NETGEAR (NASDAQ:NTGR) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

NETGEAR, Inc. (NASDAQ:NTGR)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $23.75 and traded as high as $26.11. NETGEAR shares last traded at $26.09, with a volume of 294,270 shares traded.

Wall Street Analysts Forecast Growth

NTGR has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of NETGEAR in a report on Friday, March 27th. Zacks Research upgraded NETGEAR from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Stifel Nicolaus set a $36.00 price target on NETGEAR in a research report on Thursday, February 5th. Finally, Wall Street Zen upgraded NETGEAR from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $36.00.

NETGEAR Stock Up 1.2%

The stock has a market capitalization of $700.26 million, a PE ratio of -29.65 and a beta of 1.18. The firm has a 50 day moving average price of $24.39 and a 200 day moving average price of $23.75.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.14. The company had revenue of $158.82 million during the quarter, compared to the consensus estimate of $152.49 million. NETGEAR had a negative return on equity of 2.71% and a negative net margin of 3.58%.NETGEAR’s revenue was down 2.0% on a year-over-year basis. During the same period last year, the business posted $0.02 earnings per share. On average, equities analysts forecast that NETGEAR, Inc. will post -0.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NETGEAR news, insider Pramod Badjate sold 3,000 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $25.47, for a total transaction of $76,410.00. Following the completion of the transaction, the insider directly owned 165,513 shares of the company’s stock, valued at approximately $4,215,616.11. This represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On NETGEAR

Institutional investors and hedge funds have recently bought and sold shares of the company. Comerica Bank boosted its holdings in shares of NETGEAR by 64.8% in the third quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock worth $35,000 after acquiring an additional 429 shares during the period. Jones Financial Companies Lllp boosted its stake in NETGEAR by 44.7% during the third quarter. Jones Financial Companies Lllp now owns 2,323 shares of the communications equipment provider’s stock valued at $75,000 after buying an additional 718 shares during the period. Cetera Investment Advisers boosted its stake in NETGEAR by 6.4% during the first quarter. Cetera Investment Advisers now owns 11,996 shares of the communications equipment provider’s stock valued at $262,000 after buying an additional 725 shares during the period. Tower Research Capital LLC TRC boosted its stake in NETGEAR by 35.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the communications equipment provider’s stock valued at $101,000 after buying an additional 904 shares during the period. Finally, FNY Investment Advisers LLC boosted its stake in NETGEAR by 50.0% during the third quarter. FNY Investment Advisers LLC now owns 3,000 shares of the communications equipment provider’s stock valued at $97,000 after buying an additional 1,000 shares during the period. 82.97% of the stock is owned by institutional investors.

NETGEAR Company Profile

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.