NetGear, Inc. (NASDAQ:NTGR) has earned an average recommendation of “Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $65.20.
Several equities analysts recently weighed in on the stock. BidaskClub upgraded shares of NetGear from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 13th. BWS Financial set a $75.00 price target on shares of NetGear and gave the company a “buy” rating in a research report on Friday, January 12th. Zacks Investment Research upgraded shares of NetGear from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Wednesday, January 10th. Finally, Raymond James Financial upgraded shares of NetGear from a “market perform” rating to an “outperform” rating and set a $62.00 price target for the company in a research report on Monday, December 18th.
In other NetGear news, Chairman Patrick Cs Lo sold 19,799 shares of the stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $45.35, for a total transaction of $897,884.65. Following the completion of the transaction, the chairman now owns 183,001 shares in the company, valued at $8,299,095.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tamesa Rogers sold 1,500 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $45.40, for a total transaction of $68,100.00. Following the transaction, the senior vice president now owns 23,781 shares of the company’s stock, valued at approximately $1,079,657.40. The disclosure for this sale can be found here. Insiders have sold 79,300 shares of company stock valued at $4,068,061 in the last quarter. Company insiders own 6.20% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Acadian Asset Management LLC boosted its position in NetGear by 1,300.5% during the fourth quarter. Acadian Asset Management LLC now owns 112,696 shares of the communications equipment provider’s stock worth $6,621,000 after purchasing an additional 104,649 shares during the period. Convergence Investment Partners LLC bought a new position in NetGear during the fourth quarter worth about $1,897,000. Dean Investment Associates LLC bought a new position in NetGear during the third quarter worth about $3,688,000. California Public Employees Retirement System boosted its position in NetGear by 6.9% during the third quarter. California Public Employees Retirement System now owns 73,969 shares of the communications equipment provider’s stock worth $3,521,000 after purchasing an additional 4,769 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of NetGear in the third quarter worth about $315,000.
NetGear (NTGR) traded up $1.25 on Monday, reaching $67.30. 870,600 shares of the company traded hands, compared to its average volume of 575,182. The company has a market capitalization of $2,078.59, a price-to-earnings ratio of 30.59 and a beta of 1.53. NetGear has a one year low of $41.50 and a one year high of $68.00.
NetGear (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, October 25th. The communications equipment provider reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.13. The company had revenue of $355.48 million during the quarter, compared to analyst estimates of $349.36 million. NetGear had a net margin of 5.33% and a return on equity of 10.57%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 earnings per share. analysts anticipate that NetGear will post 2.25 EPS for the current fiscal year.
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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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