Wall Street Zen Upgrades NETGEAR (NASDAQ:NTGR) to Hold

NETGEAR (NASDAQ:NTGR) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Other equities analysts have also issued reports about the stock. Stifel Nicolaus set a $36.00 price objective on shares of NETGEAR in a research report on Thursday, February 5th. Zacks Research raised shares of NETGEAR from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $36.00.

NETGEAR Trading Down 2.5%

NTGR stock opened at $21.57 on Friday. NETGEAR has a 1-year low of $18.75 and a 1-year high of $36.86. The business’s 50 day simple moving average is $21.19 and its 200 day simple moving average is $25.70. The firm has a market capitalization of $606.33 million, a PE ratio of -34.79 and a beta of 1.16.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, February 4th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $182.47 million during the quarter, compared to the consensus estimate of $177.26 million. During the same quarter last year, the firm posted ($0.06) EPS. The company’s quarterly revenue was up .0% on a year-over-year basis. As a group, sell-side analysts predict that NETGEAR will post -1.84 EPS for the current fiscal year.

Insider Buying and Selling

In other NETGEAR news, insider Pramod Badjate sold 3,000 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $20.97, for a total value of $62,910.00. Following the transaction, the insider directly owned 144,586 shares of the company’s stock, valued at $3,031,968.42. This represents a 2.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NETGEAR

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of NETGEAR by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 2,543,240 shares of the communications equipment provider’s stock valued at $62,386,000 after acquiring an additional 74,457 shares in the last quarter. Brandes Investment Partners LP raised its stake in NETGEAR by 10.8% in the 4th quarter. Brandes Investment Partners LP now owns 1,855,555 shares of the communications equipment provider’s stock worth $45,517,000 after purchasing an additional 180,295 shares in the last quarter. Pertento Partners LLP raised its stake in NETGEAR by 6.0% in the 2nd quarter. Pertento Partners LLP now owns 1,691,607 shares of the communications equipment provider’s stock worth $49,175,000 after purchasing an additional 95,955 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in NETGEAR by 5.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,636,697 shares of the communications equipment provider’s stock valued at $53,010,000 after purchasing an additional 85,228 shares during the period. Finally, Windward Management LP bought a new stake in NETGEAR in the 4th quarter valued at about $35,468,000. Institutional investors own 82.97% of the company’s stock.

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.