NETGEAR, Inc. (NASDAQ:NTGR) Stake Trimmed by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its stake in NETGEAR, Inc. (NASDAQ:NTGR) by 26.4% during the fourth quarter, HoldingsChannel reports. The firm owned 373,963 shares of the communications equipment provider’s stock after selling 134,434 shares during the period. Charles Schwab Investment Management Inc.’s holdings in NETGEAR were worth $10,422,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP increased its stake in NETGEAR by 66.5% in the 3rd quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock worth $37,000 after purchasing an additional 741 shares in the last quarter. R Squared Ltd purchased a new position in NETGEAR during the 4th quarter valued at about $72,000. New York State Teachers Retirement System purchased a new position in NETGEAR during the 4th quarter valued at about $72,000. New York State Common Retirement Fund grew 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 valued at $211,000 after acquiring an additional 2,500 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan purchased a new position in NETGEAR during the 4th quarter valued at about $223,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at NETGEAR

In related news, CFO Murray Bryan sold 3,848 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $23.92, for a total value of $92,044.16. Following the completion of the sale, the chief financial officer now owns 193,032 shares of the company’s stock, valued at approximately $4,617,325.44. The trade was a 1.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Charles J. Prober sold 10,929 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 507,763 shares of the company’s stock, valued at approximately $13,526,806.32. The trade was a 2.11 % 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 Price Performance

NASDAQ:NTGR opened at $23.63 on Friday. The stock has a market cap of $682.17 million, a PE ratio of 59.08 and a beta of 0.72. The stock’s 50-day moving average is $26.44 and its two-hundred day moving average is $24.20. NETGEAR, Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $31.55.

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

Analyst Ratings Changes

Several equities analysts have weighed in on the company. StockNews.com cut NETGEAR from a “buy” rating to a “hold” rating in a research note on Friday. Raymond James lifted their target price on NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th.

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.