NETGEAR, Inc. (NASDAQ:NTGR) Receives Average Rating of “Hold” from Brokerages

NETGEAR, Inc. (NASDAQ:NTGR) has earned an average recommendation of “Hold” from the four analysts that are currently covering the firm, MarketBeat Ratings reports. One 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 target price among analysts that have updated their coverage on the stock in the last year is $36.00.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a research note on Wednesday, June 24th.

NETGEAR Price Performance

Shares of NTGR opened at $22.79 on Thursday. The company has a 50-day simple moving average of $23.95 and a two-hundred day simple moving average of $23.18. The firm has a market capitalization of $611.68 million, a PE ratio of -25.90 and a beta of 1.19. NETGEAR has a one year low of $19.00 and a one year high of $36.86.

NETGEAR (NASDAQ:NTGR) last posted its earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.14. NETGEAR had a negative return on equity of 2.71% and a negative net margin of 3.58%.The firm had revenue of $158.82 million for the quarter, compared to the consensus estimate of $152.49 million. During the same quarter in the prior year, the business earned $0.02 EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. Analysts expect that NETGEAR will post -0.5 EPS for the current fiscal year.

Insider Transactions at NETGEAR

In other news, Director Laura Durr sold 1,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $26.76, for a total transaction of $26,760.00. Following the sale, the director owned 42,059 shares in the company, valued at approximately $1,125,498.84. The trade was a 2.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shravan Goli sold 3,381 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $26.89, for a total transaction of $90,915.09. Following the completion of the sale, the director directly owned 25,857 shares in the company, valued at $695,294.73. This represents a 11.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 12,085 shares of company stock valued at $318,703 in the last three months. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On NETGEAR

Large investors have recently made changes to their positions in the business. Comerica Bank raised its stake in NETGEAR by 64.8% during the third quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock valued at $35,000 after buying an additional 429 shares during the last quarter. Cetera Investment Advisers increased its holdings in NETGEAR by 6.4% in the 1st quarter. Cetera Investment Advisers now owns 11,996 shares of the communications equipment provider’s stock worth $262,000 after buying an additional 725 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of NETGEAR by 35.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the communications equipment provider’s stock valued at $101,000 after purchasing an additional 904 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in NETGEAR during the 4th quarter valued at $25,000. Finally, Rhumbline Advisers increased its position in NETGEAR by 2.3% during the second quarter. Rhumbline Advisers now owns 51,678 shares of the communications equipment provider’s stock valued at $1,502,000 after acquiring an additional 1,140 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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.