Donald Smith & CO. Inc. Sells 22,491 Shares of NETGEAR, Inc. (NASDAQ:NTGR)

Donald Smith & CO. Inc. lowered its stake in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 6.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 306,809 shares of the communications equipment provider’s stock after selling 22,491 shares during the period. Donald Smith & CO. Inc.’s holdings in NETGEAR were worth $6,155,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of NTGR. Mizuho Markets Americas LLC bought a new position in NETGEAR during the first quarter valued at $1,055,000. Renaissance Technologies LLC lifted its position in shares of NETGEAR by 10.6% during the 2nd quarter. Renaissance Technologies LLC now owns 263,018 shares of the communications equipment provider’s stock valued at $4,024,000 after buying an additional 25,200 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of NETGEAR by 125.0% during the 2nd quarter. Federated Hermes Inc. now owns 127,892 shares of the communications equipment provider’s stock worth $1,957,000 after acquiring an additional 71,054 shares during the period. First Eagle Investment Management LLC increased its holdings in NETGEAR by 39.1% in the 1st quarter. First Eagle Investment Management LLC now owns 163,412 shares of the communications equipment provider’s stock worth $2,577,000 after acquiring an additional 45,900 shares during the last quarter. Finally, Brandes Investment Partners LP increased its holdings in NETGEAR by 6.8% in the 2nd quarter. Brandes Investment Partners LP now owns 3,896,492 shares of the communications equipment provider’s stock worth $59,246,000 after acquiring an additional 247,162 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity

In other NETGEAR news, Director Thomas H. Waechter sold 2,500 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $20.00, for a total value of $50,000.00. Following the transaction, the director now directly owns 65,318 shares in the company, valued at $1,306,360. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of NETGEAR from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th.

NETGEAR Stock Performance

NTGR stock traded down $0.01 during midday trading on Wednesday, reaching $20.43. 40,884 shares of the company’s stock traded hands, compared to its average volume of 253,159. The firm has a market capitalization of $585.91 million, a PE ratio of -3.99 and a beta of 0.83. The company has a 50-day moving average price of $19.10 and a two-hundred day moving average price of $16.03. NETGEAR, Inc. has a 52 week low of $10.48 and a 52 week high of $22.62.

NETGEAR (NASDAQ:NTGR) last posted its earnings results on Wednesday, July 31st. The communications equipment provider reported ($0.94) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.94). NETGEAR had a negative net margin of 21.62% and a negative return on equity of 7.52%. The business had revenue of $143.90 million for the quarter, compared to analyst estimates of $132.69 million. As a group, analysts predict that NETGEAR, Inc. will post -1.97 EPS 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.