Hsbc Holdings PLC Acquires New Shares in NETGEAR, Inc. $NTGR

Hsbc Holdings PLC acquired a new position in shares of NETGEAR, Inc. (NASDAQ:NTGR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 73,718 shares of the communications equipment provider’s stock, valued at approximately $1,707,000. Hsbc Holdings PLC owned about 0.27% of NETGEAR as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of NETGEAR during the second quarter valued at about $82,799,000. Windward Management LP acquired a new position in shares of NETGEAR in the fourth quarter valued at approximately $35,468,000. Concentric Capital Strategies LP bought a new position in NETGEAR in the 4th quarter valued at approximately $7,020,000. Lazard Asset Management LLC raised its holdings in NETGEAR by 87.6% in the 3rd quarter. Lazard Asset Management LLC now owns 548,911 shares of the communications equipment provider’s stock valued at $17,779,000 after buying an additional 256,266 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in NETGEAR by 77.8% during the 1st 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 period. Institutional investors and hedge funds own 82.97% of the company’s stock.

NETGEAR Price Performance

NTGR stock opened at $21.09 on Monday. The firm has a market cap of $573.23 million, a price-to-earnings ratio of -22.68 and a beta of 1.20. NETGEAR, Inc. has a 12-month low of $19.00 and a 12-month high of $36.86. The company’s fifty day simple moving average is $23.00 and its 200 day simple moving average is $23.37.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wall Street Zen cut shares of NETGEAR from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings restated 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.50.

Insider Activity at NETGEAR

In other NETGEAR news, insider Pramod Badjate sold 3,000 shares of NETGEAR 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 sale, the insider directly owned 154,073 shares in the company, valued at approximately $3,679,263.24. The trade was a 1.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $26.76, for a total value of $26,760.00. Following the completion of the transaction, the director directly owned 42,059 shares in the company, valued at approximately $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. Company insiders own 3.10% of the company’s stock.

About NETGEAR

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.