Hillsdale Investment Management Inc. Makes New Investment in NETGEAR, Inc. (NASDAQ:NTGR)

Hillsdale Investment Management Inc. purchased a new position in shares of NETGEAR, Inc. (NASDAQ:NTGR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 159,630 shares of the communications equipment provider’s stock, valued at approximately $4,449,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Sei Investments Co. increased its holdings in shares of NETGEAR by 415.9% in the fourth quarter. Sei Investments Co. now owns 125,468 shares of the communications equipment provider’s stock valued at $3,497,000 after purchasing an additional 101,146 shares during the period. American Century Companies Inc. grew its holdings in NETGEAR by 31.6% during the fourth quarter. American Century Companies Inc. now owns 770,464 shares of the communications equipment provider’s stock worth $21,473,000 after acquiring an additional 184,863 shares during the period. Teacher Retirement System of Texas acquired a new position in NETGEAR during the fourth quarter worth $2,371,000. Tocqueville Asset Management L.P. acquired a new position in NETGEAR during the fourth quarter worth $212,000. Finally, Picton Mahoney Asset Management acquired a new position in NETGEAR during the fourth quarter worth $92,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

NETGEAR Price Performance

Shares of NTGR stock opened at $23.63 on Friday. The business’s fifty day moving average price is $26.44 and its 200 day moving average price is $24.14. The firm has a market capitalization of $682.17 million, a PE ratio of 59.08 and a beta of 0.72. NETGEAR, Inc. has a 1-year low of $10.48 and a 1-year high of $31.55.

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

Insiders Place Their Bets

In other NETGEAR news, CEO Charles J. Prober sold 10,929 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $26.64, for a total transaction of $291,148.56. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Murray Bryan sold 3,848 shares of the company’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 completion of the sale, the chief financial officer now owns 193,032 shares in the company, valued at $4,617,325.44. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NTGR shares. StockNews.com lowered NETGEAR from a “buy” rating to a “hold” rating in a report on Friday. Raymond James upped their price objective on NETGEAR from $22.00 to $29.00 and gave the stock an “outperform” rating in a report 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.