Brandes Investment Partners LP Buys 247,162 Shares of NETGEAR, Inc. (NASDAQ:NTGR)

Brandes Investment Partners LP lifted its position in NETGEAR, Inc. (NASDAQ:NTGR) by 6.8% during the second quarter, HoldingsChannel.com reports. The fund owned 3,896,492 shares of the communications equipment provider’s stock after purchasing an additional 247,162 shares during the period. Brandes Investment Partners LP owned approximately 0.13% of NETGEAR worth $59,246,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NTGR. Vanguard Group Inc. increased its stake in NETGEAR by 4.4% in the first quarter. Vanguard Group Inc. now owns 2,513,785 shares of the communications equipment provider’s stock valued at $39,642,000 after purchasing an additional 105,994 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in NETGEAR by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,342,061 shares of the communications equipment provider’s stock worth $19,568,000 after buying an additional 26,519 shares during the period. Acadian Asset Management LLC lifted its holdings in NETGEAR by 72.4% during the first quarter. Acadian Asset Management LLC now owns 622,936 shares of the communications equipment provider’s stock worth $9,820,000 after acquiring an additional 261,705 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of NETGEAR by 137.3% in the second quarter. American Century Companies Inc. now owns 353,893 shares of the communications equipment provider’s stock worth $5,415,000 after acquiring an additional 204,734 shares in the last quarter. Finally, Donald Smith & CO. Inc. raised its position in shares of NETGEAR by 11.9% during the second quarter. Donald Smith & CO. Inc. now owns 329,300 shares of the communications equipment provider’s stock worth $5,038,000 after purchasing an additional 35,100 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Activity

In related news, Director Thomas H. Waechter sold 2,500 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $20.00, for a total transaction of $50,000.00. Following the sale, the director now owns 65,318 shares in the company, valued at $1,306,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.00% of the stock is owned by corporate insiders.

NETGEAR Stock Performance

Shares of NETGEAR stock opened at $19.86 on Monday. NETGEAR, Inc. has a 52-week low of $10.40 and a 52-week high of $22.62. The business’s 50 day simple moving average is $16.89 and its 200 day simple moving average is $15.22. The firm has a market cap of $577.93 million, a PE ratio of -5.16 and a beta of 0.82.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings data on Wednesday, July 31st. The communications equipment provider reported ($0.94) EPS for the quarter, hitting analysts’ consensus estimates of ($0.94). NETGEAR had a negative net margin of 21.62% and a negative return on equity of 7.52%. The business had revenue of $143.90 million for the quarter, compared to analyst estimates of $132.69 million. As a group, equities research analysts predict that NETGEAR, Inc. will post -2.11 EPS for the current year.

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.