NETGEAR, Inc. (NTGR) Receives Consensus Recommendation of “Hold” from Brokerages
NETGEAR, Inc. (NASDAQ:NTGR) has earned a consensus rating of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $62.69.
A number of analysts have recently issued reports on NTGR shares. Global Equities Research restated a “buy” rating and set a $85.00 price objective on shares of NETGEAR in a research report on Tuesday, June 13th. Zacks Investment Research upgraded NETGEAR from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 28th.
In related news, Director Barbara Vaughn Scherer sold 2,394 shares of the business’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $44.40, for a total value of $106,293.60. Following the sale, the director now owns 16,825 shares of the company’s stock, valued at approximately $747,030. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael A. Werdann sold 8,153 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $43.01, for a total value of $350,660.53. Following the completion of the sale, the senior vice president now directly owns 30,092 shares in the company, valued at approximately $1,294,256.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,228 shares of company stock worth $2,976,861. 6.20% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in NTGR. Fox Run Management L.L.C. bought a new stake in shares of NETGEAR during the first quarter valued at approximately $357,000. Louisiana State Employees Retirement System raised its position in NETGEAR by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 13,400 shares of the communications equipment provider’s stock worth $664,000 after buying an additional 100 shares in the last quarter. State of Alaska Department of Revenue raised its position in NETGEAR by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 3,650 shares of the communications equipment provider’s stock worth $180,000 after buying an additional 60 shares in the last quarter. Navellier & Associates Inc raised its position in NETGEAR by 2.6% in the first quarter. Navellier & Associates Inc now owns 16,905 shares of the communications equipment provider’s stock worth $838,000 after buying an additional 421 shares in the last quarter. Finally, Profund Advisors LLC raised its position in NETGEAR by 4.0% in the first quarter. Profund Advisors LLC now owns 23,586 shares of the communications equipment provider’s stock worth $1,169,000 after buying an additional 918 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.
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Shares of NETGEAR (NASDAQ NTGR) traded up 0.89% during trading on Friday, reaching $45.50. The company had a trading volume of 207,504 shares. NETGEAR has a 12 month low of $41.50 and a 12 month high of $60.82. The stock has a 50 day moving average price of $45.36 and a 200 day moving average price of $48.32. The firm has a market capitalization of $1.44 billion, a PE ratio of 20.88 and a beta of 1.55.
NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, July 26th. The communications equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. The business 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%. NETGEAR’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.72 earnings per share. On average, equities research analysts forecast that NETGEAR will post $2.74 EPS for the current year.
NETGEAR announced that its Board of Directors has approved a stock buyback plan on Wednesday, April 26th that authorizes the company to repurchase 3,000,000 outstanding shares. This repurchase authorization authorizes the communications equipment provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
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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