Stifel Nicolaus Cuts NETGEAR (NASDAQ:NTGR) Price Target to $30.00

NETGEAR (NASDAQ:NTGR) had its price target decreased by Stifel Nicolaus from $36.00 to $30.00 in a report released on Monday morning, Marketbeat Ratings reports. Stifel Nicolaus currently has a buy rating on the communications equipment provider’s stock.

Several other analysts have also recently commented on NTGR. Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a report on Monday, September 21st. Wall Street Zen raised NETGEAR from a “sell” rating to a “hold” rating in a report on Sunday, September 6th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $33.50.

NETGEAR Price Performance

Shares of NTGR opened at $23.10 on Monday. The company has a market capitalization of $627.86 million, a P/E ratio of -24.84 and a beta of 1.15. NETGEAR has a one year low of $19.00 and a one year high of $36.86. The business’s 50 day simple moving average is $22.36 and its 200-day simple moving average is $23.56.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings results on Thursday, August 6th. The communications equipment provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $157.80 million. During the same period in the prior year, the company earned $0.06 EPS. NETGEAR’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, sell-side analysts anticipate that NETGEAR will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling at NETGEAR

In related news, insider Pramod Badjate sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $23.88, for a total value of $71,640.00. Following the completion of the transaction, the insider owned 154,073 shares in the company, valued at $3,679,263.24. The trade was a 1.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of NETGEAR by 8.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,699 shares of the communications equipment provider’s stock worth $180,000 after purchasing an additional 581 shares in the last quarter. Cetera Investment Advisers increased its position in shares of NETGEAR by 6.4% in the 1st quarter. Cetera Investment Advisers now owns 11,996 shares of the communications equipment provider’s stock valued at $262,000 after buying an additional 725 shares in the last quarter. Continuum Advisory LLC acquired a new stake in NETGEAR during the 2nd quarter worth $25,000. Integrated Wealth Concepts LLC acquired a new stake in NETGEAR during the 2nd quarter worth $31,000. Finally, Amundi raised its stake in NETGEAR by 9.8% during the 2nd quarter. Amundi now owns 27,251 shares of the communications equipment provider’s stock worth $636,000 after buying an additional 2,421 shares during the period. 82.97% of the stock is currently owned by institutional investors.

About NETGEAR

NETGEAR, Inc (NASDAQ: NTGR) develops and markets networking products and related services for consumers, businesses and service providers. Its portfolio is designed to provide wired and wireless connectivity, internet access, network management and security for homes, offices and other environments.

The company’s products include Wi-Fi routers and mesh systems, cable modems, wireless access points, range extenders, switches and other networking hardware. NETGEAR also offers business-oriented networking solutions, including managed and unmanaged switches, wireless systems and storage products, as well as subscription-based services such as network security and monitoring for compatible devices.

Founded in 1996 and headquartered in San Jose, California, NETGEAR sells its products through retailers, e-commerce channels, value-added resellers, distributors and internet service providers.