NetGear (NTGR) Upgraded by BidaskClub to “Buy”
NetGear (NASDAQ:NTGR) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Thursday.
Other equities research analysts also recently issued research reports about the company. 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 report on Monday, October 9th. Zacks Investment Research downgraded NetGear from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $62.75.
NetGear (NTGR) traded up $1.30 during trading hours on Thursday, hitting $55.35. The company’s stock had a trading volume of 1,230,000 shares, compared to its average volume of 469,137. The stock has a market capitalization of $1,780.00, a P/E ratio of 21.71 and a beta of 1.52. NetGear has a 12-month low of $41.50 and a 12-month high of $58.50.
In related news, SVP Tamesa Rogers sold 1,500 shares of the stock in a transaction on Monday, October 9th. The stock was sold at an average price of $49.80, for a total value of $74,700.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael F. Falcon sold 520 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $50.00, for a total value of $26,000.00. Following the completion of the sale, the senior vice president now owns 34,611 shares in the company, valued at approximately $1,730,550. The disclosure for this sale can be found here. Insiders sold 99,888 shares of company stock worth $4,866,581 in the last quarter. 6.20% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of NetGear by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,764,602 shares of the communications equipment provider’s stock worth $119,155,000 after buying an additional 66,287 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of NetGear by 11.4% in the third quarter. Bank of New York Mellon Corp now owns 1,917,611 shares of the communications equipment provider’s stock worth $91,278,000 after buying an additional 196,863 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of NetGear by 28.2% in the second quarter. Alliancebernstein L.P. now owns 1,417,760 shares of the communications equipment provider’s stock worth $61,105,000 after buying an additional 311,735 shares in the last quarter. LSV Asset Management increased its stake in NetGear by 3.7% in the second quarter. LSV Asset Management now owns 1,066,653 shares of the communications equipment provider’s stock valued at $45,972,000 after acquiring an additional 38,000 shares during the last quarter. Finally, State Street Corp increased its stake in NetGear by 1.8% in 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 during the last quarter. Institutional investors own 97.52% of the company’s stock.
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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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