NETGEAR (NASDAQ:NTGR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of NETGEAR (NASDAQ:NTGR) from a sell rating to a hold rating in a research note published on Saturday.

Several other analysts also recently issued reports on NTGR. Weiss Ratings reaffirmed a “sell (d)” rating on shares of NETGEAR in a report on Monday, December 29th. Zacks Research lowered shares of NETGEAR from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. Raymond James Financial upped their price target on shares of NETGEAR from $29.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Stifel Nicolaus set a $36.00 price objective on NETGEAR in a research note on Thursday, February 5th. Two research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $36.00.

NETGEAR Price Performance

NETGEAR stock opened at $20.15 on Friday. NETGEAR has a one year low of $18.75 and a one year high of $36.86. The company’s fifty day moving average price is $22.44 and its two-hundred day moving average price is $26.52. The company has a market capitalization of $566.42 million, a price-to-earnings ratio of -32.50 and a beta of 1.15.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings results on Wednesday, February 4th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.21. NETGEAR had a negative return on equity of 2.40% and a negative net margin of 2.56%.The company had revenue of $182.47 million during the quarter, compared to the consensus estimate of $177.26 million. During the same quarter in the prior year, the company posted ($0.06) EPS. The firm’s revenue was up .0% on a year-over-year basis. As a group, sell-side analysts anticipate that NETGEAR will post -1.84 earnings per share for the current year.

Insider Buying and Selling at NETGEAR

In related news, insider Pramod Badjate sold 3,000 shares of NETGEAR stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $20.97, for a total transaction of $62,910.00. Following the sale, the insider directly owned 144,586 shares of the company’s stock, valued at $3,031,968.42. This trade represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.30% of the company’s stock.

Institutional Trading of NETGEAR

Hedge funds have recently modified their holdings of the company. Johnson Financial Group Inc. acquired a new position in shares of NETGEAR in the fourth quarter valued at $25,000. Comerica Bank increased its holdings 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 during the period. Rexford Capital Inc. acquired a new position in shares of NETGEAR in the 2nd quarter valued at $58,000. IFP Advisors Inc raised its stake in shares of NETGEAR by 161.7% in the 4th quarter. IFP Advisors Inc now owns 2,243 shares of the communications equipment provider’s stock valued at $55,000 after buying an additional 1,386 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of NETGEAR by 44.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,323 shares of the communications equipment provider’s stock worth $75,000 after acquiring an additional 718 shares during the period. Institutional investors 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.