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

NETGEAR, Inc. (NASDAQ:NTGR) has been given an average recommendation of “Hold” by the four analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $36.50.

Several equities research analysts have recently commented on NTGR shares. Wall Street Zen raised shares of NETGEAR from a “sell” rating to a “hold” rating in a research report on Sunday, September 6th. Weiss Ratings reissued a “sell (d)” rating on shares of NETGEAR in a report on Wednesday, June 24th.

Insiders Place Their Bets

In other NETGEAR news, insider Pramod Badjate sold 3,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $23.88, for a total value of $71,640.00. Following the transaction, the insider directly owned 154,073 shares in the company, valued at approximately $3,679,263.24. This trade represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On NETGEAR

Hedge funds have recently modified their holdings of the business. Continuum Advisory LLC bought a new position in NETGEAR in the 2nd quarter worth $25,000. Integrated Wealth Concepts LLC bought a new stake in NETGEAR during the second quarter valued at about $31,000. IFP Advisors Inc grew its holdings in NETGEAR by 161.7% during the fourth quarter. IFP Advisors Inc now owns 2,243 shares of the communications equipment provider’s stock valued at $55,000 after purchasing an additional 1,386 shares during the period. Persistent Asset Partners Ltd bought a new stake in NETGEAR during the second quarter valued at about $58,000. Finally, Fifth Third Bancorp increased its position in NETGEAR by 6,085.7% in the first quarter. Fifth Third Bancorp now owns 3,031 shares of the communications equipment provider’s stock worth $66,000 after buying an additional 2,982 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

NETGEAR Price Performance

Shares of NTGR opened at $22.90 on Friday. The firm has a market capitalization of $622.40 million, a P/E ratio of -24.62 and a beta of 1.17. NETGEAR has a one year low of $19.00 and a one year high of $36.86. The business has a fifty day moving average of $22.69 and a 200 day moving average of $23.44.

NETGEAR (NASDAQ:NTGR) last posted its earnings results on Thursday, August 6th. The communications equipment provider reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.15. The company had revenue of $168.56 million for the quarter, compared to the consensus estimate of $157.80 million. NETGEAR had a negative return on equity of 2.79% and a negative net margin of 3.71%.NETGEAR’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 earnings per share. Analysts expect that NETGEAR will post -0.52 EPS for the current fiscal year.

NETGEAR Company Profile

NETGEAR, Inc (NASDAQ: NTGR) develops and markets networking products and related services for consumers, businesses and service providers. Its portfolio includes wireless routers, mesh Wi-Fi systems, cable and cellular gateways, switches, wireless access points, network storage products and security cameras.

The company offers consumer-focused product lines such as Nighthawk and Orbi, as well as business networking solutions marketed under brands including NETGEAR Business and Insight.