Netgear Inc. (NTGR) Upgraded to Buy by Vetr Inc.
A number of other equities analysts have also weighed in on the company. BWS Financial lowered Netgear from a buy rating to a hold rating and decreased their target price for the stock from $64.00 to $60.00 in a research note on Monday. Rosenblatt Securities restated a neutral rating and issued a $61.00 target price (up from $55.00) on shares of Netgear in a research note on Wednesday, September 28th. Zacks Investment Research lowered Netgear from a strong-buy rating to a hold rating in a research note on Wednesday, September 28th. Wunderlich upped their price objective on Netgear from $58.00 to $66.00 and gave the stock a buy rating in a report on Thursday, September 8th. Finally, Citigroup Inc. cut Netgear to a neutral rating and set a $47.50 price objective for the company. in a report on Tuesday, July 12th. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Netgear currently has an average rating of Hold and an average target price of $53.36.
Shares of Netgear (NASDAQ:NTGR) opened at 54.94 on Tuesday. The company has a 50-day moving average price of $57.65 and a 200 day moving average price of $48.29. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 26.14 and a beta of 1.92. Netgear has a 1-year low of $30.95 and a 1-year high of $60.82.
Netgear (NASDAQ:NTGR) last announced its earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.12. The business had revenue of $311.66 million for the quarter, compared to analyst estimates of $298.87 million. Netgear had a return on equity of 12.06% and a net margin of 5.25%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.29 EPS. On average, equities research analysts predict that Netgear will post $2.96 EPS for the current year.
In related news, SVP Michael A. Werdann sold 1,348 shares of the stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $49.54, for a total transaction of $66,779.92. Following the completion of the sale, the senior vice president now directly owns 24,750 shares in the company, valued at approximately $1,226,115. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christine Marie Gorjanc sold 7,329 shares of the stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $50.07, for a total value of $366,963.03. Following the sale, the chief financial officer now owns 80,404 shares of the company’s stock, valued at $4,025,828.28. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company’s stock.
A number of large investors have recently modified their holdings of NTGR. Glenmede Trust Co. NA raised its position in Netgear by 6,330.6% in the first quarter. Glenmede Trust Co. NA now owns 11,575 shares of the company’s stock worth $466,000 after buying an additional 11,395 shares during the last quarter. Aperio Group LLC raised its position in Netgear by 5.7% in the first quarter. Aperio Group LLC now owns 8,871 shares of the company’s stock worth $358,000 after buying an additional 476 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Netgear during the first quarter worth approximately $216,000. TIAA CREF Investment Management LLC raised its position in Netgear by 5.8% in the first quarter. TIAA CREF Investment Management LLC now owns 231,418 shares of the company’s stock worth $9,342,000 after buying an additional 12,748 shares during the last quarter. Finally, Teachers Advisors Inc. raised its position in Netgear by 31.1% in the first quarter. Teachers Advisors Inc. now owns 279,231 shares of the company’s stock worth $11,273,000 after buying an additional 66,305 shares during the last quarter. Institutional investors 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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