Insider Selling: NETGEAR, Inc. (NASDAQ:NTGR) Chairman Sells 4,000 Shares of Stock
NETGEAR, Inc. (NASDAQ:NTGR) Chairman Patrick Cs Lo sold 4,000 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $45.00, for a total transaction of $180,000.00. Following the sale, the chairman now owns 183,125 shares of the company’s stock, valued at $8,240,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Patrick Cs Lo also recently made the following trade(s):
- On Tuesday, August 1st, Patrick Cs Lo sold 9,900 shares of NETGEAR stock. The stock was sold at an average price of $47.83, for a total transaction of $473,517.00.
- On Monday, July 3rd, Patrick Cs Lo sold 5,900 shares of NETGEAR stock. The shares were sold at an average price of $43.39, for a total transaction of $256,001.00.
- On Wednesday, June 7th, Patrick Cs Lo sold 4,000 shares of NETGEAR stock. The shares were sold at an average price of $45.00, for a total transaction of $180,000.00.
- On Monday, May 1st, Patrick Cs Lo sold 9,900 shares of NETGEAR stock. The shares were sold at an average price of $46.79, for a total transaction of $463,221.00.
Shares of NETGEAR, Inc. (NASDAQ:NTGR) opened at 46.45 on Monday. The stock has a market cap of $1.50 billion, a P/E ratio of 21.32 and a beta of 1.55. NETGEAR, Inc. has a 12-month low of $41.50 and a 12-month high of $60.82. The company’s 50-day moving average is $44.46 and its 200-day moving average is $48.97.
NETGEAR (NASDAQ:NTGR) last issued its earnings results on Wednesday, July 26th. The communications equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.06. The company had revenue of $330.72 million during the quarter, compared to analysts’ expectations of $324.64 million. NETGEAR had a return on equity of 10.67% and a net margin of 5.42%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 EPS. On average, equities research analysts anticipate that NETGEAR, Inc. will post $2.68 earnings per share for the current year.
NETGEAR declared that its Board of Directors has approved a stock buyback plan on Wednesday, April 26th that allows the company to repurchase 3,000,000 outstanding shares. This repurchase authorization allows the communications equipment provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.
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Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in NETGEAR by 38,710.4% in the first quarter. BlackRock Inc. now owns 4,184,534 shares of the communications equipment provider’s stock valued at $207,344,000 after buying an additional 4,173,752 shares during the last quarter. Norges Bank bought a new stake in shares of NETGEAR during the fourth quarter valued at $30,149,000. Bank of New York Mellon Corp increased its stake in shares of NETGEAR by 54.8% in the first quarter. Bank of New York Mellon Corp now owns 1,291,319 shares of the communications equipment provider’s stock valued at $63,985,000 after buying an additional 456,929 shares during the period. Marshall Wace North America L.P. bought a new stake in shares of NETGEAR during the second quarter valued at $12,722,000. Finally, First Trust Advisors LP increased its stake in shares of NETGEAR by 34.5% in the second quarter. First Trust Advisors LP now owns 1,154,306 shares of the communications equipment provider’s stock valued at $49,751,000 after buying an additional 295,823 shares during the period. 99.59% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on NTGR. Zacks Investment Research lowered shares of NETGEAR from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Global Equities Research reiterated a “buy” rating and issued a $85.00 target price on shares of NETGEAR in a report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $62.48.
NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.
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