Bancorp DE now owns 3,243 shares of the communications equipment provider’s stock valued at $161,000 after acquiring an additional 272 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. grew its holdings in shares of NETGEAR by 364.8% during the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 3,500 shares of the communications equipment provider’s stock valued at $173,000 after acquiring an additional 2,747 shares in the last quarter. Hedge funds and other institutional investors own 98.89% of the company’s stock.

A number of research analysts have commented on NTGR shares. Global Equities Research restated a “buy” rating and issued a $85.00 target price on shares of NETGEAR in a research note on Tuesday, June 13th. Zacks Investment Research upgraded shares of NETGEAR from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $61.97.

In other NETGEAR news, SVP David John Henry sold 4,694 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $50.00, for a total transaction of $234,700.00. Following the sale, the senior vice president now directly owns 34,651 shares of the company’s stock, valued at approximately $1,732,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Tamesa Rogers sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $44.15, for a total transaction of $66,225.00. Following the completion of the transaction, the senior vice president now owns 23,703 shares of the company’s stock, valued at $1,046,487.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,075 shares of company stock worth $2,458,955. Corporate insiders own 6.20% of the company’s stock.

NETGEAR, Inc. (NTGR) opened at 49.15 on Tuesday. The company has a market capitalization of $1.55 billion, a P/E ratio of 22.56 and a beta of 1.53. NETGEAR, Inc. has a 12-month low of $41.50 and a 12-month high of $59.93. The stock’s 50 day moving average is $47.23 and its 200-day moving average is $46.51.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, July 26th. The communications equipment provider reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.06. NETGEAR had a return on equity of 10.67% and a net margin of 5.42%. The company had revenue of $330.72 million for the quarter, compared to analysts’ expectations of $324.64 million. During the same quarter last year, the business earned $0.72 earnings per share. NETGEAR’s revenue was up 6.1% on a year-over-year basis. On average, equities analysts predict that NETGEAR, Inc. will post $2.74 earnings per share for the current fiscal year.

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NETGEAR Company Profile

NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.

Institutional Ownership by Quarter for NETGEAR (NASDAQ:NTGR)

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