NetGear (NTGR) Upgraded at BidaskClub
NetGear (NASDAQ:NTGR) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.
A number of other brokerages also recently issued reports on NTGR. Zacks Investment Research downgraded NetGear from a “hold” rating to a “sell” rating in a report on Friday, October 13th. BWS Financial upgraded NetGear from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. NetGear currently has a consensus rating of “Hold” and a consensus target price of $62.75.
NetGear (NASDAQ NTGR) opened at $54.00 on Thursday. The company has a market capitalization of $1,680.00, a price-to-earnings ratio of 21.06 and a beta of 1.52. NetGear has a fifty-two week low of $41.50 and a fifty-two week high of $58.50.
In other news, insider Mark G. Merrill sold 3,000 shares of NetGear stock in a transaction on Friday, September 15th. The stock was sold at an average price of $46.55, for a total value of $139,650.00. Following the transaction, the insider now directly owns 32,534 shares in the company, valued at approximately $1,514,457.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Tamesa Rogers sold 1,500 shares of NetGear stock in a transaction on Monday, October 9th. The shares were sold at an average price of $49.80, for a total value of $74,700.00. The disclosure for this sale can be found here. Insiders sold a total of 102,888 shares of company stock worth $5,006,231 over the last quarter. Company insiders own 6.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. grew its stake in NetGear by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,206 shares of the communications equipment provider’s stock worth $138,000 after buying an additional 482 shares during the last quarter. Amalgamated Bank purchased a new position in NetGear during the 3rd quarter worth $207,000. M&T Bank Corp grew its stake in NetGear by 31.5% during the 2nd quarter. M&T Bank Corp now owns 5,428 shares of the communications equipment provider’s stock worth $234,000 after buying an additional 1,300 shares during the last quarter. K.J. Harrison & Partners Inc purchased a new position in NetGear during the 3rd quarter worth $286,000. Finally, First Mercantile Trust Co. grew its stake in NetGear by 12.4% during the 2nd quarter. First Mercantile Trust Co. now owns 6,038 shares of the communications equipment provider’s stock worth $260,000 after buying an additional 668 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This story was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another domain, it was illegally copied and reposted in violation of US and international trademark and copyright legislation. The correct version of this story can be accessed at https://www.thecerbatgem.com/2017/12/14/netgear-ntgr-upgraded-at-bidaskclub.html.
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.
Receive News & Ratings for NetGear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetGear and related companies with MarketBeat.com's FREE daily email newsletter.