Michael F. Falcon Sells 14,912 Shares of NETGEAR, Inc. (NTGR) Stock
NETGEAR, Inc. (NASDAQ:NTGR) SVP Michael F. Falcon sold 14,912 shares of the business’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $49.94, for a total value of $744,705.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
NETGEAR, Inc. (NASDAQ NTGR) opened at 49.70 on Friday. NETGEAR, Inc. has a 12-month low of $41.50 and a 12-month high of $59.93. The stock’s 50 day moving average price is $47.69 and its 200 day moving average price is $46.49. The company has a market cap of $1.57 billion, a PE ratio of 22.81 and a beta of 1.53.
NETGEAR (NASDAQ:NTGR) last released its earnings results on Wednesday, July 26th. The communications equipment provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.54 by $0.06. NETGEAR had a return on equity of 10.67% and a net margin of 5.42%. The business had revenue of $330.72 million during the quarter, compared to analysts’ expectations of $324.64 million. During the same quarter last year, the firm posted $0.72 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. Equities research analysts anticipate that NETGEAR, Inc. will post $2.74 EPS for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. grew its stake in NETGEAR by 17.1% in the first quarter. Envestnet Asset Management Inc. now owns 2,080 shares of the communications equipment provider’s stock valued at $103,000 after acquiring an additional 304 shares during the period. Victory Capital Management Inc. grew its stake in NETGEAR by 42.8% in the first quarter. Victory Capital Management Inc. now owns 2,724 shares of the communications equipment provider’s stock valued at $135,000 after acquiring an additional 817 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in NETGEAR in the first quarter valued at approximately $139,000. US Bancorp DE grew its stake in NETGEAR by 9.2% in the first quarter. US Bancorp DE now owns 3,243 shares of the communications equipment provider’s stock valued at $161,000 after acquiring an additional 272 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. grew its stake in NETGEAR by 364.8% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 3,500 shares of the communications equipment provider’s stock valued at $173,000 after acquiring an additional 2,747 shares during the period. 98.89% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered NETGEAR from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Global Equities Research restated a “buy” rating and set a $85.00 target price on shares of NETGEAR in a research report on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. NETGEAR currently has a consensus rating of “Hold” and a consensus price target of $62.56.
NETGEAR Company Profile
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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