Rhumbline Advisers Has $721,000 Stock Position in NETGEAR, Inc. (NASDAQ:NTGR)

Rhumbline Advisers increased its stake in NETGEAR, Inc. (NASDAQ:NTGR) by 4.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 47,101 shares of the communications equipment provider’s stock after purchasing an additional 1,904 shares during the quarter. Rhumbline Advisers’ holdings in NETGEAR were worth $721,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC bought a new stake in NETGEAR during the first quarter worth $30,000. Quest Partners LLC acquired a new position in shares of NETGEAR during the 4th quarter worth about $53,000. Allspring Global Investments Holdings LLC raised its holdings in shares of NETGEAR by 229.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,940 shares of the communications equipment provider’s stock valued at $157,000 after purchasing an additional 6,921 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in NETGEAR in the 1st quarter valued at about $176,000. Finally, Quadrature Capital Ltd lifted its stake in NETGEAR by 53.1% in the 4th quarter. Quadrature Capital Ltd now owns 27,482 shares of the communications equipment provider’s stock valued at $401,000 after purchasing an additional 9,527 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

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

NETGEAR Price Performance

NASDAQ:NTGR opened at $20.77 on Wednesday. The company has a market cap of $604.41 million, a P/E ratio of -5.39 and a beta of 0.82. The firm’s fifty day moving average price is $16.62 and its two-hundred day moving average price is $15.11. NETGEAR, Inc. has a one year low of $10.40 and a one year high of $22.62.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings results 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 net margin of 21.62% and a negative return on equity of 7.52%. The firm had revenue of $143.90 million for the quarter, compared to analysts’ expectations of $132.69 million. As a group, equities research analysts expect that NETGEAR, Inc. will post -2.29 earnings per share for the current year.

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.