Pinnacle Holdings LLC Makes New Investment in NETGEAR, Inc. $NTGR

Pinnacle Holdings LLC acquired a new stake in NETGEAR, Inc. (NASDAQ:NTGR) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 56,084 shares of the communications equipment provider’s stock, valued at approximately $1,310,000.

A number of other institutional investors have also recently modified their holdings of the stock. Johnson Financial Group Inc. acquired a new stake in shares of NETGEAR during the 4th quarter worth $25,000. Comerica Bank increased its position in shares of NETGEAR by 64.8% in the third quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 429 shares during the period. IFP Advisors Inc raised its stake 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 in the last quarter. Persistent Asset Partners Ltd acquired a new position in NETGEAR in the second quarter valued at about $58,000. Finally, Fifth Third Bancorp lifted its position in NETGEAR by 6,085.7% during the first quarter. Fifth Third Bancorp now owns 3,031 shares of the communications equipment provider’s stock worth $66,000 after purchasing an additional 2,982 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Laura Durr sold 1,000 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $26.76, for a total value of $26,760.00. Following the completion of the transaction, the director owned 42,059 shares of the company’s stock, valued at approximately $1,125,498.84. This represents a 2.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sarah Butterfass sold 2,704 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $26.90, for a total transaction of $72,737.60. Following the completion of the sale, the director owned 38,953 shares in the company, valued at approximately $1,047,835.70. The trade was a 6.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 12,085 shares of company stock valued at $313,933. 3.10% of the stock is owned by corporate insiders.

NETGEAR Price Performance

NASDAQ NTGR opened at $21.02 on Monday. The business has a fifty day moving average price of $23.22 and a two-hundred day moving average price of $23.34. The stock has a market capitalization of $571.32 million, a PE ratio of -22.60 and a beta of 1.20. NETGEAR, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $36.86.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings results on Thursday, August 6th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.15. NETGEAR had a negative return on equity of 2.79% and a negative net margin of 3.71%.The company had revenue of $168.56 million for the quarter, compared to analyst estimates of $157.80 million. During the same quarter last year, the company posted $0.06 EPS. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, sell-side analysts expect that NETGEAR, Inc. will post -0.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research note on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $36.50.

NETGEAR Profile

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.