NetGear, Inc. (NASDAQ:NTGR) has received an average recommendation of “Hold” from the eight analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $69.33.
Several equities analysts have recently commented on NTGR shares. BidaskClub cut NetGear from a “hold” rating to a “sell” rating in a research note on Friday, September 21st. TheStreet cut NetGear from a “b-” rating to a “c+” rating in a research note on Monday, August 13th. ValuEngine upgraded NetGear from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Guggenheim reiterated a “buy” rating on shares of NetGear in a research note on Tuesday, August 28th. Finally, Zacks Investment Research reiterated a “hold” rating on shares of NetGear in a research note on Wednesday, November 14th.
NASDAQ NTGR opened at $52.50 on Friday. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 22.63 and a beta of 2.08. NetGear has a fifty-two week low of $48.16 and a fifty-two week high of $78.30.
NetGear (NASDAQ:NTGR) last released its quarterly earnings results on Thursday, October 25th. The communications equipment provider reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.25. The firm had revenue of $400.59 million during the quarter, compared to analysts’ expectations of $388.94 million. NetGear had a positive return on equity of 8.75% and a negative net margin of 1.43%. As a group, equities analysts forecast that NetGear will post 0.3 earnings per share for the current year.
In related news, SVP Tamesa Rogers sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $55.37, for a total transaction of $110,740.00. Following the sale, the senior vice president now directly owns 32,102 shares of the company’s stock, valued at approximately $1,777,487.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Barbara Vaughn Scherer sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, October 22nd. The shares were sold at an average price of $54.73, for a total value of $164,190.00. Following the sale, the director now directly owns 15,133 shares in the company, valued at $828,229.09. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,816 shares of company stock worth $3,205,856. Corporate insiders own 5.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Laurion Capital Management LP raised its position in shares of NetGear by 169.3% during the 2nd quarter. Laurion Capital Management LP now owns 18,800 shares of the communications equipment provider’s stock valued at $1,175,000 after acquiring an additional 11,820 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of NetGear during the 3rd quarter valued at approximately $58,328,000. Water Island Capital LLC acquired a new stake in shares of NetGear during the 3rd quarter valued at approximately $7,641,000. Stevens Capital Management LP acquired a new stake in shares of NetGear during the 2nd quarter valued at approximately $201,000. Finally, Chicago Equity Partners LLC raised its position in shares of NetGear by 91.6% during the 2nd quarter. Chicago Equity Partners LLC now owns 20,980 shares of the communications equipment provider’s stock valued at $1,311,000 after acquiring an additional 10,030 shares in the last quarter.
NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. The company operates in three segments: Arlo, Connected Home, and Small and Medium Business. It offers smart home/connected home/broadband access products, such as remote video security systems, broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, and WiFi network adapters.
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