Hara Capital LLC Acquires Shares of 62,340 NETGEAR, Inc. $NTGR

Hara Capital LLC acquired a new stake in NETGEAR, Inc. (NASDAQ:NTGR) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 62,340 shares of the communications equipment provider’s stock, valued at approximately $1,456,000.

A number of other hedge funds have also modified their holdings of NTGR. Comerica Bank increased its holdings in shares of NETGEAR by 64.8% in the 3rd quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock valued at $35,000 after acquiring an additional 429 shares during the period. Cetera Investment Advisers grew its position in NETGEAR by 6.4% during the 1st quarter. Cetera Investment Advisers now owns 11,996 shares of the communications equipment provider’s stock worth $262,000 after purchasing an additional 725 shares during the last quarter. Tower Research Capital LLC TRC grew its position in NETGEAR by 35.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the communications equipment provider’s stock worth $101,000 after purchasing an additional 904 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in NETGEAR in the fourth quarter valued at $25,000. Finally, Rhumbline Advisers increased its stake in NETGEAR by 2.3% in the second quarter. Rhumbline Advisers now owns 51,678 shares of the communications equipment provider’s stock valued at $1,502,000 after purchasing an additional 1,140 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

NETGEAR Trading Down 2.3%

NASDAQ:NTGR opened at $21.10 on Friday. The firm has a market cap of $573.50 million, a P/E ratio of -22.69 and a beta of 1.20. The stock’s 50 day simple moving average is $23.29 and its 200-day simple moving average is $23.34. NETGEAR, Inc. has a 12-month low of $19.00 and a 12-month high of $36.86.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings results on Thursday, August 6th. The communications equipment provider reported $0.16 EPS for the quarter, topping the consensus estimate 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 business had revenue of $168.56 million during the quarter, compared to analysts’ expectations of $157.80 million. During the same quarter in the prior year, the business earned $0.06 earnings per share. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. Research analysts forecast that NETGEAR, Inc. will post -0.52 EPS for the current fiscal year.

Insider Activity

In other NETGEAR news, Director Laura Durr sold 2,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $25.94, for a total transaction of $51,880.00. Following the completion of the transaction, the director owned 43,059 shares in the company, valued at approximately $1,116,950.46. This represents a 4.44% decrease in their position. The sale was disclosed in a 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. Also, insider Pramod Badjate sold 3,000 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $23.88, for a total transaction of $71,640.00. Following the completion of the sale, the insider owned 154,073 shares of the company’s stock, valued at $3,679,263.24. This trade represents a 1.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 12,085 shares of company stock valued at $313,933. 3.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research note 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 issued a Sell rating to the stock. According to MarketBeat, NETGEAR presently has an average rating of “Hold” and a consensus price target of $36.50.

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.