Hsbc Holdings PLC Purchases 29,020 Shares of NETGEAR, Inc. $NTGR

Hsbc Holdings PLC boosted its position in NETGEAR, Inc. (NASDAQ:NTGR) by 96.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,050 shares of the communications equipment provider’s stock after purchasing an additional 29,020 shares during the period. Hsbc Holdings PLC’s holdings in NETGEAR were worth $1,268,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NTGR. Concentric Capital Strategies LP bought a new stake in shares of NETGEAR during the fourth quarter worth about $7,020,000. Anchor Capital Advisors LLC acquired a new position in shares of NETGEAR in the fourth quarter valued at approximately $2,131,000. OP Asset Management Ltd bought a new position in NETGEAR in the 1st quarter valued at approximately $5,266,000. Leuthold Group LLC raised its holdings in NETGEAR by 56.1% in the 4th quarter. Leuthold Group LLC now owns 159,432 shares of the communications equipment provider’s stock valued at $3,911,000 after buying an additional 57,266 shares during the last quarter. Finally, Brandes Investment Partners LP boosted its position in NETGEAR by 10.8% during the 4th quarter. Brandes Investment Partners LP now owns 1,855,555 shares of the communications equipment provider’s stock worth $45,517,000 after buying an additional 180,295 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other NETGEAR news, insider Pramod Badjate sold 3,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $25.47, for a total transaction of $76,410.00. Following the completion of the sale, the insider owned 165,513 shares of the company’s stock, valued at approximately $4,215,616.11. This represents a 1.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Shravan Goli sold 3,381 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $26.89, for a total transaction of $90,915.09. Following the sale, the director directly owned 25,857 shares of the company’s stock, valued at $695,294.73. This represents a 11.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,085 shares of company stock valued at $318,703 over the last three months. 3.10% of the stock is owned by insiders.

NETGEAR Stock Up 1.7%

Shares of NASDAQ:NTGR opened at $25.36 on Tuesday. The firm has a market cap of $680.66 million, a P/E ratio of -28.82 and a beta of 1.19. NETGEAR, Inc. has a 12-month low of $19.00 and a 12-month high of $36.86. The business has a fifty day simple moving average of $23.98 and a 200 day simple moving average of $23.18.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.14. NETGEAR had a negative return on equity of 2.71% and a negative net margin of 3.58%.The firm had revenue of $158.82 million for the quarter, compared to analyst estimates of $152.49 million. During the same quarter in the previous year, the company posted $0.02 EPS. The business’s revenue was down 2.0% on a year-over-year basis. As a group, equities research analysts expect that NETGEAR, Inc. will post -0.5 EPS for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of NETGEAR in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, NETGEAR currently has a consensus rating of “Hold” and an average price target of $36.00.

NETGEAR Profile

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.