Michael F. Falcon Sells 1,042 Shares of NETGEAR, Inc. (NASDAQ:NTGR) Stock
NETGEAR, Inc. (NASDAQ:NTGR) SVP Michael F. Falcon sold 1,042 shares of NETGEAR stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $47.85, for a total value of $49,859.70. Following the completion of the sale, the senior vice president now owns 39,107 shares in the company, valued at $1,871,269.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
NETGEAR, Inc. (NTGR) traded up 2.05% on Monday, hitting $47.40. The stock had a trading volume of 417,336 shares. The stock’s 50-day moving average is $44.46 and its 200 day moving average is $48.97. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 21.75 and a beta of 1.55. NETGEAR, Inc. has a 1-year low of $41.50 and a 1-year high of $60.82.
NETGEAR (NASDAQ:NTGR) last released its earnings results on Wednesday, July 26th. The communications equipment provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. The firm had revenue of $330.72 million for the quarter, compared to analysts’ expectations of $324.64 million. NETGEAR had a return on equity of 10.67% and a net margin of 5.42%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. On average, equities research analysts predict that NETGEAR, Inc. will post $2.68 earnings per share for the current fiscal year.
NETGEAR declared that its board has approved a share repurchase plan on Wednesday, April 26th that allows the company to buyback 3,000,000 outstanding shares. This buyback authorization allows the communications equipment provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bowling Portfolio Management LLC boosted its position in shares of NETGEAR by 15.7% in the first quarter. Bowling Portfolio Management LLC now owns 13,918 shares of the communications equipment provider’s stock valued at $690,000 after buying an additional 1,891 shares during the period. Wells Fargo & Company MN boosted its position in shares of NETGEAR by 33.5% in the first quarter. Wells Fargo & Company MN now owns 715,202 shares of the communications equipment provider’s stock valued at $35,438,000 after buying an additional 179,283 shares during the period. Strs Ohio boosted its position in shares of NETGEAR by 368.7% in the first quarter. Strs Ohio now owns 91,400 shares of the communications equipment provider’s stock valued at $4,528,000 after buying an additional 71,900 shares during the period. Sawgrass Asset Management LLC boosted its position in shares of NETGEAR by 121.2% in the first quarter. Sawgrass Asset Management LLC now owns 19,495 shares of the communications equipment provider’s stock valued at $966,000 after buying an additional 10,680 shares during the period. Finally, First Mercantile Trust Co. boosted its position in shares of NETGEAR by 9.1% in the first quarter. First Mercantile Trust Co. now owns 5,370 shares of the communications equipment provider’s stock valued at $266,000 after buying an additional 450 shares during the period. 99.52% of the stock is currently owned by hedge funds and other institutional investors.
NTGR has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded NETGEAR from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. Global Equities Research reiterated a “buy” rating and issued a $85.00 price objective on shares of NETGEAR in a research report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $62.48.
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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