NETGEAR (NASDAQ:NTGR) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of NETGEAR (NASDAQ:NTGR) from a hold rating to a sell rating in a report released on Saturday.

NTGR has been the topic of a number of other research reports. Raymond James Financial lifted their price target on shares of NETGEAR from $29.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of NETGEAR in a research report on Monday, December 29th. Zacks Research lowered NETGEAR from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Seaport Res Ptn raised NETGEAR to a “strong-buy” rating in a research note on Wednesday, October 1st. Finally, Stifel Nicolaus upped their target price on NETGEAR from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.33.

NETGEAR Price Performance

NASDAQ:NTGR opened at $22.43 on Friday. NETGEAR has a one year low of $18.75 and a one year high of $36.86. The company has a market cap of $637.01 million, a PE ratio of -24.65 and a beta of 1.14. The firm’s 50 day simple moving average is $25.10 and its 200 day simple moving average is $27.62.

Insider Activity at NETGEAR

In other NETGEAR news, insider Pramod Badjate sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $24.60, for a total transaction of $98,400.00. Following the transaction, the insider directly owned 155,361 shares in the company, valued at approximately $3,821,880.60. This represents a 2.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Graeme Mclindin sold 1,205 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $34.26, for a total transaction of $41,283.30. Following the sale, the vice president directly owned 30,808 shares of the company’s stock, valued at approximately $1,055,482.08. This trade represents a 3.76% decrease in their position. The SEC filing for this sale provides additional information. 2.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NETGEAR

Several institutional investors have recently made changes to their positions in the stock. Comerica Bank increased its position in NETGEAR by 64.8% in the 3rd 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 in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of NETGEAR by 44.7% during the third quarter. Jones Financial Companies Lllp now owns 2,323 shares of the communications equipment provider’s stock valued at $75,000 after acquiring an additional 718 shares in the last quarter. Bailard Inc. increased its holdings in shares of NETGEAR by 9.9% during the second quarter. Bailard Inc. now owns 10,000 shares of the communications equipment provider’s stock valued at $291,000 after acquiring an additional 900 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of NETGEAR by 35.2% during 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 period. Finally, FNY Investment Advisers LLC lifted its holdings in shares of NETGEAR by 50.0% in the 3rd quarter. FNY Investment Advisers LLC now owns 3,000 shares of the communications equipment provider’s stock worth $97,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

NETGEAR Company Profile

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.