Y Intercept Hong Kong Ltd Lowers Position in NETGEAR, Inc. $NTGR

Y Intercept Hong Kong Ltd cut its stake in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 48.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 38,097 shares of the communications equipment provider’s stock after selling 35,337 shares during the period. Y Intercept Hong Kong Ltd’s holdings in NETGEAR were worth $1,234,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NTGR. Pertento Partners LLP raised its holdings in shares of NETGEAR by 6.0% during the 2nd quarter. Pertento Partners LLP now owns 1,691,607 shares of the communications equipment provider’s stock valued at $49,175,000 after buying an additional 95,955 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of NETGEAR by 0.3% during the second quarter. Acadian Asset Management LLC now owns 1,079,096 shares of the communications equipment provider’s stock worth $31,354,000 after purchasing an additional 3,114 shares during the period. American Century Companies Inc. lifted its holdings in NETGEAR by 4.1% in the 2nd quarter. American Century Companies Inc. now owns 910,212 shares of the communications equipment provider’s stock worth $26,460,000 after buying an additional 35,873 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in NETGEAR by 10.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 690,981 shares of the communications equipment provider’s stock worth $20,087,000 after acquiring an additional 63,398 shares during the period. Finally, Tenzing Global Management LLC lifted its position in shares of NETGEAR by 4.3% in the 2nd quarter. Tenzing Global Management LLC now owns 600,000 shares of the communications equipment provider’s stock worth $17,442,000 after purchasing an additional 25,000 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other NETGEAR news, insider Pramod Badjate sold 4,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $24.60, for a total value of $98,400.00. Following the sale, the insider owned 155,361 shares in the company, valued at $3,821,880.60. The trade was a 2.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Graeme Mclindin sold 1,205 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $34.26, for a total value of $41,283.30. Following the completion of the sale, the vice president owned 30,808 shares in the company, valued at $1,055,482.08. This represents a 3.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.30% of the stock is currently owned by insiders.

NETGEAR Stock Performance

NTGR opened at $20.91 on Friday. The firm’s fifty day moving average is $24.05 and its 200 day moving average is $27.06. NETGEAR, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $36.86. The stock has a market cap of $593.84 million, a price-to-earnings ratio of -22.98 and a beta of 1.14.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a research note on Monday, December 29th. Zacks Research downgraded shares of NETGEAR from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Wall Street Zen downgraded NETGEAR from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Stifel Nicolaus upped their target price on shares of NETGEAR from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Finally, Raymond James Financial boosted their target price on shares of NETGEAR from $29.00 to $37.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Two equities 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $37.33.

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.