Netgear Inc. (NTGR) Upgraded to Hold by Zacks Investment Research
According to Zacks, “Netgear Inc designs technologically advanced, branded networking products that address the specific needs of small business and home users. The company’s suite of products enables users to share Internet access, peripherals, files, digital multimedia content and applications among multiple personal computers and other Internet-enabled devices. “
Several other equities research analysts have also commented on NTGR. Rosenblatt Securities raised shares of Netgear from a neutral rating to a buy rating and set a $61.00 price target for the company in a report on Thursday, October 27th. Vetr raised shares of Netgear from a hold rating to a buy rating and set a $61.09 price target for the company in a report on Wednesday, September 21st. BWS Financial boosted their price target on shares of Netgear from $50.00 to $64.00 and gave the stock a buy rating in a report on Thursday, July 28th. Finally, Wunderlich boosted their price target on shares of Netgear from $58.00 to $66.00 and gave the stock a buy rating in a report on Thursday, September 8th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $55.16.
Netgear (NASDAQ:NTGR) traded down 1.55% on Tuesday, reaching $50.95. 183,124 shares of the company traded hands. The stock has a 50 day moving average of $53.28 and a 200-day moving average of $50.90. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 22.58 and a beta of 1.68. Netgear has a 1-year low of $33.39 and a 1-year high of $60.82.
Netgear (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. The company earned $338.50 million during the quarter, compared to analyst estimates of $323.82 million. Netgear had a net margin of 5.72% and a return on equity of 12.20%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 EPS. On average, equities analysts anticipate that Netgear will post $3.00 EPS for the current year.
In other Netgear news, SVP Tamesa Rogers sold 650 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $57.16, for a total value of $37,154.00. Following the transaction, the senior vice president now owns 13,525 shares of the company’s stock, valued at $773,089. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael F. Falcon sold 521 shares of the company’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $57.93, for a total transaction of $30,181.53. Following the completion of the transaction, the senior vice president now directly owns 35,870 shares in the company, valued at approximately $2,077,949.10. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Netgear by 7.0% in the second quarter. Vanguard Group Inc. now owns 2,890,854 shares of the company’s stock worth $137,431,000 after buying an additional 189,300 shares during the last quarter. FMR LLC boosted its position in Netgear by 39.7% in the second quarter. FMR LLC now owns 2,866,848 shares of the company’s stock worth $136,290,000 after buying an additional 814,166 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Netgear by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,721,426 shares of the company’s stock worth $129,375,000 after buying an additional 11,749 shares during the last quarter. BlackRock Fund Advisors boosted its position in Netgear by 8.3% in the third quarter. BlackRock Fund Advisors now owns 2,300,585 shares of the company’s stock worth $139,162,000 after buying an additional 176,769 shares during the last quarter. Finally, LSV Asset Management boosted its position in Netgear by 0.6% in the second quarter. LSV Asset Management now owns 1,658,973 shares of the company’s stock worth $78,867,000 after buying an additional 9,882 shares during the last quarter. 94.80% of the stock is currently 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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