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

Hsbc Holdings PLC lifted its stake in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 96.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,050 shares of the communications equipment provider’s stock after purchasing an additional 29,020 shares during the quarter. Hsbc Holdings PLC owned 0.22% of NETGEAR worth $1,268,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Comerica Bank lifted its position in NETGEAR by 64.8% during the third quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 429 shares during the period. Tower Research Capital LLC TRC increased its holdings in NETGEAR by 35.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the communications equipment provider’s stock valued at $101,000 after buying an additional 904 shares during the period. Johnson Financial Group Inc. bought a new position in NETGEAR in the 4th quarter valued at about $25,000. Rhumbline Advisers raised its position in shares of NETGEAR by 2.3% in the 2nd quarter. Rhumbline Advisers now owns 51,678 shares of the communications equipment provider’s stock valued at $1,502,000 after buying an additional 1,140 shares in the last quarter. Finally, Creative Planning raised its position in shares of NETGEAR by 5.3% in the 3rd quarter. Creative Planning now owns 24,014 shares of the communications equipment provider’s stock valued at $778,000 after buying an additional 1,219 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

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

NETGEAR Stock Performance

NETGEAR stock opened at $25.36 on Tuesday. NETGEAR, Inc. has a 52 week low of $19.00 and a 52 week high of $36.86. The stock has a market capitalization of $680.66 million, a P/E ratio of -28.82 and a beta of 1.19. The stock has a fifty day moving average of $23.98 and a 200-day moving average of $23.18.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $158.82 million for the quarter, compared to analyst estimates of $152.49 million. During the same period last year, the firm posted $0.02 earnings per share. NETGEAR’s revenue was down 2.0% compared to the same quarter last year. On average, research analysts forecast that NETGEAR, Inc. will post -0.5 earnings per share for the current year.

Insider Activity at NETGEAR

In other news, Director Laura Durr sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $25.94, for a total value of $51,880.00. Following the sale, the director directly owned 43,059 shares in the company, valued at approximately $1,116,950.46. This trade represents a 4.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pramod Badjate sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $25.47, for a total transaction of $76,410.00. Following the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders sold a total of 12,085 shares of company stock worth $318,703 over the last three months. 3.10% of the stock is owned by insiders.

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.