Federated Hermes Inc. Lowers Stock Holdings in NETGEAR, Inc. (NASDAQ:NTGR)

Key Points

• Federated Hermes Inc. decreased its stake in NETGEAR, Inc. by 19.8%, selling 17,494 shares to hold 70,813 shares valued at approximately $1.73 million.
• In recent insider trading, Director Sarah Butterfass and VP Graeme Mclindin sold shares, with Butterfass's sale representing a 12.31% decrease in her holdings.
• NETGEAR's stock traded up 3.8% to $24.85, following a quarterly earnings report that beat analysts' expectations with a profit of $0.06 per share.

Federated Hermes Inc. decreased its position in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 19.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,813 shares of the communications equipment provider's stock after selling 17,494 shares during the period. Federated Hermes Inc. owned about 0.25% of NETGEAR worth $1,732,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NTGR. CWM LLC lifted its position in shares of NETGEAR by 35.4% during the first quarter. CWM LLC now owns 2,916 shares of the communications equipment provider's stock worth $71,000 after purchasing an additional 763 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in NETGEAR by 19.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider's stock valued at $81,000 after buying an additional 479 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in NETGEAR in the first quarter worth about $154,000. ProShare Advisors LLC acquired a new stake in shares of NETGEAR in the 4th quarter valued at approximately $219,000. Finally, PharVision Advisers LLC bought a new position in shares of NETGEAR during the 4th quarter worth approximately $227,000. Institutional investors and hedge funds own 82.97% of the company's stock.

NETGEAR Stock Up 1.7%

Shares of NTGR stock traded up $0.41 during trading hours on Friday, reaching $25.14. The company's stock had a trading volume of 476,254 shares, compared to its average volume of 436,330. The firm's 50 day simple moving average is $27.85 and its 200-day simple moving average is $26.60. The company has a market capitalization of $729.31 million, a price-to-earnings ratio of 11.64 and a beta of 1.07. NETGEAR, Inc. has a fifty-two week low of $14.86 and a fifty-two week high of $31.55.

NETGEAR (NASDAQ:NTGR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The communications equipment provider reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of ($0.16) by $0.22. NETGEAR had a negative return on equity of 3.24% and a net margin of 9.13%. The business had revenue of $170.53 million during the quarter, compared to the consensus estimate of $162.06 million. NETGEAR's quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.74) earnings per share. Sell-side analysts predict that NETGEAR, Inc. will post -1.84 earnings per share for the current year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, Director Laura Durr sold 4,387 shares of NETGEAR stock in a transaction on Friday, June 13th. The stock was sold at an average price of $28.39, for a total transaction of $124,546.93. Following the sale, the director directly owned 45,059 shares in the company, valued at approximately $1,279,225.01. This trade represents a 8.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sarah Butterfass sold 5,848 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $28.89, for a total transaction of $168,948.72. Following the completion of the sale, the director directly owned 41,657 shares in the company, valued at approximately $1,203,470.73. This trade represents a 12.31% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,000 shares of company stock worth $490,401. 2.30% of the stock is 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.