NETGEAR, Inc. (NTGR) Receives Consensus Recommendation of “Hold” from Brokerages
NETGEAR, Inc. (NASDAQ:NTGR) has been assigned an average recommendation of “Hold” from the six brokerages that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $62.75.
A number of research firms have recently issued reports on NTGR. BWS Financial upgraded shares of NETGEAR from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Monday, October 9th. Zacks Investment Research lowered shares of NETGEAR from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd.
NETGEAR (NASDAQ:NTGR) last released its earnings results on Wednesday, October 25th. The communications equipment provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. NETGEAR had a net margin of 5.33% and a return on equity of 10.57%. The business had revenue of $355.48 million for the quarter, compared to the consensus estimate of $349.36 million. During the same period in the previous year, the firm earned $0.76 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis.
In related news, SVP Tamesa Rogers sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $47.35, for a total transaction of $71,025.00. Following the transaction, the senior vice president now directly owns 22,703 shares of the company’s stock, valued at $1,074,987.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Patrick Cs Lo sold 9,900 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $47.91, for a total transaction of $474,309.00. Following the transaction, the chairman now directly owns 183,125 shares in the company, valued at $8,773,518.75. The disclosure for this sale can be found here. Insiders have sold 64,128 shares of company stock worth $3,106,660 in the last 90 days. 6.20% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Stevens Capital Management LP grew its position in NETGEAR by 41.8% during the third quarter. Stevens Capital Management LP now owns 7,186 shares of the communications equipment provider’s stock valued at $342,000 after purchasing an additional 2,118 shares in the last quarter. K.J. Harrison & Partners Inc purchased a new position in NETGEAR during the third quarter valued at approximately $286,000. Crossmark Global Holdings Inc. purchased a new position in NETGEAR during the third quarter valued at approximately $301,000. Fox Run Management L.L.C. purchased a new position in NETGEAR during the third quarter valued at approximately $609,000. Finally, Ardsley Advisory Partners purchased a new position in NETGEAR during the second quarter valued at approximately $517,000. 98.49% of the stock is currently owned by hedge funds and other 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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