NETGEAR, Inc. (NASDAQ:NTGR) Stock Has Average Price Target of $36.50 According to Brokerages

Shares of NETGEAR, Inc. (NASDAQ:NTGR) have been given a consensus recommendation of “Hold” by the four analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $36.50.

A number of equities analysts recently issued reports on NTGR shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of NETGEAR in a report on Monday. Wall Street Zen upgraded shares of NETGEAR from a “sell” rating to a “hold” rating in a report on Sunday, September 6th.

Insider Activity at NETGEAR

In other news, insider Pramod Badjate sold 3,000 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $23.88, for a total value of $71,640.00. Following the completion of the sale, the insider directly owned 154,073 shares of the company’s stock, valued at approximately $3,679,263.24. The trade was a 1.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On NETGEAR

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of NETGEAR during the second quarter worth about $82,799,000. Concentric Capital Strategies LP purchased a new position in shares of NETGEAR in the 4th quarter valued at approximately $7,020,000. Renaissance Technologies LLC grew its stake in shares of NETGEAR by 77.8% in the 1st quarter. Renaissance Technologies LLC now owns 557,462 shares of the communications equipment provider’s stock valued at $12,175,000 after purchasing an additional 243,843 shares during the last quarter. OP Asset Management Ltd acquired a new position in shares of NETGEAR in the first quarter valued at approximately $5,266,000. Finally, Wellington Management Group LLP raised its stake in shares of NETGEAR by 75.0% during the second quarter. Wellington Management Group LLP now owns 428,011 shares of the communications equipment provider’s stock worth $9,994,000 after purchasing an additional 183,495 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

NETGEAR Price Performance

NASDAQ:NTGR opened at $22.12 on Friday. NETGEAR has a 12 month low of $19.00 and a 12 month high of $36.86. The firm has a market capitalization of $601.22 million, a PE ratio of -23.78 and a beta of 1.17. The business’s fifty day moving average price is $22.63 and its 200 day moving average price is $23.48.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Thursday, August 6th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.15. NETGEAR had a negative return on equity of 2.79% and a negative net margin of 3.71%.The business had revenue of $168.56 million during the quarter, compared to analysts’ expectations of $157.80 million. During the same period in the prior year, the firm posted $0.06 EPS. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, equities analysts anticipate that NETGEAR will post -0.58 EPS for the current year.

NETGEAR Company Profile

NETGEAR, Inc (NASDAQ: NTGR) develops and markets networking products and related services for consumers, businesses and service providers. Its portfolio includes wireless routers, mesh Wi-Fi systems, cable and cellular gateways, switches, wireless access points, network storage products and security cameras.

The company offers consumer-focused product lines such as Nighthawk and Orbi, as well as business networking solutions marketed under brands including NETGEAR Business and Insight.