Renaissance Technologies LLC Raises Stock Holdings in NETGEAR, Inc. (NASDAQ:NTGR)

Renaissance Technologies LLC boosted its position in NETGEAR, Inc. (NASDAQ:NTGR) by 10.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 263,018 shares of the communications equipment provider’s stock after purchasing an additional 25,200 shares during the period. Renaissance Technologies LLC’s holdings in NETGEAR were worth $4,024,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of NETGEAR in the first quarter valued at approximately $30,000. Allspring Global Investments Holdings LLC boosted its stake in NETGEAR by 229.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 9,940 shares of the communications equipment provider’s stock worth $157,000 after buying an additional 6,921 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new position in NETGEAR during the 1st quarter worth approximately $176,000. Quadrature Capital Ltd increased its position in shares of NETGEAR by 53.1% in the fourth quarter. Quadrature Capital Ltd now owns 27,482 shares of the communications equipment provider’s stock valued at $401,000 after acquiring an additional 9,527 shares during the period. Finally, Empowered Funds LLC purchased a new stake in NETGEAR in the 1st quarter worth approximately $480,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

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

NETGEAR Price Performance

Shares of NETGEAR stock opened at $19.86 on Friday. The stock has a market cap of $577.93 million, a price-to-earnings ratio of -5.16 and a beta of 0.82. NETGEAR, Inc. has a 1 year low of $10.40 and a 1 year high of $22.62. The firm’s 50-day moving average is $16.89 and its 200 day moving average is $15.21.

NETGEAR (NASDAQ:NTGR) last issued its earnings results on Wednesday, July 31st. The communications equipment provider reported ($0.94) earnings per share for the quarter, hitting analysts’ consensus estimates 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. On average, equities analysts expect that NETGEAR, Inc. will post -2.11 EPS for the current fiscal year.

Insider Buying and Selling at NETGEAR

In other 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 completion of the sale, the director now directly owns 65,318 shares in the company, valued at approximately $1,306,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.00% of the stock is owned by corporate insiders.

NETGEAR Company 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.