NETGEAR (NASDAQ:NTGR) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

NETGEAR, Inc. (NASDAQ:NTGR)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $23.43 and traded as high as $23.98. NETGEAR shares last traded at $22.78, with a volume of 395,091 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NTGR shares. Wall Street Zen upgraded NETGEAR from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Zacks Research upgraded NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.00.

NETGEAR Stock Performance

The business has a 50 day moving average of $25.20 and a 200-day moving average of $23.43. The company has a market capitalization of $611.42 million, a P/E ratio of -25.89 and a beta of 1.17.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.14. NETGEAR had a negative net margin of 3.58% and a negative return on equity of 2.71%. The firm had revenue of $158.82 million for the quarter, compared to the consensus estimate of $152.49 million. During the same period in the prior year, the firm posted $0.02 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities analysts forecast that NETGEAR, Inc. will post -0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Pramod Badjate sold 3,000 shares of the business’s stock in a transaction dated 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 owned 165,513 shares of the company’s stock, valued at approximately $4,215,616.11. The trade was a 1.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Also, Director Sarah Butterfass sold 2,704 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $26.90, for a total transaction of $72,737.60. Following the completion of the sale, the director directly owned 38,953 shares in the company, valued at $1,047,835.70. This represents a 6.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 12,085 shares of company stock worth $318,703. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NTGR. Johnson Financial Group Inc. purchased a new position in shares of NETGEAR in the 4th quarter worth about $25,000. Comerica Bank grew its holdings in NETGEAR by 64.8% in the 3rd 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 last quarter. IFP Advisors Inc grew its stake in shares of NETGEAR by 161.7% in the fourth quarter. IFP Advisors Inc now owns 2,243 shares of the communications equipment provider’s stock worth $55,000 after purchasing an additional 1,386 shares during the last quarter. FNY Investment Advisers LLC increased its stake in shares of 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. Finally, Fifth Third Bancorp increased its position in NETGEAR by 6,085.7% during the 1st quarter. Fifth Third Bancorp now owns 3,031 shares of the communications equipment provider’s stock valued at $66,000 after purchasing an additional 2,982 shares during the period. 82.97% of the stock is currently owned by hedge funds and other 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.