NETGEAR, Inc. (NTGR) SVP Michael F. Falcon Sells 520 Shares
NETGEAR, Inc. (NASDAQ:NTGR) SVP Michael F. Falcon sold 520 shares of the firm’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $50.00, for a total value of $26,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of NETGEAR, Inc. (NASDAQ NTGR) traded up 1.31% on Tuesday, hitting $50.30. The stock had a trading volume of 388,743 shares. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 23.08 and a beta of 1.53. NETGEAR, Inc. has a 52 week low of $41.50 and a 52 week high of $59.92. The firm has a 50 day moving average price of $48.71 and a 200-day moving average price of $46.50.
NETGEAR (NASDAQ:NTGR) last released its earnings results on Wednesday, July 26th. The communications equipment provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 10.67% and a net margin of 5.42%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.72 earnings per share. Analysts anticipate that NETGEAR, Inc. will post $2.73 EPS for the current year.
NTGR has been the topic of a number of recent research reports. Zacks Investment Research cut NETGEAR from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. BWS Financial upgraded NETGEAR from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $62.13.
Hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its position in shares of NETGEAR by 17.1% during the first quarter. Envestnet Asset Management Inc. now owns 2,080 shares of the communications equipment provider’s stock worth $103,000 after acquiring an additional 304 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of NETGEAR by 42.8% during the first quarter. Victory Capital Management Inc. now owns 2,724 shares of the communications equipment provider’s stock worth $135,000 after acquiring an additional 817 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its position in shares of NETGEAR by 364.8% during the first quarter. Cornerstone Capital Management Holdings LLC. now owns 3,500 shares of the communications equipment provider’s stock worth $173,000 after acquiring an additional 2,747 shares during the last quarter. Palouse Capital Management Inc. bought a new stake in shares of NETGEAR during the second quarter worth $202,000. Finally, M&T Bank Corp raised its position in shares of NETGEAR by 31.5% during the second quarter. M&T Bank Corp now owns 5,428 shares of the communications equipment provider’s stock worth $234,000 after acquiring an additional 1,300 shares during the last quarter. Institutional investors own 98.85% of the company’s stock.
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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