NETGEAR, Inc. (NTGR) SVP Michael A. Werdann Sells 1,500 Shares
NETGEAR, Inc. (NASDAQ:NTGR) SVP Michael A. Werdann sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $51.70, for a total transaction of $77,550.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
NETGEAR, Inc. (NASDAQ NTGR) traded down 0.57% during midday trading on Wednesday, reaching $51.90. 587,163 shares of the company’s stock traded hands. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 23.81 and a beta of 1.53. The company’s 50-day moving average price is $48.06 and its 200 day moving average price is $46.43. NETGEAR, Inc. has a 52 week low of $41.50 and a 52 week high of $59.92.
NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings data on Wednesday, July 26th. The communications equipment provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.06. The firm had revenue of $330.72 million for the quarter, compared to analyst estimates of $324.64 million. NETGEAR had a net margin of 5.42% and a return on equity of 10.67%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 earnings per share. On average, equities research analysts expect that NETGEAR, Inc. will post $2.73 earnings per share for the current year.
Several equities analysts recently commented on NTGR shares. 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. Zacks Investment Research downgraded shares of NETGEAR from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, BWS Financial upgraded shares of NETGEAR from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $62.13.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ardsley Advisory Partners bought a new position in NETGEAR during the second quarter valued at approximately $517,000. Public Employees Retirement System of Ohio raised its position in NETGEAR by 0.3% during the second quarter. Public Employees Retirement System of Ohio now owns 44,772 shares of the communications equipment provider’s stock valued at $1,930,000 after acquiring an additional 135 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in NETGEAR during the second quarter valued at approximately $302,000. State Street Corp raised its position in NETGEAR by 1.8% during the second quarter. State Street Corp now owns 842,782 shares of the communications equipment provider’s stock valued at $36,319,000 after acquiring an additional 14,817 shares in the last quarter. Finally, Macquarie Group Ltd. raised its position in NETGEAR by 35.0% during the second quarter. Macquarie Group Ltd. now owns 593,665 shares of the communications equipment provider’s stock valued at $25,587,000 after acquiring an additional 154,070 shares in the last quarter. 98.89% of the stock is currently owned by hedge funds and other institutional investors.
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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