NetGear (NASDAQ:NTGR) Lowered to Buy at BidaskClub

NetGear (NASDAQ:NTGR) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday, December 27th.

Other equities research analysts have also recently issued research reports about the stock. BWS Financial upgraded shares of NetGear from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Monday, October 9th. Zacks Investment Research upgraded shares of NetGear from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Finally, Raymond James Financial upgraded shares of NetGear from a “market perform” rating to an “outperform” rating and set a $62.00 price target on the stock in a research report on Monday, December 18th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $65.20.

Shares of NetGear (NASDAQ:NTGR) opened at $65.40 on Wednesday. NetGear has a fifty-two week low of $41.50 and a fifty-two week high of $65.55. The company has a market cap of $2,060.00, a P/E ratio of 29.73 and a beta of 1.53.

NetGear (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, October 25th. The communications equipment provider reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.13. NetGear had a net margin of 5.85% and a return on equity of 10.74%. The firm had revenue of $355.48 million for the quarter, compared to analysts’ expectations of $349.36 million. During the same quarter in the prior year, the company posted $0.76 earnings per share. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. analysts expect that NetGear will post 2.24 earnings per share for the current fiscal year.

In related news, Director Jef Graham purchased 500 shares of NetGear stock in a transaction on Friday, December 15th. The shares were bought at an average cost of $54.05 per share, for a total transaction of $27,025.00. Following the acquisition, the director now owns 5,183 shares in the company, valued at approximately $280,141.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark G. Merrill sold 3,000 shares of NetGear stock in a transaction on Monday, October 16th. The shares were sold at an average price of $50.70, for a total transaction of $152,100.00. Following the completion of the sale, the insider now owns 32,534 shares in the company, valued at $1,649,473.80. The disclosure for this sale can be found here. Insiders have sold a total of 82,300 shares of company stock worth $4,220,161 over the last 90 days. Insiders own 6.20% of the company’s stock.

Large investors have recently modified their holdings of the business. Victory Capital Management Inc. grew its stake in shares of NetGear by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,206 shares of the communications equipment provider’s stock worth $138,000 after buying an additional 482 shares in the last quarter. Amalgamated Bank purchased a new position in shares of NetGear during the 3rd quarter worth about $207,000. M&T Bank Corp boosted its stake in shares of NetGear by 31.5% during the 2nd quarter. M&T Bank Corp now owns 5,428 shares of the communications equipment provider’s stock worth $234,000 after purchasing an additional 1,300 shares during the period. K.J. Harrison & Partners Inc purchased a new position in shares of NetGear during the 3rd quarter worth about $286,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of NetGear during the 3rd quarter worth about $301,000. 97.52% of the stock is owned by institutional investors and hedge funds.

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NetGear Company Profile

NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.

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