25,877 Shares in NETGEAR, Inc. (NASDAQ:NTGR) Acquired by Sierra Summit Advisors LLC

Key Points

• Sierra Summit Advisors LLC acquired 25,877 shares of NETGEAR, Inc. in the first quarter, valued at approximately $633,000, representing about 0.09% ownership of the company.
• Institutional investors own 82.97% of NETGEAR's stock, with several firms significantly increasing their stakes, including Hsbc Holdings PLC and Tenzing Global Management LLC.
• NETGEAR reported a positive earnings performance with $0.06 EPS, exceeding expectations, and a revenue of $170.53 million for the quarter, reflecting an 18.5% increase year-over-year.

Sierra Summit Advisors LLC bought a new position in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,877 shares of the communications equipment provider's stock, valued at approximately $633,000. Sierra Summit Advisors LLC owned about 0.09% of NETGEAR as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Ritholtz Wealth Management acquired a new position in shares of NETGEAR in the 1st quarter valued at $495,000. Hsbc Holdings PLC grew its holdings in NETGEAR by 29.3% during the fourth quarter. Hsbc Holdings PLC now owns 73,209 shares of the communications equipment provider's stock worth $2,012,000 after acquiring an additional 16,588 shares during the period. GAMMA Investing LLC grew its holdings in NETGEAR by 3,539.0% during the first quarter. GAMMA Investing LLC now owns 11,936 shares of the communications equipment provider's stock worth $292,000 after acquiring an additional 11,608 shares during the period. Tenzing Global Management LLC grew its holdings in NETGEAR by 64.3% during the fourth quarter. Tenzing Global Management LLC now owns 287,500 shares of the communications equipment provider's stock worth $8,013,000 after acquiring an additional 112,500 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in NETGEAR by 30.7% during the fourth quarter. Ameriprise Financial Inc. now owns 116,525 shares of the communications equipment provider's stock worth $3,248,000 after acquiring an additional 27,379 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered NETGEAR from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd.

NETGEAR Stock Up 1.7%

NTGR opened at $25.14 on Friday. The business's fifty day simple moving average is $27.77 and its 200 day simple moving average is $26.58. NETGEAR, Inc. has a 52 week low of $14.86 and a 52 week high of $31.55. The firm has a market cap of $729.31 million, a P/E ratio of 11.64 and a beta of 1.07.

NETGEAR (NASDAQ:NTGR - Get Free Report) last released its earnings results on Wednesday, July 30th. The communications equipment provider reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.22. The firm had revenue of $170.53 million for the quarter, compared to the consensus estimate of $162.06 million. NETGEAR had a negative return on equity of 3.24% and a net margin of 9.13%. The firm's revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.74) earnings per share. As a group, equities analysts expect that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Graeme Mclindin sold 2,377 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $28.38, for a total transaction of $67,459.26. Following the sale, the vice president directly owned 61,208 shares in the company, valued at approximately $1,737,083.04. This trade represents a 3.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sarah Butterfass sold 5,848 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $28.89, for a total value of $168,948.72. Following the sale, the director owned 41,657 shares in the company, valued at approximately $1,203,470.73. The trade was a 12.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,000 shares of company stock valued at $490,401. 2.30% of the stock is currently owned by corporate insiders.

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.

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