Hsbc Holdings PLC raised its position in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 29.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,209 shares of the communications equipment provider's stock after purchasing an additional 16,588 shares during the quarter. Hsbc Holdings PLC owned approximately 0.25% of NETGEAR worth $2,012,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers grew its stake in NETGEAR by 32.0% in the fourth quarter. Rhumbline Advisers now owns 69,841 shares of the communications equipment provider's stock valued at $1,946,000 after purchasing an additional 16,920 shares in the last quarter. Bailard Inc. acquired a new stake in NETGEAR in the 4th quarter worth approximately $362,000. Robeco Institutional Asset Management B.V. boosted its position in NETGEAR by 285.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 79,693 shares of the communications equipment provider's stock worth $2,221,000 after purchasing an additional 59,005 shares during the period. Inspire Investing LLC acquired a new position in NETGEAR during the fourth quarter valued at approximately $852,000. Finally, Amundi bought a new position in shares of NETGEAR in the fourth quarter valued at approximately $653,000. Hedge funds and other institutional investors own 82.97% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on NTGR shares. StockNews.com lowered shares of NETGEAR from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Raymond James lifted their price target 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.
Check Out Our Latest Stock Report on NTGR
NETGEAR Stock Up 16.1 %
NASDAQ:NTGR opened at $28.00 on Friday. NETGEAR, Inc. has a 12 month low of $10.48 and a 12 month high of $31.55. The firm has a market cap of $805.90 million, a price-to-earnings ratio of 70.00 and a beta of 1.03. The company's 50 day moving average is $23.58 and its 200-day moving average is $24.91.
NETGEAR (NASDAQ:NTGR - Get Free Report) last announced its earnings results on Wednesday, April 30th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.35) by $0.37. NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. The business had revenue of $162.06 million for the quarter, compared to analyst estimates of $152.24 million. During the same quarter in the previous year, the firm posted ($0.28) earnings per share. NETGEAR's revenue was down 1.5% compared to the same quarter last year. Research analysts predict that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CEO Charles J. Prober sold 10,929 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $26.64, for a total transaction of $291,148.56. Following the transaction, the chief executive officer now owns 507,763 shares of the company's stock, valued at approximately $13,526,806.32. The trade was a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Murray Bryan sold 3,848 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $23.92, for a total transaction of $92,044.16. Following the completion of the sale, the chief financial officer now directly owns 193,032 shares in the company, valued at $4,617,325.44. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by insiders.
About NETGEAR
(
Free Report)
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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