NetGear, Inc. (NASDAQ:NTGR) Director Jef Graham acquired 500 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was acquired at an average cost of $54.05 per share, for a total transaction of $27,025.00. Following the completion of the purchase, the director now directly owns 5,183 shares in the company, valued at $280,141.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of NetGear, Inc. (NTGR) opened at $65.40 on Friday. The stock has a market capitalization of $2,060.00, a price-to-earnings ratio of 29.73 and a beta of 1.53. NetGear, Inc. has a 12-month low of $41.50 and a 12-month high of $65.55.
NetGear (NASDAQ:NTGR) last issued its quarterly earnings data on Wednesday, October 25th. The communications equipment provider reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.13. NetGear had a return on equity of 10.57% and a net margin of 5.33%. The company had revenue of $355.48 million for the quarter, compared to the consensus estimate of $349.36 million. During the same quarter last year, the business posted $0.76 earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. analysts forecast that NetGear, Inc. will post 2.24 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised 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 bought a new position in shares of NetGear during the third quarter valued at about $207,000. M&T Bank Corp grew its stake in shares of 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 buying an additional 1,300 shares during the last quarter. First Mercantile Trust Co. grew its stake in shares of NetGear by 12.4% during the second quarter. First Mercantile Trust Co. now owns 6,038 shares of the communications equipment provider’s stock valued at $260,000 after buying an additional 668 shares during the last quarter. Finally, K.J. Harrison & Partners Inc bought a new position in shares of NetGear during the third quarter valued at about $286,000. Institutional investors and hedge funds own 97.52% of the company’s stock.
A number of analysts have commented on NTGR shares. BidaskClub raised NetGear from a “hold” rating to a “buy” rating in a report on Thursday, December 14th. BWS Financial raised NetGear from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Monday, October 9th. Zacks Investment Research raised NetGear from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a report on Wednesday. Finally, Raymond James Financial raised NetGear from a “market perform” rating to an “outperform” rating and set a $62.00 target price for the company in a report on Monday, December 18th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the stock. NetGear has a consensus rating of “Buy” and an average target price of $65.20.
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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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