NETGEAR (NASDAQ:NTGR) Shares Pass Above 200-Day Moving Average – Should You Sell?

NETGEAR, Inc. (NASDAQ:NTGR)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $23.43 and traded as high as $23.98. NETGEAR shares last traded at $22.78, with a volume of 395,091 shares changing hands.

Wall Street Analysts Forecast Growth

NTGR has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of NETGEAR in a research note on Wednesday. Wall Street Zen raised shares of NETGEAR from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Zacks Research raised shares of NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $36.00.

NETGEAR Stock Performance

The stock has a market cap of $613.03 million, a PE ratio of -25.95 and a beta of 1.17. The business has a 50-day moving average of $25.16 and a 200 day moving average of $23.42.

NETGEAR (NASDAQ:NTGR) last announced its earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.14. NETGEAR had a negative net margin of 3.58% and a negative return on equity of 2.71%. The firm had revenue of $158.82 million during the quarter, compared to the consensus estimate of $152.49 million. During the same quarter in the previous year, the company posted $0.02 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities analysts expect that NETGEAR, Inc. will post -0.5 EPS for the current fiscal year.

Insider Activity

In related news, Director Sarah Butterfass sold 2,704 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $26.90, for a total transaction of $72,737.60. Following the transaction, the director owned 38,953 shares of the company’s stock, valued at approximately $1,047,835.70. This represents a 6.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pramod Badjate sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $25.47, for a total transaction of $76,410.00. Following the sale, the insider owned 165,513 shares in the company, valued at approximately $4,215,616.11. This trade represents a 1.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 12,085 shares of company stock worth $318,703. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On NETGEAR

Several hedge funds have recently made changes to their positions in NTGR. Johnson Financial Group Inc. purchased a new stake in shares of NETGEAR in the fourth quarter valued at $25,000. Comerica Bank lifted its position in NETGEAR by 64.8% during the third quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock worth $35,000 after buying an additional 429 shares during the period. IFP Advisors Inc boosted its stake in NETGEAR by 161.7% in the 4th quarter. IFP Advisors Inc now owns 2,243 shares of the communications equipment provider’s stock worth $55,000 after buying an additional 1,386 shares during the last quarter. Fifth Third Bancorp boosted its stake in NETGEAR by 6,085.7% in the 1st quarter. Fifth Third Bancorp now owns 3,031 shares of the communications equipment provider’s stock worth $66,000 after buying an additional 2,982 shares during the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new stake in NETGEAR in the 4th quarter worth about $89,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

NETGEAR Company Profile

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.