NetGear (NASDAQ:NTGR) received a $75.00 price objective from investment analysts at BWS Financial in a report issued on Friday. The brokerage currently has a “buy” rating on the communications equipment provider’s stock. BWS Financial’s price target would indicate a potential upside of 14.68% from the stock’s previous close.
A number of other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of NetGear from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Wednesday. BidaskClub lowered shares of NetGear from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 27th. Finally, Raymond James Financial raised shares of NetGear from a “market perform” rating to an “outperform” rating and set a $62.00 price target on the stock in a research note on Monday, December 18th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. NetGear has a consensus rating of “Buy” and a consensus target price of $65.20.
Shares of NetGear (NASDAQ NTGR) traded up $1.95 during trading on Friday, reaching $65.40. 526,493 shares of the company were exchanged, compared to its average volume of 505,017. The stock has a market cap of $2,060.00, a price-to-earnings ratio of 29.73 and a beta of 1.53. NetGear has a 1 year low of $41.50 and a 1 year high of $65.55.
NetGear (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, October 25th. The communications equipment provider reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.13. The firm had revenue of $355.48 million for the quarter, compared to analyst estimates of $349.36 million. NetGear had a net margin of 5.85% and a return on equity of 10.74%. NetGear’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company posted $0.76 EPS. equities research analysts expect that NetGear will post 2.24 EPS for the current fiscal year.
In other NetGear news, SVP Michael F. Falcon sold 520 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $50.00, for a total value of $26,000.00. Following the transaction, the senior vice president now directly owns 34,611 shares of the company’s stock, valued at approximately $1,730,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark G. Merrill sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $50.70, for a total transaction of $152,100.00. Following the completion of the transaction, the insider now directly owns 32,534 shares in the company, valued at $1,649,473.80. The disclosure for this sale can be found here. Insiders sold a total of 82,300 shares of company stock worth $4,220,161 over the last ninety days. 6.20% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its stake in NetGear by 0.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 44,772 shares of the communications equipment provider’s stock worth $1,930,000 after purchasing an additional 135 shares in the last quarter. Victory Capital Management Inc. lifted its stake in NetGear by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,206 shares of the communications equipment provider’s stock worth $138,000 after purchasing an additional 482 shares in the last quarter. Thrivent Financial For Lutherans lifted its stake in NetGear by 5.0% in the 2nd quarter. Thrivent Financial For Lutherans now owns 19,560 shares of the communications equipment provider’s stock worth $843,000 after purchasing an additional 940 shares in the last quarter. California Public Employees Retirement System lifted its stake in NetGear by 1.8% in the 2nd quarter. California Public Employees Retirement System now owns 69,200 shares of the communications equipment provider’s stock worth $2,983,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Vident Investment Advisory LLC lifted its stake in NetGear by 2.8% in the 3rd quarter. Vident Investment Advisory LLC now owns 44,518 shares of the communications equipment provider’s stock worth $2,119,000 after purchasing an additional 1,209 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.
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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.