Netgear Inc. (NTGR) Cut to Hold at BWS Financial
Netgear Inc. (NASDAQ:NTGR) was downgraded by BWS Financial from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday. They presently have a $60.00 target price on the stock, down from their previous target price of $64.00. BWS Financial’s price objective indicates a potential downside of 0.81% from the company’s current price.
A number of other analysts also recently issued reports on NTGR. Zacks Investment Research downgraded shares of Netgear from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 29th. Vetr raised shares of Netgear from a “hold” rating to a “buy” rating and set a $61.09 price target on the stock in a report on Wednesday, September 21st. Wunderlich assumed coverage on shares of Netgear in a report on Wednesday, June 8th. They set a “buy” rating and a $55.00 price target on the stock. Finally, Rosenblatt Securities downgraded shares of Netgear from a “buy” rating to a “neutral” rating and set a $47.50 price objective on the stock. in a report on Tuesday, July 12th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $53.40.
Netgear (NASDAQ:NTGR) opened at 60.49 on Monday. The stock has a market capitalization of $1.98 billion, a PE ratio of 28.78 and a beta of 1.92. The firm has a 50 day moving average of $57.56 and a 200-day moving average of $47.93. Netgear has a 52 week low of $28.69 and a 52 week high of $60.82.
Netgear (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.12. Netgear had a net margin of 5.25% and a return on equity of 12.06%. The firm had revenue of $311.66 million for the quarter, compared to the consensus estimate of $298.87 million. During the same period in the prior year, the firm posted $0.29 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities analysts predict that Netgear will post $2.96 EPS for the current year.
In other news, SVP Michael F. Falcon sold 1,040 shares of the stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $47.70, for a total value of $49,608.00. Following the completion of the sale, the senior vice president now directly owns 35,869 shares in the company, valued at $1,710,951.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Andrew Wonki Kim sold 19,062 shares of the stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $59.57, for a total transaction of $1,135,523.34. Following the completion of the sale, the senior vice president now owns 21,710 shares of the company’s stock, valued at $1,293,264.70. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Netgear by 7.0% in the second quarter. Vanguard Group Inc. now owns 2,890,854 shares of the company’s stock worth $137,431,000 after buying an additional 189,300 shares during the period. FMR LLC boosted its stake in shares of Netgear by 39.7% in the second quarter. FMR LLC now owns 2,866,848 shares of the company’s stock worth $136,290,000 after buying an additional 814,166 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Netgear by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,721,426 shares of the company’s stock worth $129,375,000 after buying an additional 11,749 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Netgear by 4.0% in the second quarter. BlackRock Fund Advisors now owns 2,123,816 shares of the company’s stock worth $100,966,000 after buying an additional 80,868 shares during the period. Finally, LSV Asset Management boosted its stake in shares of Netgear by 0.6% in the second quarter. LSV Asset Management now owns 1,658,973 shares of the company’s stock worth $78,867,000 after buying an additional 9,882 shares during the period. Institutional investors and hedge funds own 99.48% of the company’s stock.
NETGEAR, Inc is a global networking company. The Company’s product line consists of devices, such as network attached storage, Internet protocol security cameras, and home automation devices and services. Its segments include retail, commercial and service provider. The retail business unit consists of home networking, home video security, storage and digital media products.
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