Michael F. Falcon Sells 521 Shares of NetGear, Inc. (NTGR) Stock
NetGear, Inc. (NASDAQ:NTGR) SVP Michael F. Falcon sold 521 shares of the firm’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $72.80, for a total transaction of $37,928.80. Following the transaction, the senior vice president now directly owns 41,326 shares in the company, valued at $3,008,532.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of NTGR stock opened at $73.25 on Wednesday. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 31.57 and a beta of 1.99. NetGear, Inc. has a 52 week low of $44.20 and a 52 week high of $78.30.
NetGear (NASDAQ:NTGR) last announced its quarterly earnings data on Monday, July 23rd. The communications equipment provider reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06. The business had revenue of $366.80 million for the quarter, compared to analyst estimates of $350.60 million. NetGear had a negative net margin of 0.74% and a positive return on equity of 9.97%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. equities analysts forecast that NetGear, Inc. will post 2.2 EPS for the current year.
Several analysts have commented on the stock. Guggenheim reaffirmed a “buy” rating on shares of NetGear in a research report on Tuesday. BidaskClub raised shares of NetGear from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 10th. BWS Financial lifted their price objective on shares of NetGear from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, July 9th. TheStreet lowered shares of NetGear from a “b-” rating to a “c+” rating in a research report on Monday, August 13th. Finally, Zacks Investment Research raised shares of NetGear from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 27th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $67.75.
NETGEAR, Inc engages in the provision of Internet connected products to consumers, businesses, and service providers. It operates through the following business segments: Arlo, Connected Home, and SMB. The Arlo segment offers internet-connected products for consumers and businesses that provide security and safety.
Further Reading: Outstanding Shares
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