First Eagle Investment Management LLC Lowers Position in NETGEAR, Inc. (NASDAQ:NTGR)

First Eagle Investment Management LLC cut its stake in NETGEAR, Inc. (NASDAQ:NTGR) by 25.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 122,117 shares of the communications equipment provider’s stock after selling 41,295 shares during the quarter. First Eagle Investment Management LLC owned 0.42% of NETGEAR worth $1,868,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of NTGR. Charles Schwab Investment Management Inc. raised its stake in shares of NETGEAR by 9.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 723,246 shares of the communications equipment provider’s stock worth $10,545,000 after purchasing an additional 63,786 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of NETGEAR by 40.1% during the fourth quarter. BNP Paribas Financial Markets now owns 75,354 shares of the communications equipment provider’s stock valued at $1,099,000 after acquiring an additional 21,587 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of NETGEAR by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,342,061 shares of the communications equipment provider’s stock valued at $19,568,000 after acquiring an additional 26,519 shares during the last quarter. Trexquant Investment LP increased its position in shares of NETGEAR by 28.6% during the fourth quarter. Trexquant Investment LP now owns 113,952 shares of the communications equipment provider’s stock valued at $1,661,000 after acquiring an additional 25,329 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of NETGEAR during the fourth quarter valued at approximately $53,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NETGEAR

In other NETGEAR news, Director Thomas H. Waechter sold 2,500 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $20.00, for a total transaction of $50,000.00. Following the completion of the transaction, the director now directly owns 65,318 shares of the company’s stock, valued at $1,306,360. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.00% of the stock is owned by corporate insiders.

NETGEAR Trading Down 2.1 %

Shares of NTGR opened at $20.27 on Friday. The company has a market capitalization of $589.86 million, a price-to-earnings ratio of -5.26 and a beta of 0.82. The stock has a 50 day moving average of $16.42 and a 200 day moving average of $15.02. NETGEAR, Inc. has a 12 month low of $10.40 and a 12 month high of $22.62.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings data on Wednesday, July 31st. The communications equipment provider reported ($0.94) earnings per share for the quarter, meeting the consensus estimate of ($0.94). NETGEAR had a negative return on equity of 7.52% and a negative net margin of 21.62%. The business had revenue of $143.90 million during the quarter, compared to analyst estimates of $132.69 million. As a group, equities research analysts predict that NETGEAR, Inc. will post -2.29 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded NETGEAR from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th.

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.