NETGEAR, Inc. (NASDAQ:NTGR) Receives $37.33 Consensus PT from Analysts

NETGEAR, Inc. (NASDAQ:NTGR) has been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $37.3333.

A number of equities analysts have commented on the stock. Stifel Nicolaus upped their price objective on shares of NETGEAR from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Zacks Research cut shares of NETGEAR from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a research report on Monday, December 29th. Seaport Res Ptn upgraded NETGEAR to a “strong-buy” rating in a research report on Wednesday, October 1st. Finally, Raymond James Financial increased their target price on NETGEAR from $29.00 to $37.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th.

Insider Buying and Selling at NETGEAR

In other news, insider Pramod Badjate sold 4,000 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $24.60, for a total value of $98,400.00. Following the completion of the transaction, the insider owned 155,361 shares in the company, valued at $3,821,880.60. This trade represents a 2.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Graeme Mclindin sold 1,205 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $34.26, for a total transaction of $41,283.30. Following the completion of the sale, the vice president owned 30,808 shares of the company’s stock, valued at $1,055,482.08. This trade represents a 3.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Pertento Partners LLP grew its holdings in shares of NETGEAR by 6.0% in the 2nd quarter. Pertento Partners LLP now owns 1,691,607 shares of the communications equipment provider’s stock worth $49,175,000 after acquiring an additional 95,955 shares during the period. Dimensional Fund Advisors LP boosted its position in NETGEAR by 5.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,636,697 shares of the communications equipment provider’s stock worth $53,010,000 after purchasing an additional 85,228 shares in the last quarter. Acadian Asset Management LLC grew its holdings in NETGEAR by 0.3% in the second quarter. Acadian Asset Management LLC now owns 1,079,096 shares of the communications equipment provider’s stock valued at $31,354,000 after purchasing an additional 3,114 shares during the last quarter. American Century Companies Inc. increased its position in shares of NETGEAR by 4.1% in the second quarter. American Century Companies Inc. now owns 910,212 shares of the communications equipment provider’s stock valued at $26,460,000 after buying an additional 35,873 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of NETGEAR by 17.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 808,805 shares of the communications equipment provider’s stock valued at $26,197,000 after buying an additional 117,824 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

NETGEAR Trading Down 1.5%

NASDAQ:NTGR opened at $22.96 on Friday. NETGEAR has a 12-month low of $18.75 and a 12-month high of $36.86. The stock’s 50 day simple moving average is $25.51 and its 200-day simple moving average is $27.75. The firm has a market cap of $652.06 million, a P/E ratio of -25.23 and a beta of 1.14.

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.