NetGear, Inc. (NTGR) Insider Mark G. Merrill Sells 3,000 Shares
NetGear, Inc. (NASDAQ:NTGR) insider Mark G. Merrill sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $46.55, for a total value of $139,650.00. Following the transaction, the insider now directly owns 32,534 shares of the company’s stock, valued at approximately $1,514,457.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of NetGear, Inc. (NTGR) remained flat at $47.75 on Tuesday. The company had a trading volume of 261,894 shares. The firm’s 50-day moving average is $47.03 and its 200-day moving average is $46.92. NetGear, Inc. has a 52-week low of $41.50 and a 52-week high of $60.82. The company has a market capitalization of $1.51 billion, a P/E ratio of 21.91 and a beta of 1.54.
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, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.06. NetGear had a net margin of 4.41% and a return on equity of 7.39%. The firm had revenue of $330.72 million during the quarter, compared to the consensus estimate of $324.64 million. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. On average, equities analysts forecast that NetGear, Inc. will post $2.74 EPS for the current fiscal year.
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Several institutional investors have recently bought and sold shares of NTGR. Great West Life Assurance Co. Can raised its stake in shares of NetGear by 7.3% during the first quarter. Great West Life Assurance Co. Can now owns 46,187 shares of the communications equipment provider’s stock valued at $2,285,000 after acquiring an additional 3,130 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of NetGear by 0.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 20,631 shares of the communications equipment provider’s stock valued at $1,022,000 after acquiring an additional 57 shares in the last quarter. American Century Companies Inc. raised its stake in shares of NetGear by 4.5% during the first quarter. American Century Companies Inc. now owns 138,500 shares of the communications equipment provider’s stock valued at $6,863,000 after acquiring an additional 5,913 shares in the last quarter. US Bancorp DE raised its stake in shares of NetGear by 9.2% during the first quarter. US Bancorp DE now owns 3,243 shares of the communications equipment provider’s stock valued at $161,000 after acquiring an additional 272 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of 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 valued at $63,985,000 after acquiring an additional 456,929 shares in the last quarter. 98.85% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have commented on the company. Zacks Investment Research lowered NetGear from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Global Equities Research reaffirmed a “buy” rating and set a $85.00 price target on shares of NetGear in a research report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $61.97.
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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