NETGEAR, Inc. (NASDAQ:NTGR) Holdings Cut by Federated Hermes Inc.

Federated Hermes Inc. trimmed its holdings in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 13.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,307 shares of the communications equipment provider's stock after selling 13,709 shares during the period. Federated Hermes Inc. owned about 0.31% of NETGEAR worth $2,461,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in shares of NETGEAR by 5.3% during the 3rd quarter. Franklin Resources Inc. now owns 42,673 shares of the communications equipment provider's stock valued at $883,000 after acquiring an additional 2,166 shares in the last quarter. New York State Common Retirement Fund raised its position in NETGEAR by 49.3% in the fourth quarter. New York State Common Retirement Fund now owns 7,566 shares of the communications equipment provider's stock valued at $211,000 after purchasing an additional 2,500 shares during the period. New York State Teachers Retirement System acquired a new position in shares of NETGEAR during the fourth quarter worth about $72,000. R Squared Ltd acquired a new position in shares of NETGEAR during the fourth quarter worth about $72,000. Finally, LPL Financial LLC boosted its position in shares of NETGEAR by 26.3% in the fourth quarter. LPL Financial LLC now owns 14,740 shares of the communications equipment provider's stock worth $411,000 after buying an additional 3,070 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

NETGEAR Stock Down 1.3 %

Shares of NETGEAR stock traded down $0.30 during trading hours on Wednesday, hitting $22.19. 276,795 shares of the company's stock traded hands, compared to its average volume of 325,781. NETGEAR, Inc. has a twelve month low of $10.48 and a twelve month high of $31.55. The company has a market cap of $640.60 million, a PE ratio of 55.48 and a beta of 1.03. The stock has a 50 day simple moving average of $24.78 and a 200-day simple moving average of $24.67.

NETGEAR (NASDAQ:NTGR - Get Free Report) last announced its earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.24). NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. As a group, equities research analysts predict that NETGEAR, Inc. will post -1.84 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Charles J. Prober sold 10,929 shares of NETGEAR stock in a transaction dated 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 transaction, the chief executive officer now directly owns 507,763 shares in the company, valued at approximately $13,526,806.32. This trade represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Murray Bryan sold 3,848 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $23.92, for a total value of $92,044.16. Following the sale, the chief financial officer now owns 193,032 shares in the company, valued at $4,617,325.44. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NTGR has been the topic of several analyst reports. Raymond James raised their target price on NETGEAR from $22.00 to $29.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. StockNews.com lowered shares of NETGEAR from a "buy" rating to a "hold" rating in a research note on Friday, March 21st.

About NETGEAR

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.