Brandywine Global Investment Management LLC Cuts Stake in NETGEAR, Inc. (NASDAQ:NTGR)

Brandywine Global Investment Management LLC cut its stake in NETGEAR, Inc. (NASDAQ:NTGR) by 4.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,550 shares of the communications equipment provider’s stock after selling 4,390 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.34% of NETGEAR worth $2,719,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. lifted its position in shares of NETGEAR by 31.6% in the fourth quarter. American Century Companies Inc. now owns 770,464 shares of the communications equipment provider’s stock valued at $21,473,000 after acquiring an additional 184,863 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in NETGEAR by 126.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 675,209 shares of the communications equipment provider’s stock valued at $18,818,000 after purchasing an additional 376,974 shares in the last quarter. Tenzing Global Management LLC acquired a new stake in NETGEAR during the 3rd quarter worth $3,510,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of NETGEAR by 17.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 170,281 shares of the communications equipment provider’s stock worth $4,746,000 after buying an additional 24,868 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of NETGEAR in the fourth quarter valued at about $4,449,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NTGR shares. Raymond James upped their price objective on shares of NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. StockNews.com cut NETGEAR from a “buy” rating to a “hold” rating in a report on Friday, March 21st.

NETGEAR Trading Down 0.1 %

Shares of NTGR stock opened at $24.90 on Thursday. NETGEAR, Inc. has a twelve month low of $10.48 and a twelve month high of $31.55. The stock has a market cap of $718.84 million, a price-to-earnings ratio of 62.25 and a beta of 0.72. The company’s 50-day moving average price is $26.08 and its 200-day moving average price is $24.61.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share for the quarter, meeting the consensus estimate of ($0.24). NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. As a group, equities research analysts predict that NETGEAR, Inc. will post -1.84 EPS for the current year.

Insider Buying and Selling

In related news, CEO Charles J. Prober sold 10,929 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $26.64, for a total transaction of $291,148.56. Following the completion of the sale, the chief executive officer now directly owns 507,763 shares of the company’s stock, valued at approximately $13,526,806.32. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Murray Bryan sold 3,848 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $23.92, for a total transaction of $92,044.16. Following the completion of the transaction, the chief financial officer now directly owns 193,032 shares in the company, valued at $4,617,325.44. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by company insiders.

About NETGEAR

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.