NETGEAR, Inc. (NASDAQ:NTGR) Director Thomas H. Waechter sold 2,394 shares of the business’s stock in a transaction on Tuesday, June 8th. The shares were sold at an average price of $40.00, for a total transaction of $95,760.00. Following the sale, the director now directly owns 28,952 shares of the company’s stock, valued at $1,158,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
NASDAQ:NTGR opened at $39.93 on Friday. NETGEAR, Inc. has a 1-year low of $23.20 and a 1-year high of $46.38. The business has a 50-day simple moving average of $38.66. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 14.57 and a beta of 0.80.
NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Tuesday, April 20th. The communications equipment provider reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.33. The company had revenue of $317.90 million during the quarter, compared to analyst estimates of $310.21 million. NETGEAR had a net margin of 6.36% and a return on equity of 12.82%. The firm’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 earnings per share. On average, sell-side analysts predict that NETGEAR, Inc. will post 2.29 EPS for the current fiscal year.
A number of brokerages have recently issued reports on NTGR. Zacks Investment Research lowered shares of NETGEAR from a “buy” rating to a “hold” rating and set a $45.00 target price for the company. in a research note on Tuesday, April 6th. Raymond James lowered their target price on shares of NETGEAR from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Thursday, April 22nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $47.60.
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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