Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of NetGear, Inc. (NASDAQ:NTGR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,839 shares of the communications equipment provider’s stock, valued at approximately $47,000.
A number of other hedge funds have also recently made changes to their positions in the stock. NJ State Employees Deferred Compensation Plan acquired a new position in shares of NetGear in the 2nd quarter valued at $202,000. SG Americas Securities LLC acquired a new stake in NetGear during the 2nd quarter worth about $253,000. State of Alaska Department of Revenue acquired a new stake in NetGear during the 2nd quarter worth about $271,000. Louisiana State Employees Retirement System acquired a new stake in NetGear during the 2nd quarter worth about $307,000. Finally, Oregon Public Employees Retirement Fund acquired a new stake in NetGear during the 2nd quarter worth about $314,000. 96.22% of the stock is owned by institutional investors and hedge funds.
NTGR traded down $1.11 during midday trading on Friday, reaching $32.60. The company’s stock had a trading volume of 3,274 shares, compared to its average volume of 394,324. The stock has a market cap of $1.03 billion, a P/E ratio of 18.79 and a beta of 1.72. The company has a fifty day simple moving average of $30.44 and a 200 day simple moving average of $31.26. The company has a current ratio of 2.45, a quick ratio of 1.57 and a debt-to-equity ratio of 0.05. NetGear, Inc. has a twelve month low of $24.63 and a twelve month high of $75.25.
NetGear (NASDAQ:NTGR) last released its earnings results on Wednesday, July 24th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.14). The business had revenue of $230.85 million during the quarter, compared to analyst estimates of $224.35 million. NetGear had a net margin of 0.91% and a return on equity of 7.26%. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period last year, the business earned $0.29 EPS. Sell-side analysts expect that NetGear, Inc. will post 1.62 earnings per share for the current year.
In other NetGear news, Director Gregory J. Rossman sold 1,787 shares of NetGear stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $25.28, for a total value of $45,175.36. Following the completion of the transaction, the director now owns 38,826 shares in the company, valued at approximately $981,521.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Barbara Vaughn Scherer sold 1,308 shares of NetGear stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $25.05, for a total value of $32,765.40. Following the completion of the transaction, the director now owns 19,040 shares of the company’s stock, valued at approximately $476,952. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,541 shares of company stock worth $1,915,158. 5.10% of the stock is owned by insiders.
NTGR has been the subject of a number of research reports. ValuEngine upgraded NetGear from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Guggenheim initiated coverage on NetGear in a research note on Wednesday, June 19th. They set a “buy” rating and a $40.00 price target for the company. Deutsche Bank initiated coverage on NetGear in a research note on Friday, June 28th. They set a “hold” rating and a $28.00 price target for the company. Finally, BidaskClub raised NetGear from a “strong sell” rating to a “sell” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $49.80.
NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. It operates in two segments, Connected Home, and Small and Medium Business. The company offers smart home/connected home/broadband access products, such as broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, WiFi network adapters, and digital canvasses; and value added service offerings, including technical support, parental controls, and cybersecurity protection.
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