11,276 Shares in NETGEAR, Inc. (NASDAQ:NTGR) Acquired by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC purchased a new position in shares of NETGEAR, Inc. (NASDAQ:NTGR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 11,276 shares of the communications equipment provider’s stock, valued at approximately $164,000.

Several other large investors have also made changes to their positions in NTGR. Brandes Investment Partners LP boosted its position in shares of NETGEAR by 38.7% during the 3rd quarter. Brandes Investment Partners LP now owns 3,465,808 shares of the communications equipment provider’s stock worth $43,635,000 after acquiring an additional 967,537 shares in the last quarter. JPMorgan Chase & Co. boosted its position in NETGEAR by 46.2% in the second quarter. JPMorgan Chase & Co. now owns 656,756 shares of the communications equipment provider’s stock valued at $9,300,000 after buying an additional 207,551 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in NETGEAR by 66.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 440,030 shares of the communications equipment provider’s stock valued at $5,540,000 after buying an additional 175,288 shares in the last quarter. BlackRock Inc. boosted its position in NETGEAR by 3.0% in the first quarter. BlackRock Inc. now owns 5,588,137 shares of the communications equipment provider’s stock valued at $137,917,000 after buying an additional 165,385 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in NETGEAR by 149.2% in the second quarter. Renaissance Technologies LLC now owns 254,937 shares of the communications equipment provider’s stock valued at $3,610,000 after buying an additional 152,637 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

NETGEAR Stock Performance

NTGR stock opened at $14.26 on Friday. The company has a fifty day moving average price of $14.87 and a 200-day moving average price of $13.89. The company has a market capitalization of $422.95 million, a P/E ratio of -4.02 and a beta of 0.84. NETGEAR, Inc. has a 52-week low of $10.40 and a 52-week high of $17.67.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.04. The firm had revenue of $188.67 million during the quarter, compared to the consensus estimate of $185.14 million. NETGEAR had a negative net margin of 14.14% and a negative return on equity of 2.96%. The company’s revenue for the quarter was down 24.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.21) earnings per share. As a group, sell-side analysts forecast that NETGEAR, Inc. will post -0.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, BWS Financial restated a “buy” rating and issued a $30.00 target price on shares of NETGEAR in a research report on Wednesday, April 10th.

Insider Buying and Selling

In related news, SVP Vikram Mehta sold 1,844 shares of NETGEAR stock in a transaction on Monday, February 5th. The shares were sold at an average price of $14.48, for a total transaction of $26,701.12. Following the completion of the transaction, the senior vice president now owns 25,569 shares of the company’s stock, valued at $370,239.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other NETGEAR news, insider Andrew Wonki Kim sold 5,723 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $14.54, for a total value of $83,212.42. Following the completion of the sale, the insider now directly owns 76,656 shares in the company, valued at $1,114,578.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Vikram Mehta sold 1,844 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $14.48, for a total transaction of $26,701.12. Following the completion of the sale, the senior vice president now owns 25,569 shares of the company’s stock, valued at $370,239.12. The disclosure for this sale can be found here. Insiders sold 13,456 shares of company stock valued at $195,304 over the last quarter. Insiders own 6.00% of the company’s stock.

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.