Netgear Inc. (NTGR) Raised to Buy at Vetr Inc.
Netgear Inc. (NASDAQ:NTGR) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage presently has a $61.09 target price on the stock. Vetr‘s price target would suggest a potential upside of 4.57% from the stock’s previous close.
NTGR has been the topic of a number of other reports. Wunderlich lifted their target price on shares of Netgear from $58.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, September 8th. Zacks Investment Research cut shares of Netgear from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 29th. Citigroup Inc. cut shares of Netgear to a “neutral” rating and set a $47.50 target price on the stock. in a report on Tuesday, July 12th. They noted that the move was a valuation call. BWS Financial lifted their target price on shares of Netgear from $50.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Finally, Rosenblatt Securities cut shares of Netgear from a “buy” rating to a “neutral” rating and set a $47.50 target price on the stock. in a report on Tuesday, July 12th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $52.34.
Shares of Netgear (NASDAQ:NTGR) opened at 58.42 on Wednesday. The stock has a 50 day moving average of $56.13 and a 200-day moving average of $46.90. Netgear has a 12 month low of $28.52 and a 12 month high of $59.40. The firm has a market capitalization of $1.91 billion, a PE ratio of 27.79 and a beta of 1.84.
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Netgear (NASDAQ:NTGR) last announced its earnings results on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.12. The business had revenue of $311.66 million for the quarter, compared to analysts’ expectations of $298.87 million. Netgear had a net margin of 5.25% and a return on equity of 12.06%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 EPS. On average, equities research analysts anticipate that Netgear will post $2.95 EPS for the current fiscal year.
In other Netgear news, SVP Michael F. Falcon sold 16,509 shares of the business’s stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $48.00, for a total transaction of $792,432.00. Following the sale, the senior vice president now directly owns 52,772 shares in the company, valued at approximately $2,533,056. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jef Graham sold 8,333 shares of the business’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $45.12, for a total transaction of $375,984.96. Following the sale, the director now owns 4,394 shares in the company, valued at $198,257.28. The disclosure for this sale can be found here. Company insiders own 5.40% of the company’s stock.
Large investors have recently modified their holdings of the company. FMR LLC raised its stake in shares of Netgear by 39.7% in the second quarter. FMR LLC now owns 2,866,848 shares of the company’s stock valued at $136,290,000 after buying an additional 814,166 shares during the last quarter. Riverhead Capital Management LLC raised its stake in shares of Netgear by 5,182.0% in the second quarter. Riverhead Capital Management LLC now owns 439,516 shares of the company’s stock valued at $10,807,000 after buying an additional 431,195 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Netgear during the second quarter valued at approximately $14,271,000. Rothschild Asset Management Inc. bought a new stake in shares of Netgear during the second quarter valued at approximately $13,343,000. Finally, Prudential Financial Inc. raised its stake in shares of Netgear by 77.6% in the first quarter. Prudential Financial Inc. now owns 498,537 shares of the company’s stock valued at $20,126,000 after buying an additional 217,800 shares during the last quarter. Institutional investors own 94.80% of the company’s stock.
NETGEAR, Inc is a global networking company. The Company’s product line consists of devices, such as network attached storage, Internet protocol security cameras, and home automation devices and services. Its segments include retail, commercial and service provider. The retail business unit consists of home networking, home video security, storage and digital media products.
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