BidaskClub upgraded shares of NetGear (NASDAQ:NTGR) from a buy rating to a strong-buy rating in a report published on Thursday, December 21st.
Several other research analysts have also commented on the stock. Zacks Investment Research lowered shares of NetGear from a hold rating to a sell rating in a report on Friday, October 13th. Raymond James Financial upgraded shares of NetGear from a market perform rating to an outperform rating and set a $62.00 price objective on the stock in a research report on Monday, December 18th. Finally, BWS Financial upgraded shares of NetGear from a hold rating to a buy rating and set a $60.00 price objective on the stock in a research report on Monday, October 9th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $65.20.
Shares of NetGear (NASDAQ NTGR) opened at $65.40 on Thursday. The stock has a market cap of $2,058.14, a price-to-earnings ratio of 26.27 and a beta of 1.53. NetGear has a one year low of $41.50 and a one year high of $65.55.
NetGear (NASDAQ:NTGR) last announced its quarterly earnings data on Wednesday, October 25th. The communications equipment provider reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.13. NetGear had a net margin of 5.33% and a return on equity of 10.57%. The company had revenue of $355.48 million during the quarter, compared to analyst estimates of $349.36 million. During the same period last year, the business earned $0.76 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. analysts predict that NetGear will post 2.24 earnings per share for the current year.
In related news, SVP Patrick J. Collins III sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $60.10, for a total value of $45,075.00. Following the sale, the senior vice president now directly owns 20,182 shares in the company, valued at approximately $1,212,938.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Tamesa Rogers sold 1,500 shares of NetGear stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $59.40, for a total transaction of $89,100.00. Following the completion of the transaction, the senior vice president now directly owns 22,542 shares in the company, valued at $1,338,994.80. The disclosure for this sale can be found here. Insiders sold a total of 82,300 shares of company stock worth $4,220,161 over the last quarter. Insiders own 6.20% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. grew its position in NetGear by 17.7% during the second quarter. Victory Capital Management Inc. now owns 3,206 shares of the communications equipment provider’s stock valued at $138,000 after purchasing an additional 482 shares in the last quarter. Amalgamated Bank purchased a new position in NetGear during the third quarter valued at approximately $207,000. M&T Bank Corp grew its position in NetGear by 31.5% during the second quarter. M&T Bank Corp now owns 5,428 shares of the communications equipment provider’s stock valued at $234,000 after purchasing an additional 1,300 shares in the last quarter. K.J. Harrison & Partners Inc purchased a new position in NetGear during the third quarter valued at approximately $286,000. Finally, Crossmark Global Holdings Inc. purchased a new position in NetGear during the third quarter valued at approximately $301,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.
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NetGear Company Profile
NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.
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