NETGEAR, Inc. $NTGR Shares Sold by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. lessened its holdings in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 27.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 147,985 shares of the communications equipment provider’s stock after selling 54,945 shares during the quarter. Hillsdale Investment Management Inc. owned about 0.52% of NETGEAR worth $3,630,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Allianz Asset Management GmbH increased its stake in shares of NETGEAR by 169.0% during the third quarter. Allianz Asset Management GmbH now owns 109,322 shares of the communications equipment provider’s stock worth $3,541,000 after buying an additional 68,683 shares during the period. Leuthold Group LLC purchased a new stake in shares of NETGEAR during the third quarter worth approximately $3,309,000. Cinctive Capital Management LP purchased a new stake in shares of NETGEAR during the third quarter worth approximately $6,433,000. Sierra Summit Advisors LLC purchased a new stake in shares of NETGEAR during the third quarter worth approximately $1,079,000. Finally, First Eagle Investment Management LLC increased its stake in shares of NETGEAR by 27.6% during the third quarter. First Eagle Investment Management LLC now owns 150,393 shares of the communications equipment provider’s stock worth $4,871,000 after buying an additional 32,500 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NTGR. Stifel Nicolaus set a $36.00 target price on shares of NETGEAR in a research note on Thursday, February 5th. Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a research note on Friday, March 27th. Wall Street Zen upgraded shares of NETGEAR from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Zacks Research upgraded shares of NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. 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 MarketBeat, the company has an average rating of “Hold” and a consensus target price of $36.00.

Insider Buying and Selling

In other NETGEAR news, insider Pramod Badjate sold 3,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $25.47, for a total value of $76,410.00. Following the transaction, the insider directly owned 165,513 shares in the company, valued at $4,215,616.11. This represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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. 3.10% of the stock is owned by corporate insiders.

NETGEAR Price Performance

Shares of NETGEAR stock opened at $25.99 on Monday. The firm has a market capitalization of $697.57 million, a P/E ratio of -29.53 and a beta of 1.17. NETGEAR, Inc. has a 52 week low of $19.00 and a 52 week high of $36.86. The firm’s 50 day moving average is $24.63 and its two-hundred day moving average is $23.68.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.14. The company had revenue of $158.82 million for the quarter, compared to analyst estimates of $152.49 million. NETGEAR had a negative net margin of 3.58% and a negative return on equity of 2.71%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.02 earnings per share. As a group, research analysts expect that NETGEAR, Inc. will post -0.59 earnings per share for the current fiscal year.

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.