NETGEAR (NASDAQ:NTGR) Director Sells $72,737.60 in Stock

NETGEAR, Inc. (NASDAQ:NTGR) Director Sarah Butterfass sold 2,704 shares of the stock in a transaction that occurred on 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 transaction, the director owned 38,953 shares in the company, valued at $1,047,835.70. This represents a 6.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

NETGEAR Price Performance

Shares of NASDAQ NTGR opened at $24.09 on Friday. The company’s 50 day simple moving average is $25.01 and its 200 day simple moving average is $23.62. NETGEAR, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $36.86. The firm has a market capitalization of $646.58 million, a P/E ratio of -27.38 and a beta of 1.17.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings data on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.14. NETGEAR had a negative net margin of 3.58% and a negative return on equity of 2.71%. The business had revenue of $158.82 million for the quarter, compared to analyst estimates of $152.49 million. During the same period in the prior year, the business posted $0.02 earnings per share. NETGEAR’s revenue was down 2.0% compared to the same quarter last year. Sell-side analysts expect that NETGEAR, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On NETGEAR

Several hedge funds have recently bought and sold shares of the company. Comerica Bank raised its holdings in NETGEAR by 64.8% in the third quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 429 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of NETGEAR by 44.7% during the third quarter. Jones Financial Companies Lllp now owns 2,323 shares of the communications equipment provider’s stock worth $75,000 after acquiring an additional 718 shares during the period. Cetera Investment Advisers raised its holdings in shares of NETGEAR by 6.4% during the first quarter. Cetera Investment Advisers now owns 11,996 shares of the communications equipment provider’s stock worth $262,000 after acquiring an additional 725 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of NETGEAR by 35.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the communications equipment provider’s stock worth $101,000 after acquiring an additional 904 shares during the period. Finally, FNY Investment Advisers LLC raised its holdings in shares of NETGEAR by 50.0% during the third quarter. FNY Investment Advisers LLC now owns 3,000 shares of the communications equipment provider’s stock worth $97,000 after acquiring an additional 1,000 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NTGR has been the topic of several analyst reports. Zacks Research upgraded shares of NETGEAR from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Wall Street Zen upgraded shares of NETGEAR from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $36.00.

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.