Netgear Inc. (NTGR) Upgraded to Strong-Buy by Vetr Inc.
Netgear Inc. (NASDAQ:NTGR) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday. The firm currently has a $60.73 target price on the stock. Vetr‘s target price would indicate a potential upside of 12.26% from the stock’s current price.
Several other research firms also recently commented on NTGR. Citigroup Inc. downgraded 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. Wunderlich boosted their target price on shares of Netgear from $58.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, September 8th. BWS Financial downgraded shares of Netgear from a “buy” rating to a “hold” rating and lowered their target price for the stock from $64.00 to $60.00 in a report on Monday, October 3rd. Rosenblatt Securities downgraded 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. Finally, Zacks Investment Research downgraded shares of Netgear from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 29th. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $53.36.
Netgear (NASDAQ:NTGR) traded down 2.10% during trading on Tuesday, hitting $54.10. 462,560 shares of the company traded hands. The company’s 50 day moving average is $57.55 and its 200-day moving average is $48.78. The stock has a market capitalization of $1.77 billion, a PE ratio of 25.74 and a beta of 1.92. Netgear has a 52 week low of $31.65 and a 52 week high of $60.82.
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Netgear (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.12. The business earned $311.66 million during the quarter, compared to analyst estimates of $298.87 million. Netgear had a net margin of 5.25% and a return on equity of 12.06%. The company’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 earnings per share. Analysts predict that Netgear will post $2.96 earnings per share for the current year.
In other news, SVP Michael F. Falcon sold 521 shares of the company’s stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $49.75, for a total value of $25,919.75. Following the transaction, the senior vice president now directly owns 35,870 shares in the company, valued at $1,784,532.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Christine Marie Gorjanc sold 7,329 shares of the company’s stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $50.07, for a total transaction of $366,963.03. Following the completion of the transaction, the chief financial officer now owns 80,404 shares in the company, valued at $4,025,828.28. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of NTGR. Nisa Investment Advisors LLC boosted its position in Netgear by 0.5% in the second quarter. Nisa Investment Advisors LLC now owns 30,350 shares of the company’s stock worth $1,443,000 after buying an additional 150 shares during the last quarter. PineBridge Investments L.P. boosted its position in Netgear by 4.3% in the second quarter. PineBridge Investments L.P. now owns 4,130 shares of the company’s stock worth $197,000 after buying an additional 169 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in Netgear by 3.3% in the second quarter. O Shaughnessy Asset Management LLC now owns 6,198 shares of the company’s stock worth $295,000 after buying an additional 199 shares during the last quarter. Clinton Group Inc. boosted its position in Netgear by 2.8% in the second quarter. Clinton Group Inc. now owns 10,384 shares of the company’s stock worth $494,000 after buying an additional 281 shares during the last quarter. Finally, Suntrust Banks Inc. boosted its position in Netgear by 5.7% in the second quarter. Suntrust Banks Inc. now owns 5,368 shares of the company’s stock worth $255,000 after buying an additional 289 shares during the last quarter. Hedge funds and other institutional investors own 99.48% of the company’s stock.
Netgear Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
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