Barbara Vaughn Scherer Sells 1,000 Shares of NETGEAR, Inc. (NTGR) Stock
NETGEAR, Inc. (NASDAQ:NTGR) Director Barbara Vaughn Scherer sold 1,000 shares of the firm’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $52.00, for a total value of $52,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
NETGEAR, Inc. (NTGR) traded down 0.57% during midday trading on Wednesday, reaching $51.90. The company’s stock had a trading volume of 587,163 shares. NETGEAR, Inc. has a one year low of $41.50 and a one year high of $59.92. The stock’s 50 day moving average price is $48.06 and its 200-day moving average price is $46.43. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 23.81 and a beta of 1.53.
NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, July 26th. The communications equipment provider reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.06. The company had revenue of $330.72 million during 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 quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 EPS. On average, analysts forecast that NETGEAR, Inc. will post $2.73 EPS for the current fiscal year.
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A number of brokerages recently commented on NTGR. Zacks Investment Research cut NETGEAR from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Global Equities Research reaffirmed a “buy” rating and issued a $85.00 target price on shares of NETGEAR in a report on Tuesday, June 13th. Finally, BWS Financial raised NETGEAR from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Monday. Two analysts have rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. NETGEAR has an average rating of “Buy” and an average price target of $62.13.
Hedge funds have recently added to or reduced their stakes in the business. Brandes Investment Partners LP acquired a new stake in NETGEAR in the 2nd quarter valued at about $2,293,000. SG Americas Securities LLC raised its holdings in NETGEAR by 55.0% in the 1st quarter. SG Americas Securities LLC now owns 7,646 shares of the communications equipment provider’s stock valued at $379,000 after acquiring an additional 2,714 shares during the last quarter. Eaton Vance Management raised its holdings in NETGEAR by 193.6% in the 2nd quarter. Eaton Vance Management now owns 271,238 shares of the communications equipment provider’s stock valued at $11,690,000 after acquiring an additional 178,855 shares during the last quarter. Morgan Stanley raised its holdings in NETGEAR by 62.8% in the 1st quarter. Morgan Stanley now owns 298,144 shares of the communications equipment provider’s stock valued at $14,772,000 after acquiring an additional 115,015 shares during the last quarter. Finally, Tudor Investment Corp ET AL raised its holdings in NETGEAR by 5.9% in the 1st quarter. Tudor Investment Corp ET AL now owns 9,000 shares of the communications equipment provider’s stock valued at $446,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 98.89% of the company’s stock.
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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