Netgear Inc. (NASDAQ:NTGR) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday. The firm presently has a $60.73 price target on the stock. Vetr‘s price target indicates a potential upside of 12.26% from the company’s current price.

Other analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Netgear from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Wunderlich increased their target price on shares of Netgear from $58.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, September 8th. Rosenblatt Securities reiterated 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. BWS Financial cut shares of 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 research note on Monday, October 3rd. Finally, Citigroup Inc. cut shares of Netgear to a “neutral” rating and set a $47.50 target price on the stock. in a research note on Tuesday, July 12th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $53.36.

Analyst Recommendations for Netgear (NASDAQ:NTGR)

Shares of Netgear (NASDAQ:NTGR) traded down 2.10% during mid-day trading on Tuesday, hitting $54.10. 462,560 shares of the company traded hands. The firm’s 50 day moving average price is $57.55 and its 200-day moving average price is $48.78. Netgear has a 1-year low of $31.65 and a 1-year high of $60.82. The stock has a market capitalization of $1.77 billion, a PE ratio of 25.74 and a beta of 1.92.

Netgear (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 EPS 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 the consensus estimate of $298.87 million. Netgear had a net margin of 5.25% and a return on equity of 12.06%. Netgear’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the firm earned $0.29 EPS. On average, equities research analysts forecast that Netgear will post $2.96 EPS for the current year.

In related news, CFO Christine Marie Gorjanc sold 7,329 shares of the stock in a transaction on Monday, July 18th. The shares were sold at an average price of $50.07, for a total transaction of $366,963.03. Following the transaction, the chief financial officer now owns 80,404 shares of the company’s stock, valued at approximately $4,025,828.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Michael F. Falcon sold 1,042 shares of the stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $59.63, for a total transaction of $62,134.46. Following the transaction, the senior vice president now directly owns 35,870 shares in the company, valued at approximately $2,138,928.10. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. First Mercantile Trust Co. raised its position in Netgear by 196.3% in the third quarter. First Mercantile Trust Co. now owns 5,630 shares of the company’s stock valued at $341,000 after buying an additional 3,730 shares in the last quarter. Macquarie Group Ltd. raised its position in Netgear by 27.4% in the second quarter. Macquarie Group Ltd. now owns 293,992 shares of the company’s stock valued at $13,976,000 after buying an additional 63,259 shares in the last quarter. Mason Street Advisors LLC acquired a new position in Netgear during the second quarter valued at approximately $303,000. Royal Bank of Canada raised its position in Netgear by 63.8% in the second quarter. Royal Bank of Canada now owns 5,740 shares of the company’s stock valued at $273,000 after buying an additional 2,235 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Netgear by 8.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 339,175 shares of the company’s stock valued at $16,125,000 after buying an additional 26,881 shares in the last quarter. 99.48% of the stock is currently owned by institutional investors.

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.

5 Day Chart for NASDAQ:NTGR

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