NETGEAR, Inc. (NASDAQ:NTGR) Receives Consensus Rating of “Hold” from Brokerages

Shares of NETGEAR, Inc. (NASDAQ:NTGR) have earned an average recommendation of “Hold” from the four ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $36.00.

Several research analysts have recently commented on the company. Zacks Research upgraded NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Wall Street Zen upgraded NETGEAR from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of NETGEAR in a report on Wednesday, June 24th.

Insider Activity at NETGEAR

In other news, Director Sarah Butterfass sold 2,704 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $26.90, for a total transaction of $72,737.60. Following the completion of the sale, the director owned 38,953 shares in the company, valued at approximately $1,047,835.70. This trade represents a 6.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shravan Goli sold 3,381 shares of NETGEAR stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $26.89, for a total transaction of $90,915.09. Following the sale, the director directly owned 25,857 shares of the company’s stock, valued at $695,294.73. The trade was a 11.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 12,085 shares of company stock valued at $318,703 over the last three months. Company insiders own 3.10% of the company’s stock.

Institutional Trading of NETGEAR

Several hedge funds have recently added to or reduced their stakes in the company. Windward Management LP acquired a new position in NETGEAR in the 4th quarter valued at $35,468,000. Concentric Capital Strategies LP bought a new position in NETGEAR during the 4th quarter worth $7,020,000. Lazard Asset Management LLC lifted its holdings in shares of NETGEAR by 87.6% during the third quarter. Lazard Asset Management LLC now owns 548,911 shares of the communications equipment provider’s stock worth $17,779,000 after buying an additional 256,266 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of NETGEAR by 77.8% in the first quarter. Renaissance Technologies LLC now owns 557,462 shares of the communications equipment provider’s stock valued at $12,175,000 after acquiring an additional 243,843 shares during the period. Finally, OP Asset Management Ltd bought a new stake in shares of NETGEAR in the first quarter valued at about $5,266,000. 82.97% of the stock is owned by institutional investors and hedge funds.

NETGEAR Stock Performance

Shares of NASDAQ:NTGR opened at $21.50 on Friday. NETGEAR has a 52-week low of $19.00 and a 52-week high of $36.86. The company has a market capitalization of $577.06 million, a P/E ratio of -24.43 and a beta of 1.19. The company has a 50-day simple moving average of $24.75 and a 200 day simple moving average of $23.30.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.14. The firm had revenue of $158.82 million for the quarter, compared to the consensus estimate of $152.49 million. NETGEAR had a negative return on equity of 2.71% and a negative net margin of 3.58%.The business’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.02 earnings per share. As a group, equities analysts forecast that NETGEAR will post -0.5 earnings per share for the current year.

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.