NETGEAR, Inc. (NASDAQ:NTGR) Receives $36.00 Average PT from Brokerages

Shares of NETGEAR, Inc. (NASDAQ:NTGR) have earned an average recommendation of “Hold” from the four research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $36.00.

Several brokerages have weighed in on NTGR. Zacks Research cut NETGEAR from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. Stifel Nicolaus set a $36.00 price target on shares of NETGEAR in a research note on Thursday, February 5th. Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a report on Monday, December 29th. Finally, Wall Street Zen lowered shares of NETGEAR from a “hold” rating to a “sell” rating in a report on Sunday.

Insider Activity at NETGEAR

In other news, insider Pramod Badjate sold 3,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $20.97, for a total transaction of $62,910.00. Following the completion of the transaction, the insider directly owned 144,586 shares in the company, valued at approximately $3,031,968.42. The trade was a 2.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Amundi grew its holdings in NETGEAR by 99.1% during the first quarter. Amundi now owns 48,211 shares of the communications equipment provider’s stock valued at $1,179,000 after purchasing an additional 23,993 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of NETGEAR by 15.5% during the first quarter. Goldman Sachs Group Inc. now owns 279,874 shares of the communications equipment provider’s stock worth $6,846,000 after purchasing an additional 37,469 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of NETGEAR by 13.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,146 shares of the communications equipment provider’s stock valued at $1,814,000 after buying an additional 9,021 shares during the period. Jennison Associates LLC increased its position in shares of NETGEAR by 4.4% in the 2nd quarter. Jennison Associates LLC now owns 50,066 shares of the communications equipment provider’s stock valued at $1,455,000 after buying an additional 2,132 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan acquired a new stake in NETGEAR during the 2nd quarter worth $233,000. Institutional investors own 82.97% of the company’s stock.

NETGEAR Stock Performance

NASDAQ:NTGR opened at $21.67 on Monday. The company has a market cap of $609.14 million, a price-to-earnings ratio of -34.95 and a beta of 1.16. The stock’s fifty day moving average price is $21.95 and its two-hundred day moving average price is $26.30. NETGEAR has a 52-week low of $18.75 and a 52-week high of $36.86.

NETGEAR (NASDAQ:NTGR) last released its earnings results on Wednesday, February 4th. The communications equipment provider reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.21. NETGEAR had a negative return on equity of 2.40% and a negative net margin of 2.56%.The company had revenue of $182.47 million during the quarter, compared to the consensus estimate of $177.26 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The firm’s quarterly revenue was up .0% on a year-over-year basis. On average, equities analysts predict that NETGEAR will post -1.84 EPS for the current fiscal year.

About NETGEAR

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.