NETGEAR, Inc. (NTGR) Lifted to “Buy” at BWS Financial
BWS Financial upgraded shares of NETGEAR, Inc. (NASDAQ:NTGR) from a hold rating to a buy rating in a report released on Monday. They currently have $60.00 price objective on the communications equipment provider’s stock. BWS Financial also issued estimates for NETGEAR’s Q3 2017 earnings at $0.54 EPS and FY2017 earnings at $2.26 EPS.
Other equities analysts have also recently issued research reports about the company. Global Equities Research reiterated a buy rating and set a $85.00 price target on shares of NETGEAR in a report on Tuesday, June 13th. Zacks Investment Research cut NETGEAR from a hold rating to a sell rating in a report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $62.13.
NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, July 26th. The communications equipment provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates 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 company posted $0.72 earnings per share. NETGEAR’s quarterly revenue was up 6.1% on a year-over-year basis.
In other NETGEAR news, SVP Michael A. Werdann sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $45.35, for a total transaction of $34,012.50. Following the completion of the sale, the senior vice president now directly owns 26,625 shares in the company, valued at $1,207,443.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Patrick Cs Lo sold 4,000 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold 88,722 shares of company stock valued at $4,260,177 over the last 90 days. Company insiders own 6.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brandes Investment Partners LP acquired a new stake in shares of NETGEAR in the second quarter valued at approximately $2,293,000. SG Americas Securities LLC raised its position in shares of NETGEAR by 55.0% in the first quarter. SG Americas Securities LLC now owns 7,646 shares of the communications equipment provider’s stock valued at $379,000 after buying an additional 2,714 shares in the last quarter. Eaton Vance Management raised its position in shares of NETGEAR by 193.6% in the second quarter. Eaton Vance Management now owns 271,238 shares of the communications equipment provider’s stock valued at $11,690,000 after buying an additional 178,855 shares in the last quarter. Morgan Stanley raised its position in shares of NETGEAR by 62.8% in the first quarter. Morgan Stanley now owns 298,144 shares of the communications equipment provider’s stock valued at $14,772,000 after buying an additional 115,015 shares in the last quarter. Finally, Tudor Investment Corp ET AL raised its position in shares of NETGEAR by 5.9% in the first quarter. Tudor Investment Corp ET AL now owns 9,000 shares of the communications equipment provider’s stock valued at $446,000 after buying an additional 500 shares in the last quarter. Institutional investors own 98.89% of the company’s stock.
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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