NETGEAR (NASDAQ:NTGR) Stock Rating Lowered by Zacks Research

NETGEAR (NASDAQ:NTGR) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

Several other equities research analysts also recently weighed in on NTGR. Stifel Nicolaus set a $36.00 target price on shares of NETGEAR in a research note on Thursday, February 5th. Wall Street Zen downgraded shares of NETGEAR from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Raymond James Financial raised their price objective on shares of NETGEAR from $29.00 to $37.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $36.00.

NETGEAR Price Performance

Shares of NTGR stock opened at $20.61 on Monday. The company has a market cap of $585.32 million, a PE ratio of -33.24 and a beta of 1.15. NETGEAR has a 1 year low of $18.75 and a 1 year high of $36.86. The stock’s 50 day simple moving average is $23.31 and its two-hundred day simple moving average is $26.73.

NETGEAR (NASDAQ:NTGR) last released its earnings results on Wednesday, February 4th. The communications equipment provider reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.21. The firm had revenue of $182.47 million for 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 company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) EPS. Equities research analysts expect that NETGEAR will post -1.84 EPS for the current year.

Insider Transactions at NETGEAR

In other NETGEAR news, insider Pramod Badjate sold 3,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were 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 in the company, valued at $3,031,968.42. This represents a 2.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of NETGEAR by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 2,543,240 shares of the communications equipment provider’s stock worth $62,386,000 after buying an additional 74,457 shares during the last quarter. Pertento Partners LLP lifted its position in NETGEAR by 6.0% during the second quarter. Pertento Partners LLP now owns 1,691,607 shares of the communications equipment provider’s stock valued at $49,175,000 after acquiring an additional 95,955 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in NETGEAR by 5.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,636,697 shares of the communications equipment provider’s stock valued at $53,010,000 after acquiring an additional 85,228 shares in the last quarter. Acadian Asset Management LLC grew its holdings in NETGEAR by 0.3% in the second quarter. Acadian Asset Management LLC now owns 1,079,096 shares of the communications equipment provider’s stock worth $31,354,000 after purchasing an additional 3,114 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of NETGEAR by 4.1% during the second quarter. American Century Companies Inc. now owns 910,212 shares of the communications equipment provider’s stock worth $26,460,000 after purchasing an additional 35,873 shares in the last quarter. 82.97% of the stock is currently 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.