NETGEAR, Inc. (NASDAQ:NTGR) Receives $36.00 Consensus PT from Analysts

NETGEAR, Inc. (NASDAQ:NTGR) has been assigned a consensus rating of “Hold” from the four research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold 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.

A number of research analysts have commented on the company. Zacks Research upgraded NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of NETGEAR in a research note on Wednesday, June 24th. Finally, Wall Street Zen upgraded NETGEAR from a “sell” rating to a “hold” rating in a report on Saturday, March 28th.

Insider Buying and Selling at NETGEAR

In other 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 value of $76,410.00. Following the sale, the insider directly owned 165,513 shares in the company, valued at approximately $4,215,616.11. This trade represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Laura Durr sold 1,000 shares of NETGEAR stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $26.76, for a total value of $26,760.00. Following the completion of the transaction, the director owned 42,059 shares of the company’s stock, valued at approximately $1,125,498.84. This trade represents a 2.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 12,085 shares of company stock worth $318,703 over the last ninety days. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On NETGEAR

Institutional investors and hedge funds have recently made changes to their positions in the stock. Johnson Financial Group Inc. purchased a new position in NETGEAR in the fourth quarter worth approximately $25,000. Comerica Bank lifted its position in shares of NETGEAR by 64.8% during the 3rd quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 429 shares during the last quarter. IFP Advisors Inc grew its stake in shares of NETGEAR by 161.7% during 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 in the last quarter. Fifth Third Bancorp grew its stake in shares of NETGEAR by 6,085.7% during the first quarter. Fifth Third Bancorp now owns 3,031 shares of the communications equipment provider’s stock worth $66,000 after purchasing an additional 2,982 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of NETGEAR during the fourth quarter worth $89,000. 82.97% of the stock is owned by institutional investors and hedge funds.

NETGEAR Price Performance

Shares of NTGR opened at $21.45 on Friday. NETGEAR has a 1-year low of $19.00 and a 1-year high of $36.86. The stock has a market cap of $575.72 million, a PE ratio of -24.38 and a beta of 1.19. The firm has a 50-day simple moving average of $24.60 and a two-hundred day simple moving average of $23.27.

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

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.