Brokerages Set Netgear Inc. (NASDAQ:NTGR) Target Price at $52.45
Netgear Inc. (NASDAQ:NTGR) has earned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the company. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $52.40.
Several brokerages have weighed in on NTGR. Vetr upgraded Netgear from a “hold” rating to a “buy” rating and set a $60.73 target price for the company in a report on Tuesday. BWS Financial cut Netgear from a “buy” rating to a “hold” rating and lowered their target price for the stock from $64.00 to $60.00 in a report on Monday. Rosenblatt Securities reiterated a “neutral” rating and issued a $61.00 target price (up from $55.00) on shares of Netgear in a report on Wednesday, September 28th. Zacks Investment Research cut Netgear from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 28th. Finally, Wunderlich upped their target price on Netgear from $58.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, September 8th.
Netgear (NASDAQ:NTGR) opened at 55.93 on Tuesday. The company’s 50 day moving average price is $57.65 and its 200-day moving average price is $48.39. Netgear has a one year low of $31.65 and a one year high of $60.82. The company has a market cap of $1.83 billion, a P/E ratio of 26.61 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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.12. Netgear had a return on equity of 12.06% and a net margin of 5.25%. The company earned $311.66 million during the quarter, compared to analysts’ expectations of $298.87 million. During the same quarter in the previous year, the business earned $0.29 EPS. Netgear’s revenue was up 7.9% compared to the same quarter last year. On average, analysts forecast that Netgear will post $2.96 EPS for the current fiscal year.
In other 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 value of $66,779.92. Following the transaction, the senior vice president now directly owns 24,750 shares of the company’s stock, valued at $1,226,115. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Patrick J. Collins III sold 11,061 shares of the stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $48.91, for a total value of $540,993.51. Following the completion of the transaction, the senior vice president now directly owns 20,753 shares in the company, valued at $1,015,029.23. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its position in shares of Netgear by 0.5% in the second quarter. Nisa Investment Advisors LLC now owns 30,350 shares of the company’s stock worth $1,443,000 after buying an additional 150 shares in the last quarter. PineBridge Investments L.P. raised its position in shares of Netgear by 4.3% in the second quarter. PineBridge Investments L.P. now owns 4,130 shares of the company’s stock worth $197,000 after buying an additional 169 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Netgear by 3.3% in the second quarter. O Shaughnessy Asset Management LLC now owns 6,198 shares of the company’s stock worth $295,000 after buying an additional 199 shares in the last quarter. Clinton Group Inc. raised its position in shares of Netgear by 2.8% in the second quarter. Clinton Group Inc. now owns 10,384 shares of the company’s stock worth $494,000 after buying an additional 281 shares in the last quarter. Finally, Suntrust Banks Inc. raised its position in shares of Netgear by 5.7% in the second quarter. Suntrust Banks Inc. now owns 5,368 shares of the company’s stock worth $255,000 after buying an additional 289 shares in the last quarter. 99.48% of the stock is currently owned by institutional investors and hedge funds.
Netgear Company Profile
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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