NETGEAR, Inc. (NASDAQ:NTGR) Receives Average Rating of “Buy” from Brokerages
Shares of NETGEAR, Inc. (NASDAQ:NTGR) have received a consensus rating of “Buy” from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $62.69.
Several brokerages recently commented on NTGR. Zacks Investment Research raised shares of NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Global Equities Research reaffirmed a “buy” rating and set a $85.00 price objective on shares of NETGEAR in a research note on Tuesday, June 13th. Finally, Off Wall Street reaffirmed a “sell” rating and set a $36.00 price objective on shares of NETGEAR in a research note on Monday, March 27th.
Shares of NETGEAR (NTGR) traded up 0.45% during mid-day trading on Monday, hitting $44.30. 544,421 shares of the stock were exchanged. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 19.97 and a beta of 1.53. The stock’s 50-day moving average is $43.96 and its 200-day moving average is $49.58. NETGEAR has a 52 week low of $41.50 and a 52 week high of $60.82.
NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings data on Wednesday, April 26th. The communications equipment provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.61 by $0.03. The company had revenue of $323.70 million during the quarter, compared to analysts’ expectations of $309.48 million. NETGEAR had a net margin of 5.61% and a return on equity of 11.30%. NETGEAR’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.74 earnings per share. Analysts forecast that NETGEAR will post $2.61 earnings per share for the current fiscal year.
NETGEAR announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 26th that authorizes the company to buyback 3,000,000 shares. This buyback authorization authorizes the communications equipment provider to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other NETGEAR news, CEO Patrick Cs Lo sold 9,900 shares of NETGEAR stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $46.79, for a total transaction of $463,221.00. Following the completion of the sale, the chief executive officer now directly owns 155,418 shares in the company, valued at $7,272,008.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Patrick J. Collins III sold 702 shares of NETGEAR stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $46.67, for a total transaction of $32,762.34. Following the sale, the senior vice president now owns 16,909 shares of the company’s stock, valued at $789,143.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,174 shares of company stock valued at $2,016,086. 6.20% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Gagnon Securities LLC raised its stake in shares of NETGEAR by 56.5% in the second quarter. Gagnon Securities LLC now owns 37,366 shares of the communications equipment provider’s stock valued at $1,610,000 after buying an additional 13,486 shares during the last quarter. Aperio Group LLC raised its stake in shares of NETGEAR by 8.5% in the second quarter. Aperio Group LLC now owns 11,602 shares of the communications equipment provider’s stock valued at $500,000 after buying an additional 907 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of NETGEAR by 0.5% in the second quarter. Nisa Investment Advisors LLC now owns 30,030 shares of the communications equipment provider’s stock valued at $1,289,000 after buying an additional 150 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of NETGEAR by 77.0% in the second quarter. State of Alaska Department of Revenue now owns 6,462 shares of the communications equipment provider’s stock valued at $278,000 after buying an additional 2,812 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of NETGEAR by 47.9% in the first quarter. Nuveen Asset Management LLC now owns 336,138 shares of the communications equipment provider’s stock valued at $16,656,000 after buying an additional 108,912 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.
NETGEAR Company Profile
NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.
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