Michael F. Falcon Sells 521 Shares of NETGEAR, Inc. (NTGR) Stock
NETGEAR, Inc. (NASDAQ:NTGR) SVP Michael F. Falcon sold 521 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $46.00, for a total transaction of $23,966.00. Following the sale, the senior vice president now directly owns 34,612 shares of the company’s stock, valued at approximately $1,592,152. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
NETGEAR, Inc. (NASDAQ:NTGR) traded up $2.90 during mid-day trading on Thursday, reaching $49.60. 293,698 shares of the company were exchanged, compared to its average volume of 483,376. The firm has a market cap of $1,436.60, a PE ratio of 18.33 and a beta of 1.50. NETGEAR, Inc. has a twelve month low of $41.50 and a twelve month high of $59.92.
NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, October 25th. The communications equipment provider reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.13. The business had revenue of $355.48 million during the quarter, compared to analysts’ expectations of $349.36 million. NETGEAR had a net margin of 5.33% and a return on equity of 10.57%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 EPS. equities research analysts anticipate that NETGEAR, Inc. will post 2.24 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in NTGR. BlackRock Inc. increased its position in NETGEAR by 38,710.4% in the 1st quarter. BlackRock Inc. now owns 4,184,534 shares of the communications equipment provider’s stock valued at $207,344,000 after acquiring an additional 4,173,752 shares during the period. Royce & Associates LP increased its position in NETGEAR by 43,220.6% in the 2nd quarter. Royce & Associates LP now owns 779,771 shares of the communications equipment provider’s stock valued at $33,608,000 after acquiring an additional 777,971 shares during the period. Bank of New York Mellon Corp increased its position in NETGEAR by 33.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,720,748 shares of the communications equipment provider’s stock valued at $74,165,000 after acquiring an additional 429,429 shares during the period. Alliancebernstein L.P. increased its position in NETGEAR by 28.2% in the 2nd quarter. Alliancebernstein L.P. now owns 1,417,760 shares of the communications equipment provider’s stock valued at $61,105,000 after acquiring an additional 311,735 shares during the period. Finally, Marshall Wace North America L.P. acquired a new position in NETGEAR in the 2nd quarter valued at approximately $12,722,000. Hedge funds and other institutional investors own 98.18% of the company’s stock.
A number of equities analysts recently issued reports on NTGR shares. BWS Financial upgraded shares of NETGEAR from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Monday, October 9th. Zacks Investment Research cut shares of NETGEAR from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. NETGEAR has an average rating of “Hold” and a consensus price target of $62.75.
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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