Michael F. Falcon Sells 521 Shares of Netgear Inc. (NTGR) Stock
Netgear Inc. (NASDAQ:NTGR) SVP Michael F. Falcon sold 521 shares of Netgear stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $51.40, for a total transaction of $26,779.40. Following the transaction, the senior vice president now directly owns 30,870 shares of the company’s stock, valued at $1,586,718. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Netgear Inc. (NASDAQ:NTGR) opened at 51.35 on Monday. Netgear Inc. has a 1-year low of $33.39 and a 1-year high of $60.82. The firm has a market cap of $1.70 billion, a P/E ratio of 22.76 and a beta of 1.68. The company has a 50-day moving average price of $52.62 and a 200-day moving average price of $50.96.
Netgear (NASDAQ:NTGR) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The business earned $338.50 million during the quarter, compared to analyst estimates of $323.82 million. Netgear had a return on equity of 12.20% and a net margin of 5.72%. Netgear’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 EPS. On average, equities research analysts forecast that Netgear Inc. will post $3.00 EPS for the current fiscal year.
A number of equities analysts have commented on NTGR shares. Vetr raised shares of Netgear from a “hold” rating to a “buy” rating and set a $61.09 price objective for the company in a research report on Wednesday, September 21st. Zacks Investment Research downgraded Netgear from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 28th. Wunderlich lifted 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. Rosenblatt Securities raised Netgear from a “neutral” rating to a “buy” rating and set a $61.00 target price for the company in a report on Thursday, October 27th. Finally, BWS Financial downgraded Netgear from a “buy” rating to a “hold” rating and dropped their target price for the stock from $64.00 to $60.00 in a report on Monday, October 3rd. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $57.04.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. acquired a new position in shares of Netgear during the third quarter worth about $116,000. Victory Capital Management Inc. increased its position in shares of Netgear by 29.3% in the third quarter. Victory Capital Management Inc. now owns 1,954 shares of the company’s stock worth $118,000 after buying an additional 443 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Netgear by 949.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,791 shares of the company’s stock worth $133,000 after buying an additional 2,525 shares during the period. SECOR Capital Advisors LP acquired a new position in shares of Netgear during the third quarter worth about $211,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Netgear during the third quarter worth about $218,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.
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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