Brokerages Set NETGEAR, Inc. (NASDAQ:NTGR) Target Price at $36.00

Shares of NETGEAR, Inc. (NASDAQ:NTGR) have received a consensus recommendation of “Hold” from the four ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $36.00.

A number of research analysts recently commented on NTGR shares. Zacks Research upgraded shares of NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Wall Street Zen upgraded shares of NETGEAR from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research note on Friday, March 27th.

NETGEAR Stock Performance

Shares of NTGR opened at $24.50 on Wednesday. NETGEAR has a 52 week low of $19.00 and a 52 week high of $36.86. The firm has a market cap of $657.58 million, a P/E ratio of -27.84 and a beta of 1.17. The firm’s 50-day simple moving average is $25.25 and its 200 day simple moving average is $23.61.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business earned $0.02 EPS. NETGEAR’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities analysts forecast that NETGEAR will post -0.5 earnings per share for the current year.

Insider Activity at NETGEAR

In related news, Director Shravan Goli sold 3,381 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $26.89, for a total value of $90,915.09. Following the transaction, the director owned 25,857 shares in the company, valued at approximately $695,294.73. This represents a 11.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sarah Butterfass sold 2,704 shares of the business’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 directly owned 38,953 shares of the company’s stock, valued at $1,047,835.70. This represents a 6.49% 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 have sold a total of 12,085 shares of company stock worth $318,703 in the last quarter. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of NETGEAR

Institutional investors have recently bought and sold shares of the business. Allianz Asset Management GmbH boosted its holdings in NETGEAR by 169.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 109,322 shares of the communications equipment provider’s stock valued at $3,541,000 after purchasing an additional 68,683 shares during the period. Leuthold Group LLC bought a new stake in NETGEAR in the 3rd quarter valued at about $3,309,000. Anchor Capital Advisors LLC bought a new stake in NETGEAR in the 4th quarter valued at about $2,131,000. Cinctive Capital Management LP bought a new stake in NETGEAR in the 3rd quarter valued at about $6,433,000. Finally, Sierra Summit Advisors LLC bought a new stake in NETGEAR in the 3rd quarter valued at about $1,079,000. Institutional investors own 82.97% of the company’s stock.

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.