NETGEAR, Inc. (NASDAQ:NTGR) SVP Michael A. Werdann sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $51.70, for a total value of $77,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings data on Wednesday, July 26th. The communications equipment provider reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.06. NETGEAR had a net margin of 5.42% and a return on equity of 10.67%. The business had revenue of $330.72 million during the quarter, compared to the consensus estimate of $324.64 million. During the same period in the prior year, the firm posted $0.72 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year.
A number of hedge funds have recently modified their holdings of the business. Ardsley Advisory Partners bought a new stake in NETGEAR in the 2nd quarter worth about $517,000. Public Employees Retirement System of Ohio grew its position in shares of NETGEAR by 0.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 44,772 shares of the communications equipment provider’s stock valued at $1,930,000 after acquiring an additional 135 shares during the period. Piedmont Investment Advisors LLC bought a new position in shares of NETGEAR during the 2nd quarter valued at approximately $302,000. State Street Corp grew its position in shares of NETGEAR by 1.8% during the 2nd quarter. State Street Corp now owns 842,782 shares of the communications equipment provider’s stock valued at $36,319,000 after acquiring an additional 14,817 shares during the period. Finally, Macquarie Group Ltd. grew its position in shares of NETGEAR by 35.0% during the 2nd quarter. Macquarie Group Ltd. now owns 593,665 shares of the communications equipment provider’s stock valued at $25,587,000 after acquiring an additional 154,070 shares during the period. 98.89% of the stock is owned by institutional investors and hedge funds.
NTGR has been the subject of several analyst reports. BWS Financial upgraded NETGEAR from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Monday. Zacks Investment Research downgraded shares of NETGEAR from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $62.13.
NETGEAR Company Profile
NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.
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