Netgear Inc. (NTGR) SVP Sells $274,350.00 in Stock
Netgear Inc. (NASDAQ:NTGR) SVP Michael F. Falcon sold 5,000 shares of the company’s stock in a transaction dated Tuesday, October 11th. The stock was sold at an average price of $54.87, for a total transaction of $274,350.00. Following the transaction, the senior vice president now owns 32,349 shares of the company’s stock, valued at approximately $1,774,989.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Netgear Inc. (NASDAQ:NTGR) traded down 1.28% during mid-day trading on Wednesday, hitting $53.41. 319,149 shares of the stock traded hands. The firm’s 50-day moving average is $57.45 and its 200-day moving average is $48.81. Netgear Inc. has a 12-month low of $31.65 and a 12-month high of $60.82. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 25.41 and a beta of 1.92.
Netgear (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.12. The firm had revenue of $311.66 million for the quarter, compared to the consensus estimate of $298.87 million. Netgear had a net margin of 5.25% and a return on equity of 12.06%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.29 earnings per share. Equities research analysts expect that Netgear Inc. will post $2.96 EPS for the current year.
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Several research firms recently weighed in on NTGR. BWS Financial downgraded shares of Netgear from a “buy” rating to a “hold” rating and reduced their price target for the stock from $64.00 to $60.00 in a research report on Monday, October 3rd. Rosenblatt Securities restated a “neutral” rating and set a $61.00 price target (up previously from $55.00) on shares of Netgear in a research report on Wednesday, September 28th. Zacks Investment Research downgraded shares of Netgear from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 28th. Vetr upgraded shares of Netgear from a “hold” rating to a “buy” rating and set a $61.09 price objective for the company in a report on Wednesday, September 21st. Finally, Wunderlich increased their price objective on shares of Netgear from $58.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, September 8th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Netgear has a consensus rating of “Hold” and an average target price of $53.36.
A number of hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in Netgear by 949.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,791 shares of the company’s stock worth $133,000 after buying an additional 2,525 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Netgear by 33.6% in the first quarter. Royal Bank of Canada now owns 3,505 shares of the company’s stock worth $141,000 after buying an additional 882 shares during the last quarter. Acrospire Investment Management LLC acquired a new position in shares of Netgear during the first quarter worth about $174,000. PineBridge Investments L.P. boosted its position in shares of 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. Finally, Amalgamated Bank acquired a new position in shares of Netgear during the second quarter worth about $208,000. 99.48% of the stock is currently owned by hedge funds and other institutional investors.
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.
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