NETGEAR (NASDAQ:NTGR) Shares Cross Above 200 Day Moving Average – Should You Sell?

NETGEAR, Inc. (NASDAQ:NTGR) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $23.16 and traded as high as $24.36. NETGEAR shares last traded at $24.24, with a volume of 570,473 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wall Street Zen raised NETGEAR from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, NETGEAR presently has a consensus rating of “Hold” and an average target price of $36.00.

NETGEAR Trading Up 4.3%

The stock has a market capitalization of $650.60 million, a P/E ratio of -27.55 and a beta of 1.19. The firm’s fifty day moving average is $24.01 and its 200-day moving average is $23.16.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings data on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share 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 analysts’ expectations of $152.49 million. NETGEAR had a negative net margin of 3.58% and a negative return on equity of 2.71%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 earnings per share. Equities research analysts expect that NETGEAR, Inc. will post -0.5 EPS for the current year.

Insiders Place Their Bets

In other news, insider Pramod Badjate sold 3,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 165,513 shares of the company’s stock, valued at $4,215,616.11. The trade was a 1.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Shravan Goli sold 3,381 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $26.89, for a total value of $90,915.09. Following the sale, the director owned 25,857 shares in the company, valued at approximately $695,294.73. This trade represents a 11.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 12,085 shares of company stock valued at $318,703 over the last quarter. 3.10% of the stock is owned by insiders.

Institutional Trading of NETGEAR

Several large investors have recently made changes to their positions in NTGR. Anchor Capital Advisors LLC bought a new position in shares of NETGEAR in the fourth quarter valued at about $2,131,000. Concentric Capital Strategies LP acquired a new position in NETGEAR during the 4th quarter worth about $7,020,000. OP Asset Management Ltd bought a new stake in NETGEAR during the 1st quarter worth about $5,266,000. Leuthold Group LLC grew its holdings in NETGEAR by 56.1% during the 4th quarter. Leuthold Group LLC now owns 159,432 shares of the communications equipment provider’s stock worth $3,911,000 after acquiring an additional 57,266 shares during the last quarter. Finally, Brandes Investment Partners LP increased its position 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 valued at $45,517,000 after acquiring an additional 180,295 shares in the last quarter. 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.