Hillsdale Investment Management Inc. Reduces Stock Holdings in NETGEAR, Inc. $NTGR

Hillsdale Investment Management Inc. reduced its stake in NETGEAR, Inc. (NASDAQ:NTGR) by 27.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 147,985 shares of the communications equipment provider’s stock after selling 54,945 shares during the period. Hillsdale Investment Management Inc.’s holdings in NETGEAR were worth $3,630,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Geode Capital Management LLC grew its position in shares of NETGEAR by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 703,791 shares of the communications equipment provider’s stock worth $17,267,000 after acquiring an additional 11,279 shares during the last quarter. Royce & Associates LP purchased a new position in shares of NETGEAR during the fourth quarter worth approximately $2,053,000. IFP Advisors Inc grew its position in shares of NETGEAR by 161.7% during the fourth quarter. IFP Advisors Inc now owns 2,243 shares of the communications equipment provider’s stock worth $55,000 after acquiring an additional 1,386 shares during the last quarter. Leuthold Group LLC grew its position in shares of NETGEAR by 56.1% during the fourth quarter. Leuthold Group LLC now owns 159,432 shares of the communications equipment provider’s stock worth $3,911,000 after acquiring an additional 57,266 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its position in shares of NETGEAR by 24.2% during the fourth quarter. First Eagle Investment Management LLC now owns 186,777 shares of the communications equipment provider’s stock worth $4,582,000 after acquiring an additional 36,384 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NETGEAR news, insider Pramod Badjate sold 3,000 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $25.47, for a total value of $76,410.00. Following the completion of the sale, the insider owned 165,513 shares of the company’s stock, valued at approximately $4,215,616.11. This trade represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Company insiders own 3.10% of the company’s stock.

NETGEAR Price Performance

NASDAQ:NTGR opened at $25.99 on Monday. The firm’s fifty day moving average price is $24.63 and its 200 day moving average price is $23.68. NETGEAR, Inc. has a 1-year low of $19.00 and a 1-year high of $36.86. The firm has a market cap of $697.57 million, a price-to-earnings ratio of -29.53 and a beta of 1.17.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on NTGR. Zacks Research upgraded shares of NETGEAR from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Stifel Nicolaus set a $36.00 target price on shares of NETGEAR in a research report on Thursday, February 5th. Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a research report on Friday, March 27th. Finally, Wall Street Zen upgraded shares of NETGEAR from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, NETGEAR currently has an average rating of “Hold” and a consensus price target of $36.00.

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.