NETGEAR (NASDAQ:NTGR) Upgraded to Hold at Wall Street Zen

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

Other analysts have also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of NETGEAR in a research report on Monday, December 29th. Stifel Nicolaus set a $36.00 target price on NETGEAR in a research note on Thursday, February 5th. Finally, Zacks Research upgraded NETGEAR from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $36.00.

NETGEAR Trading Down 2.5%

NASDAQ:NTGR opened at $21.57 on Friday. The company has a 50-day moving average price of $21.19 and a 200-day moving average price of $25.68. NETGEAR has a 12 month low of $18.75 and a 12 month high of $36.86. The stock has a market cap of $606.33 million, a price-to-earnings ratio of -34.79 and a beta of 1.16.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, February 4th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.21. NETGEAR had a negative net margin of 2.56% and a negative return on equity of 2.40%. The company had revenue of $182.47 million for the quarter, compared to analysts’ expectations of $177.26 million. During the same quarter in the previous year, the company earned ($0.06) earnings per share. NETGEAR’s quarterly revenue was up .0% on a year-over-year basis. Equities analysts forecast that NETGEAR will post -1.84 EPS for the current fiscal year.

Insider Buying and Selling

In other NETGEAR news, insider Pramod Badjate sold 3,000 shares of NETGEAR stock in a transaction 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 completion of the sale, the insider owned 144,586 shares of the company’s stock, valued at approximately $3,031,968.42. This trade represents a 2.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On NETGEAR

Institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC raised its position in NETGEAR by 12.2% in the 4th quarter. Hsbc Holdings PLC now owns 30,030 shares of the communications equipment provider’s stock worth $741,000 after buying an additional 3,277 shares during the last quarter. XTX Topco Ltd boosted its holdings in shares of NETGEAR by 135.7% during the 4th quarter. XTX Topco Ltd now owns 17,048 shares of the communications equipment provider’s stock valued at $418,000 after acquiring an additional 9,815 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of NETGEAR by 2.4% in the fourth quarter. Wellington Management Group LLP now owns 156,222 shares of the communications equipment provider’s stock worth $3,832,000 after acquiring an additional 3,663 shares during the period. Millennium Management LLC grew its stake in shares of NETGEAR by 386.1% in the fourth quarter. Millennium Management LLC now owns 236,078 shares of the communications equipment provider’s stock worth $5,791,000 after acquiring an additional 187,515 shares during the period. Finally, Engineers Gate Manager LP raised its holdings in shares of NETGEAR by 36.5% during the fourth quarter. Engineers Gate Manager LP now owns 58,020 shares of the communications equipment provider’s stock valued at $1,423,000 after purchasing an additional 15,512 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.