Wall Street Zen Downgrades NETGEAR (NASDAQ:NTGR) to Sell

NETGEAR (NASDAQ:NTGR) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other research firms also recently commented on NTGR. Raymond James Financial increased their target price on shares of NETGEAR from $29.00 to $37.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Stifel Nicolaus upped their price objective on shares of NETGEAR from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Zacks Research cut NETGEAR from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings reissued a “sell (d)” rating on shares of NETGEAR in a report on Monday, December 29th. Finally, Seaport Res Ptn upgraded NETGEAR to a “strong-buy” rating in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, NETGEAR presently has an average rating of “Moderate Buy” and a consensus target price of $37.33.

NETGEAR Stock Down 1.1%

Shares of NTGR opened at $22.43 on Friday. The company has a market capitalization of $637.01 million, a price-to-earnings ratio of -24.65 and a beta of 1.14. NETGEAR has a 52-week low of $18.75 and a 52-week high of $36.86. The stock has a 50 day moving average price of $25.10 and a 200 day moving average price of $27.61.

Insider Activity

In other NETGEAR news, insider Pramod Badjate sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $24.60, for a total transaction of $98,400.00. Following the completion of the sale, the insider directly owned 155,361 shares of the company’s stock, valued at $3,821,880.60. This represents a 2.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Graeme Mclindin sold 1,205 shares of NETGEAR stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $34.26, for a total value of $41,283.30. Following the completion of the transaction, the vice president owned 30,808 shares in the company, valued at $1,055,482.08. This trade represents a 3.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On NETGEAR

A number of large investors have recently bought and sold shares of NTGR. Amundi boosted its holdings in shares of NETGEAR by 99.1% in the first quarter. Amundi now owns 48,211 shares of the communications equipment provider’s stock valued at $1,179,000 after acquiring an additional 23,993 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in NETGEAR by 15.5% in the first quarter. Goldman Sachs Group Inc. now owns 279,874 shares of the communications equipment provider’s stock valued at $6,846,000 after purchasing an additional 37,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in NETGEAR by 13.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,146 shares of the communications equipment provider’s stock valued at $1,814,000 after purchasing an additional 9,021 shares in the last quarter. Strs Ohio acquired a new position in NETGEAR during the 1st quarter worth approximately $585,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of NETGEAR by 22.1% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 236,593 shares of the communications equipment provider’s stock worth $6,878,000 after buying an additional 42,815 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

NETGEAR Company Profile

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.