NETGEAR (NASDAQ:NTGR) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of NETGEAR (NASDAQ:NTGR) from a hold rating to a sell rating in a research report report published on Sunday morning.

Several other research analysts have also issued reports on NTGR. Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research note on Monday, December 29th. Zacks Research cut shares of NETGEAR from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. Finally, Stifel Nicolaus set a $36.00 target price on shares of NETGEAR in a research note on Thursday, February 5th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $36.00.

NETGEAR Stock Up 0.5%

NASDAQ NTGR opened at $20.85 on Friday. NETGEAR has a twelve month low of $18.75 and a twelve month high of $36.86. The firm has a market capitalization of $586.09 million, a PE ratio of -33.63 and a beta of 1.16. The stock’s 50 day moving average is $22.01 and its 200 day moving average is $26.34.

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

Insiders Place Their Bets

In related news, insider Pramod Badjate sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $20.97, for a total value of $62,910.00. Following the transaction, the insider directly owned 144,586 shares of the company’s stock, valued at approximately $3,031,968.42. This represents a 2.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NTGR. XTX Topco Ltd lifted its holdings in shares of NETGEAR by 135.7% during the fourth quarter. XTX Topco Ltd now owns 17,048 shares of the communications equipment provider’s stock valued at $418,000 after purchasing an additional 9,815 shares in the last quarter. Wellington Management Group LLP raised its position in NETGEAR by 2.4% in the 4th quarter. Wellington Management Group LLP now owns 156,222 shares of the communications equipment provider’s stock worth $3,832,000 after buying an additional 3,663 shares during the last quarter. Millennium Management LLC raised its position in NETGEAR by 386.1% in the 4th quarter. Millennium Management LLC now owns 236,078 shares of the communications equipment provider’s stock worth $5,791,000 after buying an additional 187,515 shares during the last quarter. Engineers Gate Manager LP lifted its stake in NETGEAR by 36.5% during the 4th quarter. Engineers Gate Manager LP now owns 58,020 shares of the communications equipment provider’s stock valued at $1,423,000 after acquiring an additional 15,512 shares during the period. Finally, Concentric Capital Strategies LP purchased a new stake in shares of NETGEAR during the 4th quarter valued at about $7,020,000. Hedge funds and other institutional investors 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.