Analysts Set NETGEAR, Inc. (NASDAQ:NTGR) Price Target at $37.33

NETGEAR, Inc. (NASDAQ:NTGR) has earned an average rating of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $37.3333.

Several analysts have issued reports on the stock. Seaport Res Ptn raised shares of NETGEAR to a “strong-buy” rating in a research note on Wednesday, October 1st. Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a report on Monday. Zacks Research lowered NETGEAR from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Raymond James Financial upped their price objective on NETGEAR from $29.00 to $37.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Finally, Stifel Nicolaus increased their target price on NETGEAR from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, October 17th.

NETGEAR Price Performance

NETGEAR stock opened at $24.39 on Wednesday. NETGEAR has a 1 year low of $18.75 and a 1 year high of $36.86. The firm’s 50 day moving average price is $28.53 and its 200-day moving average price is $28.29. The stock has a market cap of $692.68 million, a P/E ratio of -26.80 and a beta of 1.20.

Insider Transactions at NETGEAR

In related news, insider Pramod Badjate sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $24.60, for a total value of $98,400.00. Following the completion of the sale, the insider directly owned 155,361 shares of the company’s stock, valued at $3,821,880.60. This represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bradley Maiorino sold 13,063 shares of the company’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $35.26, for a total transaction of $460,601.38. Following the completion of the sale, the director directly owned 56,356 shares of the company’s stock, valued at $1,987,112.56. The trade was a 18.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 20,315 shares of company stock valued at $661,592 over the last 90 days. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of NETGEAR

A number of institutional investors have recently made changes to their positions in NTGR. Comerica Bank grew its holdings in shares of NETGEAR by 64.8% during the third quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock valued at $35,000 after buying an additional 429 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in NETGEAR during the 2nd quarter valued at about $58,000. Rexford Capital Inc. purchased a new stake in NETGEAR during the 2nd quarter valued at about $58,000. Jones Financial Companies Lllp increased its holdings in shares of NETGEAR by 44.7% in the third quarter. Jones Financial Companies Lllp now owns 2,323 shares of the communications equipment provider’s stock valued at $75,000 after purchasing an additional 718 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of NETGEAR by 35.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the communications equipment provider’s stock worth $101,000 after purchasing an additional 904 shares during the last quarter. Institutional investors and hedge funds 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.