Hsbc Holdings PLC Has $2.01 Million Stake in NETGEAR, Inc. (NASDAQ:NTGR)

Hsbc Holdings PLC lifted its holdings in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 29.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,209 shares of the communications equipment provider's stock after acquiring an additional 16,588 shares during the period. Hsbc Holdings PLC owned approximately 0.25% of NETGEAR worth $2,012,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in NTGR. New York State Teachers Retirement System acquired a new stake in NETGEAR in the 4th quarter valued at $72,000. R Squared Ltd purchased a new stake in shares of NETGEAR in the fourth quarter worth about $72,000. Summit Investment Advisors Inc. raised its holdings in shares of NETGEAR by 19.6% during the 4th 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 during the period. Picton Mahoney Asset Management purchased a new position in NETGEAR in the 4th quarter worth approximately $92,000. Finally, AlphaQuest LLC purchased a new stake in shares of NETGEAR during the fourth quarter valued at approximately $185,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

NETGEAR Price Performance

Shares of NASDAQ:NTGR traded up $0.63 during trading on Wednesday, reaching $28.11. 64,743 shares of the company's stock traded hands, compared to its average volume of 335,600. The stock has a market capitalization of $808.92 million, a P/E ratio of 70.25 and a beta of 1.09. NETGEAR, Inc. has a 12 month low of $11.43 and a 12 month high of $31.55. The company has a 50 day moving average of $23.67 and a 200-day moving average of $25.06.

NETGEAR (NASDAQ:NTGR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.37. The business had revenue of $162.06 million for the quarter, compared to the consensus estimate of $152.24 million. NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. The business's revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.28) EPS. Equities research analysts predict that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Murray Bryan sold 2,671 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $28.09, for a total value of $75,028.39. Following the completion of the transaction, the chief financial officer now directly owns 178,945 shares in the company, valued at $5,026,565.05. This trade represents a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles J. Prober sold 10,929 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $26.64, for a total value of $291,148.56. Following the completion of the sale, the chief executive officer now owns 507,763 shares of the company's stock, valued at $13,526,806.32. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,448 shares of company stock worth $458,221. Insiders own 7.00% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Raymond James lifted their price target on shares of NETGEAR from $22.00 to $29.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. StockNews.com upgraded shares of NETGEAR from a "hold" rating to a "buy" rating in a research note on Monday.

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.