Portolan Capital Management LLC Invests $5.36 Million in NETGEAR, Inc. (NASDAQ:NTGR)

Portolan Capital Management LLC purchased a new stake in NETGEAR, Inc. (NASDAQ:NTGR) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 192,214 shares of the communications equipment provider’s stock, valued at approximately $5,357,000. Portolan Capital Management LLC owned 0.67% of NETGEAR at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. New York State Teachers Retirement System bought a new stake in shares of NETGEAR during the 4th quarter valued at $72,000. R Squared Ltd bought a new stake in NETGEAR during the fourth quarter worth about $72,000. Summit Investment Advisors Inc. lifted its position in NETGEAR by 19.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider’s stock worth $81,000 after purchasing an additional 479 shares during the period. Picton Mahoney Asset Management acquired a new stake in NETGEAR during the fourth quarter worth about $92,000. Finally, AlphaQuest LLC bought a new position in NETGEAR in the 4th quarter valued at about $185,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In related news, CFO Murray Bryan sold 3,848 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $23.92, for a total value of $92,044.16. Following the transaction, the chief financial officer now owns 193,032 shares in the company, valued at $4,617,325.44. The trade was a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles J. Prober sold 10,929 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $26.64, for a total value of $291,148.56. Following the sale, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.

NETGEAR Price Performance

Shares of NETGEAR stock opened at $22.64 on Monday. The company’s 50 day moving average price is $25.01 and its two-hundred day moving average price is $24.67. The firm has a market capitalization of $653.59 million, a P/E ratio of 56.60 and a beta of 1.03. NETGEAR, Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $31.55.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share 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, analysts expect that NETGEAR, Inc. will post -1.84 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NTGR shares. Raymond James increased their price target on shares of NETGEAR from $22.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. StockNews.com lowered NETGEAR from a “buy” rating to a “hold” rating in a research note on Friday, March 21st.

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.