NETGEAR, Inc. (NASDAQ:NTGR) Receives Consensus Recommendation of “Hold” from Analysts

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

Several analysts recently commented on the company. Wall Street Zen upgraded NETGEAR from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a report on Wednesday, June 24th.

NETGEAR Price Performance

NETGEAR stock traded up $0.04 during midday trading on Friday, reaching $22.98. The company had a trading volume of 176,549 shares, compared to its average volume of 324,196. The company has a market capitalization of $616.78 million, a P/E ratio of -26.11 and a beta of 1.19. NETGEAR has a 12-month low of $19.00 and a 12-month high of $36.86. The firm’s fifty day simple moving average is $24.43 and its 200-day simple moving average is $23.25.

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

Insider Buying and Selling at NETGEAR

In other news, Director Shravan Goli sold 3,381 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $26.89, for a total value of $90,915.09. Following the transaction, the director directly owned 25,857 shares of the company’s stock, valued at approximately $695,294.73. This trade represents a 11.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pramod Badjate sold 3,000 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $25.47, for a total transaction of $76,410.00. Following the sale, the insider directly owned 165,513 shares of the company’s stock, valued at approximately $4,215,616.11. This 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. Insiders have sold 12,085 shares of company stock valued at $318,703 over the last ninety days. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NETGEAR

A number of large investors have recently made changes to their positions in NTGR. Anchor Capital Advisors LLC acquired a new position in NETGEAR in the 4th quarter valued at about $2,131,000. Concentric Capital Strategies LP acquired a new stake in shares of NETGEAR during the 4th quarter worth approximately $7,020,000. Cinctive Capital Management LP purchased a new stake in shares of NETGEAR during the 3rd quarter valued at approximately $6,433,000. OP Asset Management Ltd purchased a new stake in shares of NETGEAR during the 1st quarter valued at approximately $5,266,000. Finally, Leuthold Group LLC lifted its holdings in NETGEAR by 56.1% in the fourth quarter. Leuthold Group LLC now owns 159,432 shares of the communications equipment provider’s stock valued at $3,911,000 after acquiring an additional 57,266 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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.