Netgear Inc. (NTGR) Director Sells $51,550.00 in Stock
Netgear Inc. (NASDAQ:NTGR) Director Miller Joycelyn Carter sold 1,000 shares of Netgear stock in a transaction on Monday, October 17th. The shares were sold at an average price of $51.55, for a total value of $51,550.00. Following the transaction, the director now owns 9,826 shares in the company, valued at $506,530.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Netgear Inc. (NASDAQ:NTGR) traded up 0.67% during midday trading on Tuesday, hitting $52.70. The stock had a trading volume of 260,050 shares. The stock has a market cap of $1.73 billion, a PE ratio of 25.07 and a beta of 1.92. The firm has a 50 day moving average price of $56.89 and a 200-day moving average price of $49.22. Netgear Inc. has a 52-week low of $31.96 and a 52-week high of $60.82.
Netgear (NASDAQ:NTGR) last released its earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the 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 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 earned $0.29 EPS. The firm’s revenue was up 7.9% on a year-over-year basis. Equities analysts predict that Netgear Inc. will post $2.96 EPS for the current fiscal year.
Several research firms recently weighed in on NTGR. Vetr upgraded Netgear from a “buy” rating to a “strong-buy” rating and set a $60.73 target price on the stock in a research report on Tuesday, October 11th. BWS Financial downgraded Netgear from a “buy” rating to a “hold” rating and lowered their target price for the company from $64.00 to $60.00 in a research report on Monday, October 3rd. Rosenblatt Securities reiterated a “neutral” rating and set a $61.00 target price (up from $55.00) on shares of Netgear in a research report on Wednesday, September 28th. Zacks Investment Research downgraded Netgear from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Finally, Wunderlich boosted their price objective on Netgear from $58.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, September 8th. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $53.36.
Several institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its position in Netgear by 949.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,791 shares of the company’s stock valued at $133,000 after buying an additional 2,525 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Netgear by 33.6% in the first quarter. Royal Bank of Canada now owns 3,505 shares of the company’s stock valued at $141,000 after buying an additional 882 shares in the last quarter. Amalgamated Bank bought a new stake in shares of Netgear during the second quarter valued at $208,000. PineBridge Investments L.P. increased its stake 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 valued at $197,000 after buying an additional 169 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of Netgear by 24.0% in the second quarter. Teacher Retirement System of Texas now owns 4,547 shares of the company’s stock valued at $216,000 after buying an additional 879 shares in the last quarter. 99.37% of the stock is currently owned by hedge funds and other 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.
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