Zacks Investment Research upgraded shares of NetGear (NASDAQ:NTGR) from a strong sell rating to a hold rating in a research note issued to investors on Wednesday.
According to Zacks, “NETGEAR, Inc. is a global networking company that delivers innovative products to consumers, businesses and service providers. For consumers, the company makes high performance, dependable and easy to use home networking, storage and digital media products to connect people with the Internet and their content and devices. For businesses, NETGEAR provides networking, storage and security solutions without the cost and complexity of big IT. The company also supplies top service providers with retail-proven, mobile broadband solutions for their customers on the go. NETGEAR products are built on a variety of proven technologies such as wireless, Ethernet and Powerline, with a focus on reliability and ease-of-use. “
Several other brokerages also recently weighed in on NTGR. BidaskClub downgraded shares of NetGear from a strong-buy rating to a buy rating in a report on Tuesday. ValuEngine upgraded shares of NetGear from a hold rating to a buy rating in a research note on Wednesday, May 2nd. Finally, Guggenheim reiterated a buy rating and issued a $76.00 price target on shares of NetGear in a research note on Friday, April 27th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $70.25.
Shares of NetGear stock opened at $63.00 on Wednesday. The firm has a market capitalization of $2.01 billion, a P/E ratio of 29.72 and a beta of 1.93. NetGear has a fifty-two week low of $42.65 and a fifty-two week high of $71.42.
NetGear (NASDAQ:NTGR) last issued its earnings results on Wednesday, April 25th. The communications equipment provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. The company had revenue of $345.00 million during the quarter, compared to the consensus estimate of $342.58 million. NetGear had a net margin of 0.63% and a return on equity of 9.63%. NetGear’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 EPS. analysts expect that NetGear will post 2.64 earnings per share for the current fiscal year.
In other NetGear news, SVP David John Henry sold 3,556 shares of the business’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $55.00, for a total value of $195,580.00. Following the sale, the senior vice president now owns 39,302 shares in the company, valued at approximately $2,161,610. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael F. Falcon sold 1,042 shares of the business’s stock in a transaction on Thursday, May 3rd. The stock was sold at an average price of $54.55, for a total transaction of $56,841.10. Following the completion of the sale, the senior vice president now owns 43,403 shares in the company, valued at approximately $2,367,633.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,241 shares of company stock worth $2,872,581. Corporate insiders own 5.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its position in shares of NetGear by 44.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,858 shares of the communications equipment provider’s stock valued at $168,000 after buying an additional 884 shares in the last quarter. Delpha Capital Management LLC purchased a new stake in shares of NetGear during the 4th quarter valued at about $186,000. Xact Kapitalforvaltning AB purchased a new stake in shares of NetGear during the 4th quarter valued at about $225,000. O Shaughnessy Asset Management LLC raised its position in shares of NetGear by 390.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,022 shares of the communications equipment provider’s stock valued at $230,000 after buying an additional 3,202 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of NetGear during the 1st quarter valued at about $250,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.
NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. The company operates in three segments: Arlo, Connected Home, and Small and Medium Business. It offers smart home/connected home/broadband access products, such as remote video security systems, broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, and WiFi network adapters.
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