NetGear, Inc. (NASDAQ:NTGR) SVP Michael F. Falcon sold 1,042 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $55.90, for a total transaction of $58,247.80. Following the sale, the senior vice president now owns 44,268 shares of the company’s stock, valued at $2,474,581.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of NetGear, Inc. (NTGR) traded down $0.50 during trading on Wednesday, hitting $58.40. 609,933 shares of the stock traded hands, compared to its average volume of 574,091. NetGear, Inc. has a twelve month low of $41.50 and a twelve month high of $71.42. The firm has a market capitalization of $1,884.44, a P/E ratio of 110.76 and a beta of 1.93.
NetGear (NASDAQ:NTGR) last posted its quarterly earnings results on Tuesday, February 6th. The communications equipment provider reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.07. NetGear had a net margin of 1.38% and a return on equity of 9.92%. The firm had revenue of $397.06 million for the quarter, compared to the consensus estimate of $393.27 million. During the same quarter in the previous year, the company earned $0.88 earnings per share. The business’s revenue was up 11.7% compared to the same quarter last year. analysts expect that NetGear, Inc. will post 3.26 EPS for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. boosted its stake in shares of NetGear by 4.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 318,392 shares of the communications equipment provider’s stock valued at $15,156,000 after purchasing an additional 14,995 shares in the last quarter. Strs Ohio boosted its stake in shares of NetGear by 5.9% in the 4th quarter. Strs Ohio now owns 90,000 shares of the communications equipment provider’s stock valued at $5,287,000 after purchasing an additional 5,000 shares in the last quarter. State Street Corp boosted its stake in shares of NetGear by 1.8% in the 2nd quarter. State Street Corp now owns 842,782 shares of the communications equipment provider’s stock valued at $36,319,000 after purchasing an additional 14,817 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of NetGear by 132.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 15,264 shares of the communications equipment provider’s stock valued at $727,000 after purchasing an additional 8,710 shares in the last quarter. Finally, Stevens Capital Management LP boosted its stake in shares of NetGear by 41.8% in the 3rd quarter. Stevens Capital Management LP now owns 7,186 shares of the communications equipment provider’s stock valued at $342,000 after purchasing an additional 2,118 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.
NTGR has been the topic of several recent research reports. Raymond James Financial raised shares of NetGear from a “market perform” rating to an “outperform” rating and set a $62.00 price objective on the stock in a research report on Monday, December 18th. BidaskClub raised shares of NetGear from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 13th. Zacks Investment Research raised shares of NetGear from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Wednesday, January 10th. Finally, BWS Financial set a $75.00 price target on shares of NetGear and gave the company a “buy” rating in a research report on Friday, January 12th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $65.20.
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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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