OP Asset Management Ltd Makes New Investment in NETGEAR, Inc. $NTGR

OP Asset Management Ltd acquired a new position in NETGEAR, Inc. (NASDAQ:NTGR) in the 1st quarter, Holdings Channel reports. The firm acquired 241,126 shares of the communications equipment provider’s stock, valued at approximately $5,266,000.

Other hedge funds have also made changes to their positions in the company. Johnson Financial Group Inc. acquired a new position in shares of NETGEAR during the 4th quarter valued at $25,000. Comerica Bank raised its position in NETGEAR by 64.8% in the third quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock valued at $35,000 after purchasing an additional 429 shares during the period. IFP Advisors Inc raised its position in NETGEAR by 161.7% in the fourth quarter. IFP Advisors Inc now owns 2,243 shares of the communications equipment provider’s stock valued at $55,000 after purchasing an additional 1,386 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of NETGEAR during the fourth quarter worth about $89,000. Finally, FNY Investment Advisers LLC lifted its stake in shares of NETGEAR by 50.0% during the third quarter. FNY Investment Advisers LLC now owns 3,000 shares of the communications equipment provider’s stock worth $97,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, Director Laura Durr sold 2,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $25.94, for a total value of $51,880.00. Following the transaction, the director owned 43,059 shares in the company, valued at approximately $1,116,950.46. The trade was a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pramod Badjate sold 3,000 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $25.47, for a total value of $76,410.00. Following the completion of the transaction, the insider directly owned 165,513 shares of the company’s stock, valued at $4,215,616.11. This represents a 1.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 12,085 shares of company stock worth $318,703. 3.10% of the stock is owned by insiders.

NETGEAR Price Performance

NETGEAR stock opened at $22.84 on Friday. NETGEAR, Inc. has a 12-month low of $19.00 and a 12-month high of $36.86. The company has a market capitalization of $613.03 million, a price-to-earnings ratio of -25.95 and a beta of 1.17. The firm’s fifty day moving average price is $25.16 and its 200 day moving average price is $23.42.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.14. The company had revenue of $158.82 million during the quarter, compared to analysts’ expectations of $152.49 million. NETGEAR had a negative net margin of 3.58% and a negative return on equity of 2.71%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 EPS. Analysts forecast that NETGEAR, Inc. will post -0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on NTGR. Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research note on Wednesday. Zacks Research raised NETGEAR from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Finally, Wall Street Zen upgraded NETGEAR from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, NETGEAR presently has a consensus rating of “Hold” and a consensus target price of $36.00.

About NETGEAR

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.