Michael F. Falcon Sells 1,042 Shares of NETGEAR, Inc. (NTGR) Stock
NETGEAR, Inc. (NASDAQ:NTGR) SVP Michael F. Falcon sold 1,042 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $48.15, for a total transaction of $50,172.30. Following the sale, the senior vice president now owns 39,107 shares of the company’s stock, valued at approximately $1,883,002.05. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
NETGEAR, Inc. (NASDAQ:NTGR) traded down 1.46% during mid-day trading on Thursday, reaching $47.10. 247,215 shares of the company traded hands. The stock has a market capitalization of $1.49 billion, a PE ratio of 21.62 and a beta of 1.54. NETGEAR, Inc. has a 52-week low of $41.50 and a 52-week high of $60.82. The stock has a 50-day moving average of $46.65 and a 200 day moving average of $47.41.
NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, July 26th. The communications equipment provider reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.06. The company had revenue of $330.72 million for the quarter, compared to the consensus estimate of $324.64 million. NETGEAR had a net margin of 5.42% and a return on equity of 10.67%. NETGEAR’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 earnings per share. Equities research analysts expect that NETGEAR, Inc. will post $2.74 earnings per share for the current year.
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Several analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of NETGEAR from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Global Equities Research reiterated a “buy” rating and issued a $85.00 target price on shares of NETGEAR in a report on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. NETGEAR has a consensus rating of “Hold” and an average price target of $62.48.
A number of large investors have recently bought and sold shares of NTGR. BlackRock Inc. raised its stake in NETGEAR by 38,710.4% during the first quarter. BlackRock Inc. now owns 4,184,534 shares of the communications equipment provider’s stock worth $207,344,000 after purchasing an additional 4,173,752 shares during the period. Royce & Associates LP raised its stake in NETGEAR by 43,220.6% during the second quarter. Royce & Associates LP now owns 779,771 shares of the communications equipment provider’s stock worth $33,608,000 after purchasing an additional 777,971 shares during the period. Bank of New York Mellon Corp raised its stake in NETGEAR by 54.8% during the first quarter. Bank of New York Mellon Corp now owns 1,291,319 shares of the communications equipment provider’s stock worth $63,985,000 after purchasing an additional 456,929 shares during the period. Alliancebernstein L.P. raised its stake in NETGEAR by 28.2% during the second quarter. Alliancebernstein L.P. now owns 1,417,760 shares of the communications equipment provider’s stock worth $61,105,000 after purchasing an additional 311,735 shares during the period. Finally, Marshall Wace North America L.P. purchased a new position in NETGEAR during the second quarter worth approximately $12,722,000. 98.85% of the stock is currently owned by institutional investors.
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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