Hsbc Holdings PLC Takes Position in NETGEAR, Inc. $NTGR

Hsbc Holdings PLC bought a new position in shares of NETGEAR, Inc. (NASDAQ:NTGR) during the second quarter, Holdings Channel.com reports. The fund bought 73,718 shares of the communications equipment provider’s stock, valued at approximately $1,707,000.

Other large investors also recently modified their holdings of the company. Renaissance Technologies LLC raised its holdings in NETGEAR by 77.8% during the first quarter. Renaissance Technologies LLC now owns 557,462 shares of the communications equipment provider’s stock worth $12,175,000 after buying an additional 243,843 shares during the last quarter. Concentric Capital Strategies LP acquired a new position in shares of NETGEAR during the fourth quarter valued at about $7,020,000. Anchor Capital Advisors LLC acquired a new position in shares of NETGEAR during the fourth quarter valued at about $2,131,000. Hara Capital LLC bought a new stake in shares of NETGEAR during the second quarter worth about $1,456,000. Finally, OP Asset Management Ltd bought a new stake in shares of NETGEAR during the first quarter worth about $5,266,000. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Pramod Badjate sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $23.88, for a total value of $71,640.00. Following the completion of the transaction, the insider directly owned 154,073 shares of the company’s stock, valued at $3,679,263.24. This represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Laura Durr sold 1,000 shares of NETGEAR stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $26.76, for a total value of $26,760.00. Following the sale, the director owned 42,059 shares in the company, valued at $1,125,498.84. This trade represents a 2.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NTGR has been the topic of several recent research reports. Wall Street Zen cut shares of NETGEAR from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reissued a “sell (d)” rating on shares of NETGEAR in a research note on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, NETGEAR currently has an average rating of “Hold” and an average price target of $36.50.

NETGEAR Price Performance

Shares of NTGR stock opened at $21.09 on Monday. The firm has a 50-day moving average of $23.00 and a 200-day moving average of $23.37. NETGEAR, Inc. has a one year low of $19.00 and a one year high of $36.86. The company has a market cap of $573.23 million, a P/E ratio of -22.68 and a beta of 1.20.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings results on Thursday, August 6th. The communications equipment provider reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.15. NETGEAR had a negative net margin of 3.71% and a negative return on equity of 2.79%. The business had revenue of $168.56 million for the quarter, compared to analysts’ expectations of $157.80 million. During the same period in the previous year, the company earned $0.06 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, research analysts expect that NETGEAR, Inc. will post -0.52 earnings per share for the current fiscal year.

NETGEAR Company 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.