Federated Hermes Inc. Trims Stake in NETGEAR, Inc. (NASDAQ:NTGR)

Federated Hermes Inc. cut its position in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 13.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,307 shares of the communications equipment provider's stock after selling 13,709 shares during the period. Federated Hermes Inc. owned approximately 0.31% of NETGEAR worth $2,461,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN raised its holdings in shares of NETGEAR by 23.4% during the 4th quarter. Wells Fargo & Company MN now owns 17,802 shares of the communications equipment provider's stock worth $496,000 after acquiring an additional 3,375 shares in the last quarter. Integrated Quantitative Investments LLC purchased a new stake in NETGEAR during the fourth quarter valued at $425,000. Trexquant Investment LP lifted its position in NETGEAR by 149.5% during the fourth quarter. Trexquant Investment LP now owns 154,104 shares of the communications equipment provider's stock valued at $4,295,000 after purchasing an additional 92,335 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of NETGEAR by 115.3% in the 4th quarter. Franklin Resources Inc. now owns 91,896 shares of the communications equipment provider's stock worth $2,561,000 after buying an additional 49,223 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of NETGEAR by 318.3% in the 4th quarter. Alliancebernstein L.P. now owns 135,430 shares of the communications equipment provider's stock worth $3,774,000 after buying an additional 103,051 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on NTGR. Raymond James upped their target price on shares of NETGEAR from $22.00 to $29.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. StockNews.com downgraded NETGEAR from a "buy" rating to a "hold" rating in a research report on Friday, March 21st.

Insider Transactions at NETGEAR

In other news, CFO Murray Bryan sold 3,848 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $23.92, for a total value of $92,044.16. Following the transaction, the chief financial officer now directly owns 193,032 shares in the company, valued at approximately $4,617,325.44. This represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Charles J. Prober sold 10,929 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $26.64, for a total transaction of $291,148.56. Following the completion of the transaction, the chief executive officer now directly owns 507,763 shares in the company, valued at $13,526,806.32. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.00% of the company's stock.

NETGEAR Stock Performance

NTGR stock traded down $0.08 during mid-day trading on Friday, reaching $22.11. 198,999 shares of the stock traded hands, compared to its average volume of 326,689. The business has a 50-day moving average price of $24.47 and a two-hundred day moving average price of $24.67. The stock has a market capitalization of $638.29 million, a PE ratio of 55.28 and a beta of 1.03. NETGEAR, Inc. has a one year low of $10.48 and a one year high of $31.55.

NETGEAR (NASDAQ:NTGR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.24). NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. On average, equities analysts expect that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.

About NETGEAR

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.