Netgear Inc. (NTGR) Director Sells $51,550.00 in Stock
Netgear Inc. (NASDAQ:NTGR) Director Miller Joycelyn Carter sold 1,000 shares of the stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $51.55, for a total value of $51,550.00. Following the sale, the director now directly owns 9,826 shares in the company, valued at $506,530.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Netgear (NASDAQ:NTGR) last posted its earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.12. Netgear had a net margin of 5.25% and a return on equity of 12.06%. The firm earned $311.66 million during the quarter, compared to the consensus estimate of $298.87 million. During the same quarter last year, the firm earned $0.29 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis.
Several brokerages have weighed in on NTGR. Zacks Investment Research downgraded Netgear from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Vetr raised Netgear from a “hold” rating to a “buy” rating and set a $60.73 price target on the stock in a research report on Tuesday, October 4th. Rosenblatt Securities downgraded Netgear from a “buy” rating to a “neutral” rating and set a $47.50 price target on the stock. in a research report on Tuesday, July 12th. BWS Financial increased their price target on Netgear from $50.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, Wunderlich increased their target price on shares of Netgear from $58.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, September 8th. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $53.36.
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Institutional investors have recently bought and sold shares of the company. First Mercantile Trust Co. increased its position in Netgear by 196.3% in the third quarter. First Mercantile Trust Co. now owns 5,630 shares of the company’s stock valued at $341,000 after buying an additional 3,730 shares during the period. Macquarie Group Ltd. increased its position in Netgear by 27.4% in the second quarter. Macquarie Group Ltd. now owns 293,992 shares of the company’s stock valued at $13,976,000 after buying an additional 63,259 shares during the period. Mason Street Advisors LLC acquired a new position in Netgear during the second quarter valued at approximately $303,000. Royal Bank of Canada increased its position in Netgear by 63.8% in the second quarter. Royal Bank of Canada now owns 5,740 shares of the company’s stock valued at $273,000 after buying an additional 2,235 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in Netgear by 8.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 339,175 shares of the company’s stock valued at $16,125,000 after buying an additional 26,881 shares during the period. Institutional investors and hedge funds own 99.37% 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.
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