NETGEAR (NASDAQ:NTGR) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of NETGEAR (NASDAQ:NTGR – Get Rating) in a report released on Thursday. The brokerage issued a hold rating on the communications equipment provider’s stock.

NETGEAR Price Performance

Shares of NTGR stock opened at $17.43 on Thursday. The stock’s 50 day simple moving average is $19.05 and its 200 day simple moving average is $19.83. NETGEAR has a twelve month low of $17.07 and a twelve month high of $26.79.

NETGEAR (NASDAQ:NTGR – Get Rating) last issued its quarterly earnings data on Wednesday, February 1st. The communications equipment provider reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. NETGEAR had a negative return on equity of 11.05% and a negative net margin of 7.40%. The business had revenue of $249.10 million for the quarter, compared to the consensus estimate of $243.52 million. During the same period last year, the business earned ($0.03) EPS. The firm’s revenue was down .8% compared to the same quarter last year. Analysts anticipate that NETGEAR will post 0.11 earnings per share for the current fiscal year.

Insider Activity at NETGEAR

In other NETGEAR news, insider Martin Westhead sold 2,044 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $18.14, for a total value of $37,078.16. Following the sale, the insider now owns 42,970 shares of the company’s stock, valued at approximately $779,475.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other NETGEAR news, insider Martin Westhead sold 2,044 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $18.14, for a total value of $37,078.16. Following the sale, the insider now owns 42,970 shares of the company’s stock, valued at approximately $779,475.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Vikram Mehta sold 1,850 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $19.32, for a total value of $35,742.00. Following the completion of the sale, the senior vice president now directly owns 42,970 shares in the company, valued at approximately $830,180.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,861 shares of company stock valued at $91,232. Corporate insiders own 5.10% of the company’s stock.

Institutional Trading of NETGEAR

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of NETGEAR by 3.0% during the 1st quarter. BlackRock Inc. now owns 5,588,137 shares of the communications equipment provider’s stock worth $137,917,000 after purchasing an additional 165,385 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of NETGEAR by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,300,485 shares of the communications equipment provider’s stock worth $66,142,000 after purchasing an additional 122,759 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of NETGEAR by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,848,617 shares of the communications equipment provider’s stock worth $37,047,000 after purchasing an additional 8,187 shares in the last quarter. State Street Corp grew its holdings in shares of NETGEAR by 5.4% during the 1st quarter. State Street Corp now owns 1,218,467 shares of the communications equipment provider’s stock worth $30,072,000 after purchasing an additional 62,383 shares in the last quarter. Finally, Macquarie Group Ltd. grew its holdings in shares of NETGEAR by 2.4% during the 2nd quarter. Macquarie Group Ltd. now owns 892,002 shares of the communications equipment provider’s stock worth $16,520,000 after purchasing an additional 20,725 shares in the last quarter. Institutional investors and hedge funds own 85.22% of the company’s stock.

About NETGEAR

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NETGEAR, Inc engages in the provision of Internet connected products to consumers, businesses, and service providers. It operates through the following segments: Connected Home, and Small & Medium Business. The Connected Home segment focuses on consumers and consists of high-performance, dependable and easy-to-use WiFi Internet networking solutions such as WiFi mesh systems, routers, 4G/5G mobile products, smart devices such as Meural digital canvasses, and services offering consumers a range of parental controls and cyber security for their home networks.