Netgear Inc. (NTGR) SVP Sells $62,134.46 in Stock
Netgear Inc. (NASDAQ:NTGR) SVP Michael F. Falcon sold 1,042 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $59.63, for a total value of $62,134.46. Following the completion of the sale, the senior vice president now owns 35,870 shares of the company’s stock, valued at $2,138,928.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Netgear Inc. (NASDAQ:NTGR) opened at 58.42 on Tuesday. The stock’s 50 day moving average price is $57.67 and its 200-day moving average price is $48.18. Netgear Inc. has a 12 month low of $30.59 and a 12 month high of $60.82. The firm has a market cap of $1.91 billion, a P/E ratio of 27.79 and a beta of 1.92.
Netgear (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.12. The company earned $311.66 million during the quarter, compared to analyst estimates of $298.87 million. Netgear had a net margin of 5.25% and a return on equity of 12.06%. The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business posted $0.29 earnings per share. Equities research analysts anticipate that Netgear Inc. will post $2.96 earnings per share for the current fiscal year.
A number of research firms have weighed in on NTGR. Zacks Investment Research downgraded Netgear from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Vetr upgraded Netgear from a “hold” rating to a “buy” rating and set a $61.09 target price for the company in a research report on Wednesday, September 21st. Wunderlich began coverage on Netgear in a research report on Wednesday, June 8th. They issued a “buy” rating and a $55.00 target price for the company. Rosenblatt Securities downgraded Netgear from a “buy” rating to a “neutral” rating and set a $47.50 target price for the company. in a research report on Tuesday, July 12th. Finally, BWS Financial upped their target price on Netgear from $50.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $53.40.
Several hedge funds have recently bought and sold shares of the company. FMR LLC raised its stake in Netgear by 39.7% in the second quarter. FMR LLC now owns 2,866,848 shares of the company’s stock valued at $136,290,000 after buying an additional 814,166 shares during the last quarter. Riverhead Capital Management LLC raised its stake in Netgear by 5,182.0% in the second quarter. Riverhead Capital Management LLC now owns 439,516 shares of the company’s stock valued at $10,807,000 after buying an additional 431,195 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in Netgear during the second quarter valued at $14,271,000. Rothschild Asset Management Inc. purchased a new stake in Netgear during the second quarter valued at $13,343,000. Finally, Prudential Financial Inc. raised its stake in Netgear by 77.6% in the first quarter. Prudential Financial Inc. now owns 498,537 shares of the company’s stock valued at $20,126,000 after buying an additional 217,800 shares during the last quarter. 99.48% of the stock is owned by institutional investors.
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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