AlphaQuest LLC Takes $185,000 Position in NETGEAR, Inc. (NASDAQ:NTGR)

AlphaQuest LLC purchased a new stake in NETGEAR, Inc. (NASDAQ:NTGR) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,655 shares of the communications equipment provider’s stock, valued at approximately $185,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP raised its stake in shares of NETGEAR by 66.5% in the 3rd quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock valued at $37,000 after acquiring an additional 741 shares during the period. New York State Teachers Retirement System purchased a new stake in NETGEAR during the 4th quarter worth approximately $72,000. R Squared Ltd purchased a new stake in NETGEAR during the 4th quarter worth approximately $72,000. Meeder Asset Management Inc. purchased a new stake in NETGEAR during the 3rd quarter worth approximately $91,000. Finally, New York State Common Retirement Fund increased its stake in NETGEAR by 49.3% during the 4th quarter. New York State Common Retirement Fund now owns 7,566 shares of the communications equipment provider’s stock worth $211,000 after buying an additional 2,500 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Charles J. Prober sold 10,929 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $26.64, for a total value of $291,148.56. Following the completion of the transaction, the chief executive officer now owns 507,763 shares in the company, valued at approximately $13,526,806.32. This represents a 2.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas H. Waechter sold 2,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $30.42, for a total transaction of $60,840.00. Following the completion of the transaction, the director now owns 61,135 shares of the company’s stock, valued at approximately $1,859,726.70. The trade was a 3.17 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by company insiders.

NETGEAR Stock Up 1.1 %

NASDAQ NTGR opened at $23.90 on Monday. NETGEAR, Inc. has a 52 week low of $10.48 and a 52 week high of $31.55. The stock has a market capitalization of $689.97 million, a PE ratio of 59.75 and a beta of 0.72. The firm has a 50 day moving average of $26.73 and a two-hundred day moving average of $23.98.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NTGR shares. StockNews.com raised shares of NETGEAR from a “hold” rating to a “buy” rating in a research note on Thursday. Raymond James upped their target price on shares of NETGEAR from $22.00 to $29.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th.

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.