8,000 Shares in NETGEAR, Inc. (NASDAQ:NTGR) Purchased by NJ State Employees Deferred Compensation Plan

NJ State Employees Deferred Compensation Plan acquired a new position in NETGEAR, Inc. (NASDAQ:NTGR) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 8,000 shares of the communications equipment provider’s stock, valued at approximately $223,000.

Several other large investors also recently bought and sold shares of NTGR. Creative Planning bought a new stake in NETGEAR in the 3rd quarter worth about $235,000. Los Angeles Capital Management LLC bought a new stake in NETGEAR in the 3rd quarter worth about $1,805,000. Versor Investments LP purchased a new position in NETGEAR in the third quarter worth about $235,000. Empowered Funds LLC boosted its position in NETGEAR by 23.2% in the third quarter. Empowered Funds LLC now owns 141,976 shares of the communications equipment provider’s stock worth $2,848,000 after purchasing an additional 26,756 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in NETGEAR in the third quarter worth about $91,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on NTGR shares. Raymond James raised their target price on NETGEAR from $22.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. StockNews.com cut NETGEAR from a “buy” rating to a “hold” rating in a research report on Monday.

Insider Activity

In other news, Director Thomas H. Waechter sold 2,000 shares of NETGEAR stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $30.42, for a total transaction of $60,840.00. Following the transaction, the director now directly owns 61,135 shares of the company’s stock, valued at $1,859,726.70. The trade was a 3.17 % decrease in their position. 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 NETGEAR stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $26.64, for a total value of $291,148.56. Following the transaction, the chief executive officer now directly owns 507,763 shares in the company, 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 Stock Performance

Shares of NASDAQ:NTGR opened at $24.87 on Tuesday. The stock has a market capitalization of $717.97 million, a price-to-earnings ratio of 62.18 and a beta of 0.83. The stock’s 50-day simple moving average is $27.49 and its two-hundred day simple moving average is $23.48. NETGEAR, Inc. has a 52-week low of $10.48 and a 52-week high of $31.55.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.24). NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. As a group, equities analysts forecast that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.

NETGEAR 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.