Renaissance Technologies LLC Buys 243,843 Shares of NETGEAR, Inc. $NTGR

Renaissance Technologies LLC raised its stake in NETGEAR, Inc. (NASDAQ:NTGR) by 77.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 557,462 shares of the communications equipment provider’s stock after acquiring an additional 243,843 shares during the quarter. Renaissance Technologies LLC’s holdings in NETGEAR were worth $12,175,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Comerica Bank lifted its position in shares of NETGEAR by 64.8% during the third quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 429 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of NETGEAR by 6.4% during the first quarter. Cetera Investment Advisers now owns 11,996 shares of the communications equipment provider’s stock valued at $262,000 after purchasing an additional 725 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of NETGEAR by 35.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the communications equipment provider’s stock valued at $101,000 after purchasing an additional 904 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of NETGEAR in the fourth quarter valued at approximately $25,000. Finally, Rhumbline Advisers raised its position in NETGEAR by 2.3% in the 2nd quarter. Rhumbline Advisers now owns 51,678 shares of the communications equipment provider’s stock worth $1,502,000 after purchasing an additional 1,140 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other NETGEAR news, Director Laura Durr sold 1,000 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $26.76, for a total transaction of $26,760.00. Following the completion of the transaction, the director owned 42,059 shares in the company, valued at approximately $1,125,498.84. This represents a 2.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sarah Butterfass sold 2,704 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $26.90, for a total value of $72,737.60. Following the transaction, the director owned 38,953 shares of the company’s stock, valued at approximately $1,047,835.70. The trade was a 6.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 9,085 shares of company stock worth $242,293 over the last ninety days. Company insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $36.00.

NETGEAR Stock Performance

NTGR opened at $24.16 on Friday. The firm’s fifty day moving average is $23.88 and its two-hundred day moving average is $23.18. The firm has a market cap of $648.45 million, a PE ratio of -27.45 and a beta of 1.19. NETGEAR, Inc. has a twelve month low of $19.00 and a twelve month high of $36.86.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.14. NETGEAR had a negative return on equity of 2.71% and a negative net margin of 3.58%.The company had revenue of $158.82 million during the quarter, compared to the consensus estimate of $152.49 million. During the same period in the prior year, the company earned $0.02 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities analysts forecast that NETGEAR, Inc. will post -0.5 EPS for the current fiscal year.

NETGEAR Profile

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.