NetGear (NASDAQ:NTGR) Hits New 52-Week Low at $24.55

NetGear, Inc. (NASDAQ:NTGR)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $24.55 and last traded at $24.59, with a volume of 4768 shares traded. The stock had previously closed at $25.11.

NTGR has been the topic of a number of recent analyst reports. BidaskClub downgraded NetGear from a “sell” rating to a “strong sell” rating in a research report on Monday, November 25th. ValuEngine cut NetGear from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. BWS Financial raised NetGear from a “hold” rating to a “buy” rating and cut their price objective for the company from $65.00 to $45.00 in a research report on Thursday, October 24th. Finally, Guggenheim set a $44.00 target price on NetGear and gave the stock a “buy” rating in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $38.75.

The stock has a market capitalization of $757.00 million, a price-to-earnings ratio of 14.16 and a beta of 1.59. The company’s fifty day simple moving average is $27.44 and its 200 day simple moving average is $29.25. The company has a quick ratio of 1.66, a current ratio of 2.67 and a debt-to-equity ratio of 0.04.

NetGear (NASDAQ:NTGR) last posted its earnings results on Wednesday, October 23rd. The communications equipment provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.27. The company had revenue of $265.90 million during the quarter, compared to analysts’ expectations of $272.22 million. NetGear had a net margin of 1.28% and a return on equity of 7.48%. NetGear’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.76 EPS. As a group, analysts anticipate that NetGear, Inc. will post 0.89 earnings per share for the current year.

In other news, CFO Murray Bryan sold 1,928 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $35.00, for a total transaction of $67,480.00. Following the completion of the sale, the chief financial officer now owns 31,895 shares in the company, valued at $1,116,325. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Patrick Cs Lo sold 6,489 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $32.92, for a total value of $213,617.88. Following the completion of the transaction, the chief executive officer now directly owns 251,825 shares in the company, valued at approximately $8,290,079. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,517 shares of company stock worth $720,984. Insiders own 5.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in NTGR. Maverick Capital Ltd. increased its stake in NetGear by 184.4% in the third quarter. Maverick Capital Ltd. now owns 48,718 shares of the communications equipment provider’s stock valued at $1,570,000 after purchasing an additional 31,588 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of NetGear in the 3rd quarter valued at about $2,799,000. Squarepoint Ops LLC grew its stake in shares of NetGear by 62.6% in the 3rd quarter. Squarepoint Ops LLC now owns 93,925 shares of the communications equipment provider’s stock valued at $3,026,000 after buying an additional 36,145 shares during the period. Keybank National Association OH acquired a new stake in shares of NetGear in the 3rd quarter valued at about $676,000. Finally, Tibra Equities Europe Ltd bought a new stake in NetGear in the 3rd quarter valued at about $1,498,000. Institutional investors own 99.87% of the company’s stock.

NetGear Company Profile (NASDAQ:NTGR)

NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. It operates in two segments, Connected Home, and Small and Medium Business. The company offers smart home/connected home/broadband access products, such as broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, WiFi network adapters, and digital canvasses; and value added service offerings, including technical support, parental controls, and cybersecurity protection.

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