Analysts Set NETGEAR, Inc. (NASDAQ:NTGR) PT at $36.00

NETGEAR, Inc. (NASDAQ:NTGR) has earned an average rating of “Hold” from the four research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $36.00.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a report on Wednesday, June 24th.

NETGEAR Stock Down 0.7%

NTGR stock opened at $24.38 on Thursday. The business has a 50 day moving average of $23.79 and a 200 day moving average of $23.21. The firm has a market cap of $654.36 million, a PE ratio of -27.70 and a beta of 1.20. NETGEAR has a twelve month low of $19.00 and a twelve month high of $36.86.

Insiders Place Their Bets

In related news, Director Shravan Goli sold 3,381 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $26.89, for a total value of $90,915.09. Following the completion of the sale, the director directly owned 25,857 shares in the company, valued at $695,294.73. This trade represents a 11.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sarah Butterfass sold 2,704 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $26.90, for a total value of $72,737.60. Following the sale, the director directly owned 38,953 shares of the company’s stock, valued at $1,047,835.70. This represents a 6.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 12,085 shares of company stock worth $313,933 over the last quarter. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Comerica Bank raised its holdings in shares of NETGEAR by 64.8% in the third quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock worth $35,000 after acquiring an additional 429 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of NETGEAR by 6.4% during the 1st quarter. Cetera Investment Advisers now owns 11,996 shares of the communications equipment provider’s stock valued at $262,000 after buying an additional 725 shares during the period. Tower Research Capital LLC TRC lifted its position in NETGEAR by 35.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the communications equipment provider’s stock worth $101,000 after acquiring an additional 904 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in NETGEAR in the fourth quarter valued at approximately $25,000. Finally, Rhumbline Advisers lifted its position in shares of NETGEAR by 2.3% during the second quarter. Rhumbline Advisers now owns 51,678 shares of the communications equipment provider’s stock worth $1,502,000 after purchasing an additional 1,140 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

About NETGEAR

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.